All Life Assurance Products are Designed to Protect you and Your Loved ones Against Financial Hardship.
All life assurance products are designed to protect you and your loved ones against financial hardship that can be caused by serious illness or death. In these unfortunate circumstances a life assurance policy will provide financial assistance when it is needed most. It is essential to review your life cover frequently to ensure that it meets your requirements and changing circumstances. There are many different types of life assurance policies and Kennedy Financial Advisors can provide you with impartial & comprehensive advice on which policy suits your individual circumstances best.
The main types of life assurance are:
Level Term Assurance provides a single cash payment to your family in the event of your death during the term of the policy. This lump sum would generally be used to cover funeral expenses, repaying an outstanding mortgage and other debt. Alternatively it could be invested to provide a regular income.
This plan will ensure that your mortgage is repaid in the event of your death and give you peace of mind that your loved ones will not be burdened with responsibility of repaying your liabilities.
‘Whole of Life’ Cover
These policies provide comprehensive assurance throughout your life and will remain in force as long as the premiums are paid. The premiums are payable for life.
Over 50’s Plan
This cover gives your family and loved ones a guaranteed lump sum that could help pay any bills and expenses, for example, funeral expenses, when you’re no longer alive.
Your lump sum is guaranteed once you’ve made regular payments until your 90th birthday or until you die. At age 90 you will not have to make any more payments but your cover still continues for the rest of your life. Your plan will end if you stop making regular payments before you reach age 90, or when a claim is made.
Serious Illness Cover
This type of cover provides a lump sum payment on the diagnosis of prescribed serious illness such as cancer, heart attack and stroke. This is a tax-free lump sum and it can be used to pay off your mortgage, pay monthly bills or pay for medical expenses.
Anyone in business today wouldn’t think twice of insuring their business against loss from fire or theft. However, there are many other circumstances that can have damaging and lasting consequences for your business. Indeed, without the right kind of protection, your business, even your family’s finances, could be in financial ruin.
Many problems can arise for a business when a partner or key employee cannot continue to work or suffers serious illness. Some of these problems could be alleviated with adequate financial planning to provide the funds to allow options and choices to be made by all parties. Arranging adequate Business Protection Insurance is the only way to ensure that funds will be available in a cost efficient manner to ensure the continuity and the survival of the business.
Kennedy Financial Advisors
7 Fitzwilliam Street Lower
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