B-Advised are specialists in Mortgages, Investments, Equity Release and Life & Critical Illness Insurance

Life & Critical Illness Insurance

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Not all life insurance is the same. B-advised ltd offer you access to the whole market for bespoke protection in a simple yet cost-effective way. Best Prices from some of the most respected providers.

This is about benefits, for your loved ones; after you have gone. Life assurance will pay a tax free cash lump sum, to your family when you die. This can be used to repay debts or secure the futures of those you care about.

Debts don’t die because you do!
Kids will still need feeding, raising and educating.

Term assurance plan, which means it provides cover for a fixed term 1yr to 40yrs and does not have cash in value or pay out at the end of the term. It's aimed at people aged 17-69 years of age, who are in fair to good health. Variants include, Convertible term, Family income benefits, Level, Escalating and Decreasing, with or without Cic? With or without waiver?

Mortgage? Consider decreasing cover its cheaper. This cover is designed for you if you're a first time buyer, moving house or owner re-mortgaging. The amount you owe on a capital and interest repayment mortgage will go down over the years. So, your cover decreases each month, using a monthly interest rate of 5-10%. The cost is averaged out over the term of your plan - you pay the same amount every month.

Whole of life plans are life assurance policies, designed to provide the policyholder/life assured with cover for their entire lifetime. The policies pay out once the life assured dies, the policyholder's dependants will receive a lump sum, usually tax-free. Depending on the individual policy, policyholders may have to continue contributing to the plan right up until they die, or they may be able to stop paying in once they reach a stated age, even though the cover continues until they die. These have variants that are investment linked, Guaranteed, Reviewable, One off payment and those with little or no medical information required.

Providers of 'whole-of-life' plans guarantee to pay out when the life assured dies. Critical illness insurance or critical illness cover is an insurance product, where the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed in the insurance policy. (Heart attack/Stroke/Cancer/Loss of sight/Children’s cover /Kidney Failure, with up to 40 potential illnesses covered)Some providers offer a wider range of benefits and conditions covered, let us do the home work and tailor a plan to suit you and your individual situation. Be aware of the price you pay.

 

PHI

Income Protection Explained

Income protection insurance or permanent health insurance aims to give you an income if you can't work in the event of sickness or illness. (Not Unemployment)

The amount of cover can be anything up to three-quarters of your normal wage, less any state benefits you receive.

For the self-employed, insurers usually base the level of cover on your taxable income at the point of a claim.

All pay-outs for income protection insurance are tax free and usually continue until you recover or you reach your selected pension age/term of the policy.

Income protection insurance will not cover redundancy, for details on redundancy insurance please read our accident sickness and unemployment cover section.

Pros

  • Will be beneficial if you or your family relies on your wage to pay most of the bills and if you want the security of continuing pay outs.
  • May be useful if you are self-employed or don’t have a job with sick pay.
  • It's up to you how you spend the money each month.

Cons

  • This is one of the more expensive forms of this type of insurance if you have a short deferment period.
  • This cover does not typically include redundancy cover, and a separate policy would be required for this cover.

Income Protection Insurance Explained

Income protection insurance, also known as permanent health insurance or income replacement, provides a tax free income if the policy holder becomes unable to work through illness. An income is paid until retirement age, the end of the policy term or until the policy holder is able to return to work.

Permanent health insurance does not normally cover unemployment/redundancy.

There is a period following the accident or illness which must elapse before the policy begins to pay. This can range from a month up to two years and is known as the deferment period.

Most income protection policies will give a stream of monthly tax-free payments equivalent to between 50% and 65% of gross salary, although some companies will offer up to 75%.

Premiums are dependent on the monthly income required, age, current state of health smoker status and occupation. The deferment period also affects the premium, with a shorter period resulting in higher premiums being required.

You should check your employer benefits package before applying for an Income Protection plan as you may find they offer some cover. If you are unsure please speak to b-advised ltd

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Life cover price is affected by factors of age, sex, occupation, health level of benifits.
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B-advised Ltd is an appointed representative of Personal Touch Financial Services Limited which is authorised and regulated by the Financial Conduct Authority

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Some of the products/services are not or may not be regulated by the Financial Conduct Authority.

THERE MAY BE A FEE FOR MORTGAGE ADVICE. THE AMOUNT WILL DEPEND ON YOUR CIRCUMSTANCES. OUR TYPICAL FEE WOULD BE £299.