Menu
Testimonial 1
Since Medical & Professional took over my portfolio, I have enjoyed courteous service. They have always taken their time to listen to me and have consistently tailored their recommendations to fully meet my needs and personal circumstances. In addition to helping.....
Testimonial 2
Medical & Professional have always been invaluable with their understanding of our personal requirements. The advice they have given us over the years has been ‘’second to none’’. It has been and will continue to be a great pleasure to do business with them. I have recommended their company to friends and colleagues and will continue to do so in the..
Get a Life Assurance Quote online today!
Specific term assurance for doctors
In the case of a UK term assurance policy, the premiums are paid for a specified term only, at the end of which the policy expires without a value, hence the name. During the term of the policy there is a sum assured which is payable in the event of a claim. There are varieties of term assurance which we tailor directly to the needs and requirements of doctors.
Life Assurance Cover Explained for Doctors
Some versions have a level sum assured and others have a sum assured which decreases over the term in order to cover the balance on outstanding mortgage repayments.
The objective of term assurance for doctors is to provide protection against death or critical illness during a predetermined period, so that dependants are provided for until a mortgage or long term loan is paid off.
It is often difficult to contemplate such matters for obvious reasons, but term assurance is an essential part of the wealth management service we offer here at Medical & Professional Investment, which really does require your attention.
Varieties of UK term assurance for doctors
Here at MPI we do not adopt a one size fits all strategy to any of our wealth management services, on the contrary, we specialise in tailoring financial solutions to meet the exact requirements of junior doctors, GPs, hospital doctors and consultants.
There are a number of different varieties of term assurance you may wish to consider:
- A level term policy will pay out the same lump sum throughout the duration of the policy.
- In the case of a decreasing term policy, the payout is reduced by a fixed amount each year, ending up at zero by the end of the term. A term assurance policy is often taken out to cover the costs of a repayment mortgage, as the value of the payout decreases by a fixed amount each year in line with the value of the mortgage to pay off.
- Increasing term assurance is often used as a tool to protect an initial lump sum against inflation.
- Convertible term assurance gives the policy holder the opportunity of switching in the future to another type of term assurance such as a ‘whole of life’ or endowment policy.
ring the number above if you would like some advice…ALTERNATIVELY…please click on the tab above for a no obligation free quote.
MPI Online is a trading style of Medical & Professional Investment LLP (Registered in Wales OC338105), which is authorised and regulated by The Financial Conduct Authority. This Internet site is directed to UK residents only. You are responsible for satisfying yourself that under the laws of your home jurisdiction you may lawfully access this Internet site. Please ensure you read our User Terms, Client Agreement, Mortgage terms of business and Privacy statement. Medical & Professional Investment LLP do not provide any advice on policies arranged through the MPI Online website though the regulated firm responsible for the processing of your application remains Medical & Professional Investment LLP whose FCA registration number is 485852.