Our mission at Kind Financial Services Ltd is to get our customers the insurance products that are best for them. With access to hundreds of different insurance products across the market, we use our expert knowledge to bring you the products most suitable to your specific situation, along with advice on the best course of action for your needs.

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There are two key types of life insurance – level term and decreasing term. Level term protects you for a given term for a fixed benefit. The amount of life cover chosen at the outset will be paid whether a claim on death is made in the first year of the term or the last year. Quite often a payment would be made on the diagnosis of a terminal illness before the last 18 months of the plan, where you had 12 months or less to live. This type of protection may be suitable for family protection and Interest Only Mortgage debt, where the level of debt on the mortgage does not decrease as the years progress, however, this would depend on individual circumstances and you should seek further advice.

• Provides a lump sum on death or terminal illness to help provide a financial buffer for your family or to pay off debts.
• The level of cover remains the same throughout the term of the policy.
• The policy pays out if you die during the term of the policy – or if, before the last 18 months of the term, you are diagnosed with a terminal illness. (A terminal illness means you are not expected to live for more than 12 months).
• Life insurance policies will only pay out once within the agreed time, so if the policy pays out because of a terminal illness claim, the policy and cover will end.
• Paying out on diagnosis of terminal illness may be proportionate to the level of cover under a death claim.
• Protection plans with no investment element will have no cash in value at any time. If premiums are not maintained then cover will lapse.

• Provides a lump sum on death or terminal illness which can be used to cover outstanding repayments on a mortgage or loan.
• The level of cover reduces each year – in line with the sum you owe.
  If you die within the term of the policy, it will pay out a lump sum, to help clear whatever is outstanding on your debt at that point.
• Protection plans with no investment element will have no cash in value at any time. If premiums are not maintained then cover will lapse.

We don’t like to think of ourselves or our loved ones being struck down by a serious illness, but it’s a sad fact of life that that critical conditions such as heart disease, cancer and strokes are common and can quickly develop without warning.

The principle of critical illness cover is straightforward; in the event of one or more of the specified illnesses being diagnosed, the insurance company will pay out a lump sum after a specified survival period. Often, critical illness cover is combined with other types of insurance and may even provide an investment element so that, for example, a given sum will be paid out on the death of the insured.

It’s important to check the details of critical illnesses policies to ensure they cover what you think they cover. Kind Financial Services can use our insurance expertise to help with this and advise on the most suitable policy for your needs.

Critical illness plans may not cover all definitions of a critical illness. The definitions will be contained in the Key Features and Policy Document if you go ahead with a plan.

With NHS waiting lists growing ever longer, private medical insurance helps ensure that when you get ill or suffer an injury, you can get treatment quickly, normally through private hospitals.

Premiums are calculated on the basis of age and the type of cover required and there is a wide range of different insurances to choose from.

At the basic level, PMI kicks in when you need specialist treatment or you need to go into hospital. Some policies will cover you if the NHS cannot provide treatment within a certain period of time.

At the higher cost end of the market there are policies that cover a wide range of medical services such as dentistry, eye care and even spectacles, although the more a policy covers, the greater the premium will be.

Family Income Benefit protects a level of income for a fixed term. In the event of death, the amount of income chosen at the outset will be paid for the remainder of the term of the plan. Often the term is set to protect you until your youngest child is 18 or 21.
Family Income Benefit is one of the least expensive forms of life insurance and differs from most other types in that it is designed to pay the benefit, in the event of death, as an income rather than a lump sum.

Depending on your circumstances, indexation might be an option for this type of plan to protect the purchasing power, although the benefit can be level. If indexation is elected at the outset, the premiums and benefit would rise annually, normally by Retail Price Index.

In the event of a claim, income can be paid monthly, quarterly or annually and under current rules the income is tax-free. This makes it ideal for Family Protection where a family are looking to insure the main breadwinner over a specific term, for example to their retirement age.

Family Income Benefit can also include Critical Illness Insurance which is designed to pay the selected income if the policyholder is diagnosed with a critical illness within the chosen term. Critical illness conditions vary from insurer to insurer but in general include such conditions as some forms of cancer, some forms of heart attack, and stroke etc. In addition to these “”core conditions”” applicants can also select comprehensive cover which usually includes 25 to 30 additional conditions.

Family Income Benefit is a low cost, tax efficient solution to Family Protection.

Unsure about what form of Life Insurance you need? Kind Financial Services can discuss all the options with you in detail and help you make an informed decision on what type of product will best suit your needs.

Protection plans with no investment element will have no cash in value at any time. If premiums are not maintained then cover will lapse.