Insurance

Insurance Introduction

Goldman Insurance offers the full range of protection products from the markets leading providers such as Legal & General, Scottish Provident, BUPA, Liverpool Victoria, Standard Life, Scottish Widows just to name a few. Our purchasing power enables us to better the quotes received by clients from many of the companies found on the high street.

For example:

• £100,000 life cover over 20 years for a 30 year old male non-smoker would cost £10.59 per month with the abbey but only £7.26 via Goldman Insurance a saving of over 30%
• £100,000 life cover over 20 years for a 40 year old female non smoker would cost £15.82 per month via Abbey but only £10.40 via Goldman Insurance saving of over 30%

Contact Goldman Insurance to find out how much YOU could save!

Which Policy...

If your policy is to protect a repayment mortgage or other loan you may want to consider decreasing term assurance where the cover reduces in line with the mortgage and expires when the mortgage is finally repaid.

If your policy is to protect an interest only mortgage or other loan where only interest payments are being met you may want to consider Level term assurance where the cover will remain constant throughout the term and expire when the mortgage is finally repaid.

If your policy is to protect your dependants, you may want to consider level term assurance, where the cover will remain constant throughout the term and can be set to expire when your dependants reach an age of non- dependency. Alternatively a family income benefit plan can be used to provide a regular tax-free income to your dependants, rather than a one off lump sum. You should also consider writing your policy into a trust. This is a simple way of making sure the proceeds will be paid straight to your dependants quickly and avoiding inheritance tax.

Term Assurance

Pays a tax-free lump sum in the event of death during a specified period in return for a fixed monthly, or annual, premium. At the end of the term the policy finishes and there is no maturity value. As a result this is the cheapest and simplest form of life cover available. There are two types available, level and decreasing.

Level Term provides a lump sum, which will remain constant during the term of the plan.

Decreasing Term provides lump sum payment, which decreases during the term of the plan.

Family Income Benefit is another form of term assurance. It will pay a regular monthly tax-free income in the event of death to your dependants for the remainder of the term of the policy.

Critical Illness Protection is an optional extra under all term Assurance Plans which allows for the lump sum to be paid not only on death, but also in the event of diagnosis of certain critical illnesses, such as Heart Attack, Stroke, Major Organ transplant, Blindness, Total & Permanent Disability etc. Critical Illness can be provided on either a guaranteed or reviewable premium basis.

Guaranteed Premiums offer the most security, as the premium charged for the cover will never change during the term of the policy; however they are the more expensive option.

Reviewable Premiums are more affordable initially however premium levels are normally reviewed on a regular basis after the first five years are likely to increase.

Terminal Illness Protection this benefit means that the sum assured will pay out if you are diagnosed as having less than 12 months to live- in simple terms as advance payout. All our policies include terminal illness as standard at no additional cost. Terminal illness should not be confused with critical illness, which is an entirely different benefit.