We don’t like to talk about death. It’s a natural reaction to something that it is one of the few certainties in life. However, just because it will happen one day does not mean to say we should ignore it.
For many of us the fear of death is not so much about us but those we leave behind. What will happen to them once we’re gone? That’s why it’s important to be prepared.
Life assurance can help allay those fears by insuring that, whatever happens, your family’s financial security will be provided for in some way. At Eclipse, we have the experience and knowledge to help you choose a policy that will best do this, and one that is tailored to your personal circumstances.
There are a range of options that we can run through with you, including:
Level Term Life Assurance (LTA) is a fixed term policy that provides a guaranteed sum should the individual die during the specified term.
Decreasing Term Life Assurance (DTA), while providing a death benefit, reduces over time as liabilities cease to exist (for example mortgage life insurance, that becomes less as the mortgage matures). Renewable yearly.
Whole of Life Assurance (WOL) provides a long term policy that will deliver a pay out when the policy holder dies (as opposed to paying out if you die during the policy term).
Family Income Benefit (FIB)will provide a per month income for the family, tax free, if the policy holder dies during the policy’s term (providing a low cost life insurance solution).
A Relevant Life Assurance policy allows employers to make a ‘death in service’ provision for their employees.
An Inter Vivos Assurance policy gives protection from inheritance tax to individuals who have passed on financial gifts (gifts that are taxable should the individual die within 7 years).