Independent Protection Advice

Q: What is the difference between level- and decreasing-term life insurance?

Level-term life insurance protects you for a fixed period, such as 10 or 20 years (some providers even offer plans through to age 90) by paying a lump sum in the event of the death of the life assured. You will receive a set cover fee that remains the same throughout the cover period. Throughout this time, you’ll pay monthly premiums for your policy and unless you have selected indexation of cover, the premiums in most cases won’t ever change but neither will it acquire a cash value except upon claim. Some policies offer terminal illness cover (see below) as an additional benefit. Decreasing-term life insurance - the cover amount decreases over time, broadly in line with the repayment mortgage or long-term loan that you’re repaying. Your premiums stay the same during the term of the policy, unless you make changes to the cover. Decreasing cover usually costs less than level cover. The policy will pay out if you die, or are diagnosed with a terminal illness, that meets the policies definition and aren\'t expected to live longer than 12 months, during the policy term. The policy only pays out once and has no cash in value at any time.

Protection planning is a highly effective way of financially protecting your loved ones if something serious happens to your health or you pass away. Our bespoke protection advice will help you find the right insurance policy for your financial circumstances and objectives.

Financial protection and insurance - do I need it?

Could you or your family find it difficult to keep up with living expenses, deal with debt or maintain their lifestyle without your income? Do you want to leave a legacy or help cover the cost of care should you need it later in life?

If the answer is yes to any of these questions then taking out financial protection or insurance is worth considering to ensure you and your loved ones stay financially secure.

Why work with an independent financial adviser to find insurance?

With many different protection and insurance options available, it’s not as simple to purchase as house or car insurance. A comparison site cannot tailor a bespoke policy to suit your individual financial circumstances and goals and opting for the wrong level of cover could prove costly.

Financial advisers can help you navigate the complexities involved in finding the right policy. Whether you need income protection advice, life insurance advice or a full financial planning service, they will evaluate your personal financial circumstances and search the whole market to identify the most suitable plan to meet your needs and set it up in the right way for you and recommending where appropriate the use of trusts to put the right money, in the right hands, at the right time.

How can a financial adviser help you with protection planning

It's important to remember that everyone's situation is different, and each policy type covers various events and financial outcomes; our financial advisers will take the time to get to know you, before searching the whole market and recommending the best protection and insurance policies which can help provide security and peace of mind.

The most common service offerings include:

Protection in the event of an accident or illness

Should an accident or illness prevent you from working, family protection insurance will secure you and your loved ones’ livelihoods.

Our independent financial advisers will guide you through a range of solutions, but there are two main ones you should be aware of:

Critical illness cover

Is a term insurance which pays out a lump sum if you’re diagnosed with a specific critical illness, such as a cancer or a stroke.

Income protection

Provides you with an income if you cannot work due to a long-term illness or accident.

These policies can provide cover over a limited number of years (typically two years) or through to your selected retirement age if you are unable to return to work.

Protection to cover your family and estate if you die

Depending on your policy, life insurance pays a one-off lump sum to your beneficiaries when you die, or regular income for a set period. Our independent financial advisers will help you identify a policy that works for you and your estate.

Protection to secure your mortgage

Mortgage protection insurance protects your loan if your income drastically changes due to illness, injury or redundancy. Our in-house mortgage protection team will evaluate your individual circumstances to advise if you need mortgage protection and find the right policy.

Benefits of protection advice with Ascot Lloyd

Full range of services to suit your needs

With Ascot Lloyd, you won’t just get protection advice, we offer a range of financial services to cater to your specific needs. Whether you are looking for investment advice, retirement planning, tax planning, or many other financial services, our team of experts are here to help.

Being independent

Being an independent financial advisory firm means we are not tied into certain partnerships or product solutions; therefore, after reviewing any existing arrangements you may have, we can search the whole market to find the most appropriate solutions to help you protect your loved ones.

Highly experienced advisers and support team

Not only do we have 150+ advisers nationwide but a team of in-house specialists and support staff to ensure you'll receive the best possible advice.

Ongoing support

Once you start your journey with Ascot Lloyd, we understand how crucial it is to have a financial plan that can adapt to your evolving needs and meet your expectations.
Review meetings can be scheduled to ensure your plan remains on track and your protection policies are still the most appropriate.

Access our independent protection advice today

Contact our team of experts to talk about life insurance advice, protection advice, and wider financial advice.

Request a callback

Frequently asked questions
about protection

What is the difference between level- and decreasing-term life insurance?

Level-term life insurance protects you for a fixed period, such as 10 or 20 years (some providers even offer plans through to age 90) by paying a lump sum in the event of the death of the life assured. You will receive a set cover fee that remains the same throughout the cover period. Throughout this time, you’ll pay monthly premiums for your policy and unless you have selected indexation of cover, the premiums in most cases won’t ever change but neither will it acquire a cash value except upon claim. Some policies offer terminal illness cover (see below) as an additional benefit.

Decreasing-term life insurance - the cover amount decreases over time, broadly in line with the repayment mortgage or long-term loan that you’re repaying. Your premiums stay the same during the term of the policy, unless you make changes to the cover. Decreasing cover usually costs less than level cover. The policy will pay out if you die, or are diagnosed with a terminal illness, that meets the policies definition and aren't expected to live longer than 12 months, during the policy term. The policy only pays out once and has no cash in value at any time.

What is whole of life insurance?

Whole of life insurance is a great way to ensure that your family will be taken care of financially in the event of your death. With this policy, your loved ones are guaranteed a payout, giving you peace of mind that they will have financial security when you're gone. Unlike other insurance policies, which have a set end date, whole of life insurance lasts until the policyholder passes away and premiums are due throughout.

Do I need to review my protection products?

It always helps to regularly review your protection plan. Ascot Lloyd’s advisers offer independent protection advice based on your personal circumstances. Our on-demand services enable you to contact an adviser if you want to reevaluate your protection policies.

Secure your future with independent protection advice