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TERM LIFE INSURANCE Your personal circumstances are the most important factor ...

Your personal circumstances are the most important factor in deciding which type of life cover suits you the best. As your life evolves, your life insurance policy should evolve with it. If your family increases or if you move into a new home it would be the best to adopt your life insurance policy accordingly.

Term Insurance, or as it is sometimes called Fixed Term Assurance, is the simplest and the most affordable way to protect your loved ones. If you die or fall critically ill, during the term of the policy, your choosen beneficiaries will received a lump sum of money.

As every parent knows, as family grows, the financial commitments grow as well. Very few things can be left to spontaneity of the happy ends and more and more things need careful planning. Just consider what would happen when family drops from two incomes to just one, if one parent decides to devote a full-time attention to the new born child. The really important question to consider here is what would happen if the main wage earner becomes redundant or if he or she dies?

In this case, for a self-employed person, situation will be even more precarious, because he or she would need to set a large portion of a monthly income aside, just in order to support the whole family. Self-employed person will need to asses for how long could the whole family survive, just on savings alone.

Parents would need to think, in such a case, who would take on childcare and how much would that childcare cost?

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DECREASING LIFE INSURANCE There are two types of the life insurance policies ...

There are two types of the life insurance policies. With level term life insurance the final amount of the settlement remains constant during the life of the policy.

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With the Decreasing Term Life cover (the same as Mortgage Protection Policy), the amount of the final payout keeps on getting smaller and smaller, until finally at the end of the term becomes all but insignificant. The decreased term cover is designed to help with repayment of the mortgage arrears on the property, should you become unable to continue making your mortgage repayments. Once your insurance premiums are agreed, they will never rise during the period of the cover.

If you are starting a family or beginning in a new job, maybe it is a time to start thinking about what would happen to your loved ones if you were to die suddenly. A mortgage protection insurance policy will provide you with a piece of mind, should such an event happen. You are safe in knowing that your family won't need to worry about continuing to pay off the mortgage arrears each month.

 

CRITICAL ILLNESS COVER In a case that you are diagnosed with a incapacitating illness, that is covered under the terms of our policy ...

This type of cover is designed for securing your income in case of an fatal accident. You can secure up to 65% of your current personal annual income.

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Critical Illness option covered as well.

In the case of an accident or the onset of a critical illness, you yourself or the beneficiaries, like members of your family, will receive a monthly income until you are able to return to work, or you retire, or the plan ends.

The assesment of your ability to return to work will be base on your 'own occupation'. That means that income protection installements will be stopped only once you are fit to return to your previous occupation.

The insurance premiums for this type of protection will be reviewd on the yearly basis. In a case of any premium review we will give you 30 days notice and most probably these premiums will increase with your age. After providing the details of the initial medical assesment, you will not be required to provide any further information on that subject.

 
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D I S C L A I M E R

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