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INTRODUCTION
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MORTGAGES
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LIFE INSURANCE
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CRITICAL ILLNESS
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INCOME PROTECTION
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BUILDINGS & CONTENTS
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One of the most popular and cheapest from of insurance is basic life cover. A life insurance policy pays a lump sum in the event of your death. Life policies are taken out for a specific period of time. For example you could take one out to cover you until you reach 65. Because a life policy is a pure protection policy without any element of investment, if you survive to the end of the policy you will not receive any payment.

There are two main types of Life policies available. Level Term assurance and Decreasing Term assurance.

Term Assurance

Level Term assurance provides a fixed amount of benefit throughout the life of a policy. So for example, if you have a policy for £50,000 over a period of 20 years, the policy would pay out £50,000 whether you died in year 1 or in year 20.

Decreasing Term Assurance

Unlike Level Term assurance, Decreasing Term assurance provides a steadily reducing amount of cover which reduces as the years go by. So for example, in year 1 the policy may pay out £50,000 but in year 19 the policy may only pay out £10,000. This type of insurance is usually used to protect a mortgage. As the mortgage balance reduces as the years go by, the size of the lump sum required to pay off the mortgage reduces.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

We normally charge a fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £395.

Network Mortgages Limited is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority.