Protecting my family
The first thing to know if you're considering protecting your family and lifestyle with a life insurance policy is the type of cover that will suit your needs depends entirely on your personal circumstances.
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As we've already suggested, once you've decided what you need the cover for, the next stage is to work out and decide how much you need. The amount you require will depend on your personal circumstances and how much you would want to be available to your family. Some of the best ways to work out the figure you may need is to ask yourself some questions.
Now some times this can be limited by how much you reasonably afford to pay towards a policy each month. This should be a balance between ensuring the cover you need is in place and leaving enough disposable income for enjoying life - the best outcome is that a claim is never needed on life insurance and you have lived your life. The types of policy used for providing protection for your family are usually Term life insurance, Family Income Benefit and Whole of Life insurance plans. Term life insurance is a standard form of life insurance used for providing a lump sum in the event the life-insured dies prematurely within a specified term. If you want to provide a replacement for lost income if you were to die prematurely then Family Income Benefit could be a more suitable alternative. Rather than simply providing you with lump sum this pays a regular income amount to help replace the loss of a loved ones wages during the term of the policy. If you looking at a life insurance policy as a way of covering a variety of needs like funeral costs then a Whole of Life Assurance may be suitable for you. As always there are a variety of variations on the main theme, but as the title suggests this kind of policy would run through until your passing away.
Once you have completed your quote and you are happy to proceed upon the basis set out, and have read through the illustration, Key Features documents along with our Terms of business and Data Protection statements above, you can contact Cherwell Financial Services Ltd to inform them you wish to proceed with your quote and we will explain the process on how to proceed with your requested cover. The quoted premiums in the cover assume that you are in good health and are based upon the information you have provided to the relevant provider. Until the terms have been offered and subsequently accepted by you and the provider (an accepted application, not just an Illustration), then you may not be covered and the price may be subject to change or be declined.