A Guide To Life Insurance - More Term Assurance Examples ....

 

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More Term Assurance Examples...

Example

Mr Black wishes to provide for his wife and children.

He wants to ensure that they have an income of £250 a week to make up for the absence of his earnings.

To provide this benefit ( £22,500 per annum) over 25 years will cost the 37-year-old Mr Black about £280 per annum before tax relief. To ensure his wife's security if he should die near the end of this period, Mr Black also takes out a level term assurance with a sum assured of £220,000 with a 25-year term at a cost of about £290.

The total annual cost after tax relief is £21140.

25.

The exact combination of policies needed will vary very much according to circumstances.


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Mr and Mrs Argent are in their early 40s and have two children aged 12 and 15. Apart from mortgage protection they have no life insurance.
To provide for his wife and family while the children are still dependent, Mr Argent takes out a 10-year FIB for £22,500 per annum at an annual cost of £233. To provide financial security for his wife, he also takes out a level term assurance for £220,000 over 20 years at a cost of £21114. The total annual cost after tax relief........ see: click here for Term Assurances In 2015


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