Life Assurance Glasgow | Roxburgh Group
How life assurance can help you
It’s often overlooked but life assurance can be the most important contract when you’re considering financial planning for an individual or a family. Put simply, a life assurance policy will pay a stated benefit on the holder’s death (sum assured), provided that the death occurs within a specified time period.
Which option is right for you?
There are lots of options available to make sure you get one that’s right for you and your circumstances. Life assurance is seen as more of an investment product than life insurance, due to the nature of the guaranteed payout. The premium you pay each month will be split, with some going towards your final payout and some being invested.
Your life assurance options
Level term – the basic, entry-level cover. Normally the cheapest option, and a fixed lump-sum amount is paid out if the individual dies within the policy period.
Convertible term – offers flexibility to convert the policy into a whole life or endowment policy.
Decreasing term – also known as mortgage life insurance. It decreases at a fixed rate as your mortgage is paid off.
Renewable term – like level life but it also allows you to extend the cover if you need to.
Increasing benefit – is used to protect against inflation.
Family income benefit – pays out a regular income to your dependents.
Mortgage protection – the same as decreasing term (see above)
Critical illness – pays out if the insured person is diagnosed with a specific critical illness.
Whole-of-life assurance – designed to cover you for the whole of your life.
Guaranteed premium – these are set by the insurer and remain the same throughout the policy term.
Reviewable premiums – the premiums are assessed (usually every five years) and can go up or down.
Life assurance in trust – ensures any payments to your dependents are not delayed and / or subject to tax.
Waiver of premium – if you cannot work, the insurance company will pay your premiums to maintain your benefits.
That’s a lot to digest. We’re here to help you get to grips with life assurance and which option will benefit you and your family most.
How our independent financial advisors can help you
With over 50 years’ experience of helping people plan for their futures, we know what we’re doing when it comes to financial advice. We believe that honesty, integrity and transparency stand us apart and allow us to plan for our long-term future, as well as yours. We’re independent advisors, which means that our options are unrestricted – we won’t just show you the products that make more money for us (and our suppliers).
So you get to see the whole picture, not just which bits suit your advisors.
Why is using Roxburgh a good idea?
We know our stuff. We spend a lot of time researching the latest figures and legislation. We sift this information to draw conclusions and add these to the knowledge we already have. When things change you want to be able to choose the best options for your investments, so you maximise the advantages open to you. Our long-term approach means that we help you plan your finances to make sure you can live the life you want and protect those you love once you’re gone.
It’s important to remember that the value of any investments can go up or down and your final payout may be affected by this. As investment-linked life assurance is a specialist product, and you should speak to a financial advisor (like us) if you’d like to purchase one.
If you have any questions please contact the appropriate branch listed below:
Our Glasgow office is located at 151 Glasgow Road, Clydebank, G81 1LG. Telephone: 0141 952 0371.
Our Troon office is located at 19 Ayr Street, Troon, KA10 6EB. Telephone: 01292 314313.
Our Kilmarnock office can be found at 35 Main Street, Stewarton, KA3 5BS. Telephone: 0156048 5333.
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