term life insurance

•Who is Strategic Insurance Services Ltd (SISL)?
We operate as a traditional broker and as a Broker at Lloyd’’s. We also act as a managing general agent and have been providing niche insurance products since 1997. We are authorised and regulated in the UK by the Financial Conduct Authority (FCA). We have considerable experience in the provision of individual and corporate products as well of the design of bespoke solutions.

•Who can buy cover?
Cover can be provided to individuals for loss of income or to protect against mortgage/loan payments. Corporate entities can protect against loss of revenue or for the payment of salaries to those unable to perform their employment functions.

•Who will the beneficiary be in the event of a claim?
The nominated beneficiary or the individual’’s estate will receive the benefit of any claim made under the policy. Benefits payable would be tax free. Should the benefit be purchased by an employer or other body then they would be the beneficiary, they are then free to choose whether the benefit is paid to the individual employee/member or whether it goes to covering their loss of income or used to fund the cost of recruitment and funding of a replacement.

•How does it work?
The product is designed to provide financial compensation to protect an individual or a company should you/an employee sustain a bodily injury following an accident or as a result of the insure person suffering an illness. The compensation can be in the form of a lump sum benefit or monthly/weekly benefits depending on the coverage purchased.

•What is the maximum policy term?
Cover can be provided for a minimum of 1 year up to a maximum of 10 years. The annual premium agreed at the inception of the policy is fixed for the duration.

•How much cover can be bought?
The sum assured is generally linked to a person’s income and depending on their age this is available up to a multiple of ten times. Cover can also be purchased to cover an individual’’s liabilities such as a mortgage or personal loans. For corporate policies the sums insured are usually linked to a justifiable financial loss for a company in the event of an individual’’s death.

•What are the main exclusions?
There are no specific exclusions unless there be nondisclosure or misrepresentation of a material fact in the proposal or in statements made to the medical examiner if applicable.

•How do I apply for cover?
The age of the individual life, the term and the sum assured required will have a bearing on the extent of the information insurers will require to assess the risk. The requirement may be as simple as a proposal form, but could also require a full medical assessment including blood and urine analysis.

•How do I make a claim?
The nominated beneficiary or a representative of the estate should contact the Intermediary through whom the contract was affected, or they may contact the Claims Manager of the insurer in writing directly the details of whom will be provided in the policy wording.