Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
Life insurance can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt.
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. This type of plan is designed for those individuals or families who want a lump sum if they are diagnosed with a serious illness. An example of where this lump sum could be used is to repay a loan, mortgage, or perhaps cover a loss of income and allow you to take time off work.
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
One of the key benefits was to get Susan as a real supporter, able to listen and understand our challenges and background. Susan has been brilliant in listening and answering to all our questions, constraints, doubts in a subtle, advised and "zen" way. So, thanks to this very smooth and professional process, we almost forgot that we applied for a 25 years mortgage!
Everything was dealt with quickly and both David and Donna who dealt with our application were in contact by e-mail on a regular basis.
Extremely concise and detailed advice along with a speedy turn around. Would definitely use again.
Thank you so much for a quick and reliable service. There was nothing we had to do other than produce our paperwork. We are absolutely delighted with the service we were given.
The whole service was fantastic from beginning to end - I can't thank Susan enough for her help. She made the process completely stress free!
I could not be more grateful to David for everything. He took all the stress out of applying for a mortgage and I am so happy with the mortgage that I've got. Huge thanks for being part of buying my first house on my own!
At Taylor Carmichael we offer our clients highly professional specialist mortgage and protection advice from the UK marketplace.