Life Assurance

Protecting what matters most . Good advice leads to peace of mind.

Your needs will change as you go through life.

When you are single, you only have to consider protecting yourself financially. When you get married and have a family, you’ll want to protect them. When you buy a home or start a business, you’ll want to protect your investment and your Employees. You might just need one type of cover or you might need to mix and match plans to suit you better. At Mason Mortgages & Financial Services we have the expertise to advise you on the best plan for you.

How much cover do you need?

Everyone’s situation is different. When working out how much cover you should plan for, it may be helpful to figure out how much money you or your family would need each month if you were unable to earn an income. You can do this by writing out a simple list of monthly expenses like your mortgage repayments, your groceries, energy bills, childcare and socialising costs. Then, decide how long you want the cover to last, for example, until your children are finished college.

Remember that your circumstances will change over time so if you have an existing plan, it may be worth reviewing it now.

The cost of your life insurance cover will take into account the following factors.

• Your health. It is beneficial to take out the cover you need as early as you can. As you get older, taking out a new policy is likely to be more expensive
• If you smoke. Premiums for smokers are higher than non-smokers due to a greater risk of early death and more serious illnesses among smokers
• Your term of cover. The cost varies depending on how long you want to be covered for.
• The benefits you choose. If you choose an optional additional benefit, you will incur an extra cost
• It makes good sense to get insured while you are in good health. Deteriorating health can result in a higher premium or being denied cover.