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Our Services

Life Insurance

Life insurance is a fundamental part of your financial security, at Claremont we take your insurance and protection planning needs very seriously.

Events such as death, sudden illness or injury can have a dramatic impact on our finances. That is why families and businesses put in place insurance policies to guarantee a secure financial future even if the worst happens.

The following plans are available:
  • Critical Illness Cover
  • Term Life Cover
  • Disability Cover
  • Income Protection Insurance
  • Whole of Life Insurance
  • Medical Insurance

There are two major types of life insurance policy:
  • Whole of Life Cover with a residual value.
  • Standard Term Cover with no residual value.

You will need to speak to one of our advisors about the range of available types of cover, we work closely with the leading providers to tailor a solution to your specific needs.

  • Are life insurance payouts taxed?
    Life insurance pay-outs are not liable to income tax or capital gains tax but, depending on the circumstances, your heirs could be liable for inheritance tax on the funds; it’s worth looking into having your life insurance policy written in trust in order to avoid this.
  • What type of policy should I buy, term or whole of life (WOL)?
    The kind of coverage that’s right for you depends on your circumstances and financial goals. Generally speaking, term offers the greatest coverage for the lowest initial premium and is a great solution for people with temporary needs or a limited budget. WOL insurance may make more sense if you anticipate a need for lifelong protection, or if the option of accumulating a policy with a residual value is attractive to you. Also, it doesn’t have to be one or the other. Often, a combination of term and WOL insurance is the right answer.
  • How much life insurance do I need?
    Unfortunately, it is not that simple. Determining how much life insurance you need requires an examination of your current and future financial obligations, along with the resources your family could utilise. The difference between the two—your financial obligations minus the resources your family has to meet those obligations—is the approximate amount of additional life insurance you need. To get a better understanding of how much life insurance you and the family require, please get in touch with one of the team to arrange an initial meeting.