Life Insurance

What is  Life Insurance

Life insurance pays out a sum of money on the death of you or a loved one, Financial Adviser Cardiff. Life insurance is usually arranged to repay a mortgage or other financial commitments but can also be arranged to pay for funeral costs, or to provide an income for you or your family.

The amount you require and the term both effect the premium you will pay, other factors include your age, health and lifestyle.

Term Assurance

Life insurance, also referred to as term assurance is designed to pay out a lump sum in the event of death of the life assured within a specified term.

There are three main types of term assurance to consider when taking out a life insurance.

  • Family Income Benefit – pays a pre-determined income to your or your family for a specified term
  • Level Cover – pays out a lump sum if you die while covered by the policy. The amount you’re covered for remains the same throughout the term of the policy
  • Decreasing Term – the amount you are covered for decreases over the term of the policy. This type of policy is usually used to cover a debt that reduces over time, for example, a repayment mortgage

Whole of Life & Over 50s

Whole of life and Over 50’s policies are ongoing policies that pay out when you die, whenever that may be.  These policies can often be more expensive than term assurance policies, which only pay out if you die within a fixed period of time.

We advise that all life policies be placed in a trust for your chosen beneficiaries, as this can help to avoid long probate and mitigate against the policy proceeds being subject to inheritance tax.


At Premier Financial Solutions, we will identify your specific requirements and recommend policies suitable for your needs, providing you with peace of mind that you and your loved ones are protected.

For friendly and straightforward advice contact Premier Financial Solutions: 02920 099150

As with all insurance policies, conditions and exclusions will apply.