Life Assurance | Family Protection
We at John Neville Insurances Limited offer a wide range of life assurance products. Life Assurance is vital as it provides protection to your family and peace of mind should you die. We can provide a life assurance package to suit your financial needs.
Life Assurance is a simple and easy to arrange form of insurance that provides a lump sum in the event of a death. In most cases the premium contribution is payable by monthly direct debit. Our life assurance policies can range from 10 years to 40 years. The lump sum is payable if the death occurs during the term of the policy. This form of life assurance is also known as Term Assurance.
There are three types of Term Assurance:
- A single life policy just covers you, the policy holder(s). A payment will be made if you die during the term of the policy.
- A joint life policy is arranged on both lives, but is only payable on the first death. This payment on first death will be made if you die during the term of the policy. Should either party die during the term of the policy, the lump sum will be paid on the first death and then the policy will cease.
- A dual life policy is arranged on both lives, and individual payments are made on both deaths, should they occur during the term of the policy. In the event of a claim by one of the insured lives, the policy will continue as before with the monthly payments and the premium will be reduced accordingly.
Our premium is guaranteed to last the chosen term of your life assurance policy. Serious Illness Cover can also be added to your policy as a stand alone benefit. We strongly recommend that you review your life assurance policy every 2 to 3 years as circumstances change i.e. getting married, moving home, having a family.