In essence, life assurance is to ensure that those around you are not left disadvantaged in the event of your death.

Life assurance can be put in place to ensure that known liabilities - mortgage, loans, business debts, potential inheritance tax - are covered upon death, leaving fewer problems for those around you at such a difficult time.

It can also be taken to ensure that funds are left to cover the ongoing costs of dependents to ensure that the quality of life for your loved ones does not have to deteriorate after your death.

As with most financial products, there are a variety of different versions of life assurance available, although all of these centre basically around three forms - Whole of Life, term assurance and endowment.

In many instances, individuals already hold life assurance - for many Death-In-Service - a form of life assurance will be applicable.
It is though important that the levels of life cover are reviewed at regular intervals, not only because personal circumstances change, but also because life assurance premiums do fluctuate and therefore it may be possible to restructure your existing cover and save money or simply increase the level of cover for a comparative cost.

Life assurance can be issued in an individual name - the assured - or on a joint life basis - ie husband & wife.

If you would like to discuss your life assurance requirements further, please click on the link below, or click on the individual links to discover more about the three core types of assurance.