Protection
How much does life assurance cost?
Your premium will vary depending on the type of policy, the size of the sum insured and the risk of a claim – if you have a dangerous job, for example.
Also, age is a factor, so life insurance will be more expensive for an older person. Similarly, if a customer is in poor health, they can expect to pay a higher premium.
The insurer will consider occupation, hobbies, lifestyle – such as weight and fitness – to help determine their premiums.
Why do I need life insurance?
Life assurance is optional however there are many reasons to have it in place, for example if you have a partner or family who may struggle to cope financially, then life insurance could offer the help they need at a very difficult time.
What is life insurance with decreasing cover?
A decreasing term policy provides a level of cover which decreases throughout the term of the policy, broadly in line with a repayment loan or mortgage. This is usually a cost-effective way to achieve the required level of cover.
How much life insurance do I need?
It depends on your individual circumstances. You may want to think about leaving a lump sum to your dependants, inherence tax & estate planning or help clear an outstanding mortgage on your death.
What’s the difference between Terminal Illness Cover and Critical Illness Cover?
Terminal Illness Cover is usually included in Life Assurance policies at no extra cost. It could pay out your chosen amount of cover if you’re diagnosed with a terminal illness and have a life expectancy of 12 months or less, rather than on death.
Critical Illness Cover is an additional policy. It’s designed to pay out your chosen amount of cover if you’re diagnosed with one of the providers specified critical illnesses (for example heart attack, stroke etc) during the length of your policy.
What is Life Assurance and how does it work?
Life Assurance is an insurance policy that helps to protect your loved ones financially in the event of your death. You choose the amount of cover you need and the length of time you want to be insured for.
It could be used to help repay a mortgage or help protect the family’s lifestyle and everyday living expenses. Life assurance is also known as life insurance, mortgage protection or level term assurance.
Mortgages to Purchase a Property
Mortgages to purchase a property a fee of £495 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Remortgages
For processing a remortgage a fee of £295 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Rate Switch / Product Transfer
For processing a product transfer/rate switch where you are remaining with your current lender a fee of £145 is payable on application.
Adverse Credit
For applications where there is a history of adverse credit then a total fee of £495 will be charged, of which £245 is payable at the point a personal recommendation is made, whether you decide to proceed or not. The remaining £250 is payable if/when an application is made and is refundable if we are unable to obtain a mortgage offer.
Equity Release Mortgages
A total fee of £990 will be charged, of which £495 is payable at the point an application is made with a provider. The remaining £495 is payable if/when the application completes.
We can accept payment via bank transfer, credit/debit card via PayPal.
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Sentry Advice Limited are authorised and regulated by The Financial Conduct Authority and are entered on the Financial Services Register (www.fca.org.uk/register) under reference number: 624557
Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it. All enquiries will be passed to a regulated Adviser with appropriate qualifications. The information on this website is for use of residents of the United Kingdom. No representations are made as to whether the information is applicable or available in any other country which may have access to it.
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