Life assurance is one of the simplest, yet most important, forms of financial protection. It ensures that if you were to pass away during the policy term, your loved ones would receive a lump sum to help them maintain stability at a very difficult time.
At Taylor James Financial Services, I offer clear, independent advice to help you choose the right type and amount of cover, ensuring your family’s financial future is protected, whatever happens.
What Is Life Assurance?
Life assurance (also known as term assurance) provides a lump-sum payment if you die during the term of the policy. It is designed to protect your loved ones — not to build an investment or savings fund.
There is no cash value if you survive the policy term, and it is not investment-backed. Instead, it offers straightforward peace of mind: financial protection when your family needs it most.
Why It Matters
Life assurance provides your family with a tax-free lump sum that can be used to:
- Repay a mortgage or other debts
- Cover rent, bills, or daily living expenses
- Pay for childcare or education costs
- Provide longer-term financial security
It can also give your partner or dependents breathing space, allowing them time to make financial decisions without pressure at an already emotional time.
At Taylor James Financial Services, I’ll help you calculate the right level of cover for your circumstances, balancing affordability with peace of mind.
Types of Life Assurance
There are several types of life assurance, and I’ll guide you through which option best suits your goals: -
- Level Term Assurance – pays a fixed lump sum if you die within the policy term. Ideal for family protection or covering an interest-only mortgage.
- Decreasing Term Assurance – the cover amount reduces over time, broadly in line with a repayment mortgage balance. This is typically used for mortgage protection.
- Family Income Benefit – instead of a lump sum, it pays a regular income to your family for the remainder of the policy term, helping them maintain their standard of living.
Life Assurance can be taken out either individually or jointly with a partner. You can take out life assurance on its own or combine it with critical illness cover for broader protection.
Added-Value Benefits
While life assurance is primarily about providing financial protection for your family, many insurers now include added-value services to support your wellbeing in everyday life. Depending on your provider, these may include:
- 24/7 online GP access
- Bereavement counselling or grief support
- Mental health and wellbeing services
- Second medical opinions
These extras are not the reason to take out cover, but they can offer meaningful additional support during difficult times, both before and after a claim. Not all of these benefits are available if you purchase your insurance directly via the insurer, through your bank or from a price comparison site. This is where the benefit of using truly independent advice, not tied to any financial institution, comes into its own.
How I Work with Clients
When you speak to Taylor James Financial Services, you’ll deal directly with me — your adviser. My role is to make life assurance advice simple, clear, and personal.
Here’s how I’ll help:
- Understand your family situation, mortgage, and financial goals
- Compare policies from across the market and explain your options clearly — in plain English, without jargon or sales pressure
- Tailor your policy to your budget and protection needs
- Handle the application and paperwork
- Review your cover over time to ensure it remains suitable.
Why Choose Taylor James Financial Services?
- Independent, whole-of-market advice — not tied to any insurer, meaning that we’re giving you access to the best products and insurers, based on your specific needs and circumstances
- Personal service — you deal directly with me, your adviser
- Clear, jargon-free guidance
- Flexible options to suit your budget and priorities
- Ongoing support and policy reviews
- Access to insurers that provide added wellbeing and support services.
Call us today for a no obligation chat about planning your financial future.
Call: 0203 859 3320
Email: contact@taylorjamesfs.co.uk
Please note:
- The plan will cease at the end of the term. If premiums are not maintained, then cover will lapse.
FAQs
Work benefits are great, but they usually stop when you leave that job. Life assurance is yours to keep, and you choose how much it pays out — so your family won’t be left unprotected if you change employer.
A joint policy can be cheaper and pays out once (usually on the first death). Two single policies cost slightly more but provide twice the cover and can pay out twice if both partners pass away.
Not always. Most policies only require basic health questions, and only larger amounts of cover may trigger a nurse screening or GP report. I’ll guide you through what’s likely for your situation.
Not always. Most policies only require basic health questions, and only larger amounts of cover may trigger a nurse screening or GP report. I’ll guide you through what’s likely for your situation.
It depends on what you want to protect. If it’s a mortgage, match it to your term. If it’s family protection, you might want cover until children are grown or until retirement age.
Not necessarily. Even without children, life assurance can help a partner, pay off debts, or fund funeral costs — preventing financial stress for those you leave behind.
If you outlive the term, the cover simply stops — there’s no payout or refund. It’s designed as pure protection, not an investment.
FAQs
Work benefits are great, but they usually stop when you leave that job. Life assurance is yours to keep, and you choose how much it pays out — so your family won’t be left unprotected if you change employer.
A joint policy can be cheaper and pays out once (usually on the first death). Two single policies cost slightly more but provide twice the cover and can pay out twice if both partners pass away.
Not always. Most policies only require basic health questions, and only larger amounts of cover may trigger a nurse screening or GP report. I’ll guide you through what’s likely for your situation.
Not always. Most policies only require basic health questions, and only larger amounts of cover may trigger a nurse screening or GP report. I’ll guide you through what’s likely for your situation.
It depends on what you want to protect. If it’s a mortgage, match it to your term. If it’s family protection, you might want cover until children are grown or until retirement age.
Not necessarily. Even without children, life assurance can help a partner, pay off debts, or fund funeral costs — preventing financial stress for those you leave behind.
If you outlive the term, the cover simply stops — there’s no payout or refund. It’s designed as pure protection, not an investment.