Home · Contact
Get in touch at
Life Cover
Life cover is incredibly versatile. If someone dies unexpectedly, it can pay a mortgage, living expenses, childcare costs, funeral bills, death duties and much more.
“If my husband or I die, we want the mortgage and other bills paid until our son has left home.”
Wright and Pryce recommended:
- £100,000 life policy to protect mortgage.
- Life policy that would pay £1,000pm for up to 10 years to cover bills.
- Premium fixed for life.
- Peace of mind.
Total cost: £13.17 per month
Based on a 30 year old man and wife with 25 year repayment mortgage at standard rates taking out £100,000 joint decreasing life policy over 25 years and joint 10 year Family Income Benefit policy paying £12,000 per year. Quote correct at 8/2/10.
7 familes a day are told a loved one has died in a road accident (Source BBC news Dec 09).
If you are the director of an SME, you might be able to get your life cover premiums as an allowable business expense. Ask your adviser for more information.
“I’m a professional diver and currently pay £85 per month for my life cover. Can I get the same cover for less?”
Wright and Pryce recommended:
- Exactly the same amount of cover as before.
- Premium fixed for life. But switch to a new provider.
Cost: £48 per month
Based on 28 year old male professional diver taking out £180k life cover over 25 years.
Heart disease is the most common cause of death for men and breast cancer for women aged under 55. (Source Office of National Statistics).
Put your life cover into trust. This is free and can mean it pays out much quicker, and can help avoid tax. Ask your adviser for more information.
“I had skin cancer 6 years ago. I’ve been quoted £155 per month. Can you find me some cover that is affordable?”
Wright and Pryce recommended:
- £100,000 life cover.
- Premium to reduce after 2 years.
Cost: £63.26 per month
Based on £100k life cover over 23 years for 33 year old female who suffered a malignant melanoma 6 years ago.
Axa paid out on all but one of the claims on life cover in 2009. In the claim that was declined, the client forgot to mention he regularly suffered from severe chest pains. (Souce Axa)
If you don’t have perfect health, a specialist adviser can find out what you are likely to pay before you even consider submitting an application.
