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Term Assurance This pays a tax-free lump sum in the event of death and/or critical illness during a specified period in return for a fixed monthly, or annual premium. At the end of the term the policy finishes and there is no investment value. There are five types of term assurance available:
The amount of your contribution depends on:
A term Assurance
provides a low-cost means of cover. The policy has no “surrender
value” – in other words, if the insured person survives until the
end of the term, then no payment is made by the insurance company. Convertible Term Assurance allows the policyholder to change the Term Assurance into either an endowment policy or a whole of life policy with up to the same amount of cover at any time before the end of the term of the original policy. This is a valuable feature if the policyholder’s need is for additional savings (convert to endowment) or a longer-term protection (convert to whole of life). This policy allows
the clients to effect a term assurance policy for, say, three or
five years, at the end of which the client is then given the
guaranteed right to effect a similar policy for a similar term of
years without having to give the insurance company any evidence
that he/she is still in good health. The short initial term of
years means that premiums are very low, whilst the guaranteed
renewability means that the client will not then be left without
life assurance at the end of the term. Although premiums will be
low for the initial term, the premium rates will increase with age
each time a new policy is taken out under the option, but they are
guaranteed to be normal premium rates provided the initial
proposal was accepted on normal terms. We offer an extremely competitive service, so for more information about Life Insurance and Critical Illness cover contact us on: Telephone: 0115 945 5199 Fax: 0115 982 6250
Email:
info@davidburnell.co.uk
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Burnell Financial Services Ltd Tel: 0115 945 5199
Fax: 0115 982 6250 David Burnell Financial Services Limited is an appointed representative of IN Partnership the trading name of The On-Line Partnership Limited Registered Office 29 Arboretum Street, Nottingham NG1 4JA. Registered in England, Company Number 4619997 |