• It is a horrible thought, but would you or your partner be able to continue living as you do now, should the other one no longer be there?
    Life cover – otherwise know as Level Term Assurance (LTA) is a protection policy with an unchanging sum assured. This sum assured is paid out to the stated beneficiaries if the life assured by the policy dies or contracts a terminal illness.

Level Term Assurance (LTA) / Life Cover

Such insurance could provide a loved one (plus any other beneficiaries listed on the plan) with a lump sum of money. Whilst it cannot save them, it can help them cope financially in the immediate future, and all through monthly premiums being paid towards the plan. For as long as premiums are paid on a plan, the full sum assured will be paid out.

We normally advise clients to take out life cover with a sum assured equal to 3-4 times their annual income. This then means that should something happen to them, the money would be used to cover their dependents for 3-4 years. Doing it this way affords them time to plan out the rest of their lives and adjust earnings and expenses accordingly.

MAP believes this cover is a necessity as it has a knock-on effect to families. Would you be happy knowing that when you die, your nearest and dearest would struggle financially?

Critical Illness cover can be added into life cover policies, and some insurance companies now offer plans which include mortgage payment protection or income protection insurance combined with life cover, obviously though for an additional cost.

MAP would search the whole of the market to find the best policy to match your needs, and at the lowest cost available. Furthermore, once a policy is in place, we would review it regularly thereafter to ensure you still have the best policy available to suit your needs.

When it comes to the health of you and your loved ones, it pays not to take risks. So call MAP today for a free quote.

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