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Life Insurance

Planning for the future to protect you and your family.

          - Insurance Mortgage Services Ltd is authorised and regulated by the Financial Conduct Authority. FCA Registration Number 300993. 

Registered Address : Applegarth, The Reddings, Cheltenham GL51 6RL.  Company Registration Number 4496808. 

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

Your home may be repossessed if you do not keep up repayments on your mortgage 

 

 

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Why do I need life insurance?


Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. Life insurance on its own is a relatively cheap way to overcome this problem and receiving a lump sum of money can help to support your family or even a business partner after you die. Some of the reasons to take out life insurance could include:
 
  • Repaying the mortgage or any lending commitments
  • Providing additional cover to protect the family
  • Provide cover for education expens
 
Whatever the reason it is important to ensure your family can maintain the standard of living to which they were accustomed.

There are various types of life assurance policies


Term Assurance


 
A policy designed to pay out the same level of cover throughout the policy term. This can be used in conjunction with an interest only mortgage.
Decreasing Term Assurance / Mortgage Protection Plan - The policy pays out an amount (sum assured) which reduces throughout the term of the plan and is mainly used to protect repayment mortgages or possible to cover a loan.

Convertible Term Assurance


The sum assured stays the same for the term of the policy. However, for an additional cost you will have an option to convert this original plan, or part of it, to another type of policy.

Family Income Benefit


Family Income Benefit (FIB) provides a tax free regular income which is paid out for the remaining term of the policy if you die. FIB can provide a replacement income and may be index-linked to inflation.

Death in Service Benefit


Death in service benefit is the name for cover, which can be provided by your employer if you die while employed. This is generally between 2 and 4 times your salary, though not all company’s provide it and it is worth checking with your employer before taking out any additional cover. However don’t forget the cover belongs to the employer so if you change your job, your new employer may not offer you this.

IMS have access to a wide range of insurance products from leading companies such as Aviva, Legal and General and BUPA that provide a comprehensive and competitive product range
Life Insurance policies pay out if you die within a specified period. This is usually the cheapest way to provide financial protection for your family in the event of your death.