OPT Financial works on a Face-to-Face model, meaning we sit down with each individual customer and completed the process with them at a time and date (and location) to suit them.
Family protection in its simplest form. leaves a lump sum behind when you are gone to look after loved ones. Life Insurance takes many forms such as Whole of Life Assurance, Term Assurance, Mortgage Protection and Index Linked Assurance.
WHAT IS LIFE INSURANCE?
Life insurance is one of the most selfless things you can buy. Unlike other insurance policies that cover you for things that may never happen, a life insurance policy gives you peace of mind that your loved ones will be able to continue financially once you’ve gone. Before you take out a life insurance policy it’s worth thinking about why you might want to be covered.
BUYING A NEW HOME
If you’ve just bought a new home it could be beneficial for you to consider a life insurance policy. This will ensure that if anything happens to you, the people you share your home with would be able to continue paying bills and the mortgage once you’re gone.
Most life insurance policies will leave your loved ones with a lump sum once you’ve gone. This could be to cover funeral costs or bills, or simply to spend on something nice to help ease the grief.
COVER OF FUNERAL COSTS
Depending on the type of cover, the lump sum payout your loved ones receive could be used to pay for your funeral or cover some of the costs to ensure you have the send off you and your family deserve.
HAVE A FAMILY
If you have a family or you’re just starting one, it might be the perfect time to consider a life insurance policy. A lump sum payout can help to continue to provide for your family when you’re gone.
TYPES OF LIFE INSURANCE
Level-term insurance is usually fixed and covers you for a specific length of time for a fixed monthly price. If you pass away at any point during this time the policy will pay out a lump sum to your loved ones to help them continue with their way of life.
A Critical illness policy normally pays out a tax-free lump sum to you if at any point during the policy you are diagnosed with an illness that is defined as critical. This lump sum can help cover medical expenses, mortgage payments and bills.
Decreasing cover insurance, sometimes known as mortgage protection, decreases over time alongside your mortgage. As your financial commitments decrease over time so do your monthly payments towards your policy.
AMOUNT OF COVER
Each life insurance policy, level of cover and monthly amount depends on each and every individual circumstance. It’s always beneficial to look at your current outgoings and potential future outgoings as a starting point.
Most life insurance policies start from as little as £9 per month, the higher the premium, the more protected you are. It’s important to think about what you want to be covered for and how much you can afford to pay.
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We understand that people have varying circumstances and requirements. If you're interested in any of our services and would like to discuss this further with us, you can request a quote below.
We review you current financial situation, helping you understand the financial impact if you were to pass away. We have a dedicated team who search the market to find the best products for you.
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