‘Mind the gap’

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In a week where Cover magazine are focusing on financial well being, it’s worth considering the importance of maintaining and protecting our benefits, as our individual needs change in the short term.

The lack of awareness and understanding around the need for short term Life Assurance (also known as stop-gap), has meant that unfortunately, some people have been left unprotected and financially worse off.

Here at Lutine, we’ve had long history of providing short term Life Assurance, where the insurable interest is for, want of a better word, ‘temporary’ and thought it would be a good opportunity to help ‘close the gap’ on ‘stop-gap’ assurance.

Why would an individual need this type of life cover? The reasons are varied however they are generally based on an immediate lifestyle change, which has an impact on either the cover which you already have in place, or on short term investments. Here’s a few examples:-

• Moving jobs – to preserve your existing “death in service” life cover where there may be a period in between employers.

• Travel – where business or leisure may take you to a location where your existing insurer will not provide life cover.

• Investment – typically property or business transactions where you may invest savings or incur a short term liability secured against your assets.

Why would a business need this type of cover? To protect the interests of their employees and the business itself, during mergers and acquisitions, for overseas contracts and outplacement support.

We have over 29 years in providing IFA, wealth management, expatriate and affinity markets with short-term life assurance. Our cover ranges from days to months, with a quick and efficient application process, ensuring that cover is quickly in place. Please contact us on enquiries@lutine.com if you would like to find out more or if you or if you have customers in need of a short term solution.

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