Teachers Assurance is a trading name of Teachers Provident Society (TPS) and is based in Bournemouth. They were started by the National Union of Teachers in 1877, as a friendly society, to provide sick pay, annuities and endowments for the education profession. This was at a time when teachers received no financial help or pensions from the Government.
Being a mutual organisation means Teachers Assurance have no shareholders to pay. In 2014 LV= agreed to takeover Teachers Assurance to complete in 2016.
Teachers Assurance range includes insurance, savings & investments. For Teachers Life Insurance, products are currently via 3rd party Mutual Society Insurers - Royal London Bright Grey and Exeter Friendly. They are designed to also help top up any protection benefits from Teachers Superannuation Scheme.
Looking in 2020 to compare old or new Teachers Assurance products.
TEACHERS INSURANCE - PRODUCT REVIEW
Designed to cover a repayment mortgage on death or terminal illness as it decreases during the plan term.
WHOLE OF LIFE INSURANCE COVER
A whole of life policy that will always payout whenever death may occur. Premiums maybe reviewable in the future.
Offering family protection if the policy holder dies or is diagnosed with a terminal illness during the term.
CRITICAL ILLNESS COVER
Helps ease financial worries if you or your children are diagnosed with a critical illness as specified by Bright Grey Insurance.
Providing security by way of an income if you are off sick or have an accident or disability as specified by Exeter Friendly.
OVER 50'S LIFE INSURANCE COVER
A no medical evidence life insurance policy, level or indexed linked, to always payout whenever death may occur perhaps for funeral costs - but only after an initial period.
PPI - ACCIDENT SICKNESS REDUNDANCY
Protect your mortgage payments & bills if off sick, have an accident or lose your job.
TEACHERS ASSURANCE ENDOWMENT POLICY - Life or Critical Illness
Offering protection if the policy holder dies or is diagnosed with a critical or terminal illness during the mortgage plan term; Designed to provide a lump sum at the end to be used usually toward repayment of an endowment interest only mortgage loan.
Article on: Teachers Insurance ~ for more information visit www.teachersassurance.co.uk *
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FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A LIMITED PANEL OF PROVIDERS
Teachers Life Insurance