Term assurance (level) - protection for dependants on death
Term assurance (decreasing)- loan repayments, family income benefit
Term assurance (renewable and convertible) - cheap life cover with option to renew/ convert without further medical evidence
Endowment assurance - loan repayment on death/ survival, savings
Pure endowment- loan repayment on survival savings
Whole life assurance- funeral costs, protection for dependants, wealth transfer/ inheritance tax planning
Critical illness- medical treatment, protection for dependants, lifestyle enhancement on getting a serious, often terminal illness
Long-term care- nursing home or home care in old age
Income protection- income when off work due to sickness/ accident
Immediate annuities- school fees or income in retirement
Deferred annuities- retirement savings
Income drawdown- retirement provision
Investment bond- longer-term flexible investment with life cover
Keyperson cover- sum for loss or replacement of key business person