Decreasing Term

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Stevens Financial Services Ltd is an Appointed Representative of Personal Touch Financial Services Ltd, which is authorised and regulated by the Financial Services Authority. FSA no 409368. We normally do not charge a fee for Mortgage Advice, however, a fee paying option is available. Our typical fee is £299. Some of the above products/services may not or are not regulated by the Financial Services Authority. Stevens Financial Services Ltd. Registered in England. Co. Reg. No. 5045806

Term Insurance

Term insurance is the cheapest form of protection and it can offer high life insurance cover for a low premium. This can be ideal if you have a limited income. Cover can be arranged to cover just one person or in some cases cover will also be available for spouses/partners in the same policy.

There are several different types of term insurance.

Decreasing Term – The sum insured reduces by a fixed amount each year, decreasing to nil at the end of the term. If guaranteed, the premium will stay the same throughout the term.

These policies are usually used to cover a mortgage or other loan as they pay any outstanding balance of the debt if you die early. Remember, though, at the end of the term nothing is payable and there is no surrender value.

Common Uses For
Decreasing Term Assurance

·	Mortgage - To ensure that a Repayment mortgage is repaid in full in the event of death.

·	Inheritance Tax Protection - They can also be used to protect a liability to Inheritance Tax on gifts to others

Want to add a little more to the basic cover?

To enhance the level of protection this basic plan can provide, you can add the following benefits to the majority of plans in the market place:-

• Critical Illness Cover
• Waiver of Premium Benefit