Here at NMS Financial Ltd we help individuals, families and companies protect themselves from life's unexpected events.
We specialise in building a protection package to suit your individual requirements, as everyone's needs are different, we can tailor a package to suit you and your family's needs helping you provide that essential cover that you and your family deserves.
Here at NMS Financial Ltd we offer insurance contracts from some of the UK’s top insurance companies that we work alongside.
Level term is the most common type of life insurance and is designed to provide a fixed payout to your beneficiaries. You set the term of the policy, the amount of cover that is paid out and also decide who the money goes to (known as the beneficiary).
This money could be used to support your family if you're unable to work, pay for specialist medical care or simply spend as you see fit.
Critical illness cover can also run alongside life insurance, where the policy either pays out on diagnosis of a critical illness or upon death (whichever should occur first).
This type of policy can be used to pay off a repayment mortgage in the event of the policy holder's death. For interest only mortgages, a level term policy may be more suitable.
Because the cover amount reduces over time, decreasing term insurance is usually cheaper than level term (where the sum assured stays the same or 'level' throughout the term). Like all term insurance, it will only pay out if the policy holder were to die within the term of the policy.
Unlike term insurance, which pays out when the policy holder dies within a specific time frame or 'term', whole of life insurance will pay out regardless of when the policy holder dies.
Because the insurer knows they will have to pay out, whole of life insurance can be more expensive than level and decreasing term policies.