Frequently asked questions about life insurance

How much Life Insurance Cover do I need?

You may have an idea of how much protection your family would need to repay outstanding debts or what would be needed to provide adequate income.

Most people underestimate the amount of cover they require. Simply covering your mortgage and debts may not be enough cover. If your family loses it's main source of income how would you be able to manage financially to pay for other living costs that continue such as council tax, food, utilities etc?

If you are unsure please contact one of our friendly trained advisers who can help you.

How much will Life Insurance cover cost me?

There are many factors which affect the cost of cover. These include the amount of benefit, the length of time cover is required, your age, health and lifestyle.

The final choice of insurance provider will depend on a combination of all of the above factors. Using our experience we can select the right products and provider based on your circumstances to ensure the cheapest premium for the right type of cover.

You can get as many quotes for cover here for free and we don't require your contact details. Alternatively, call us on 0844 567 4758

and we can help you personally.

 

What are my options when buying Life Insurance?

Level or Decreasing Term Assurance?

Level Term Assurance does what it says. The benefit paid out by the policy is decided when the policy is purchased and remains the same. With this policy you know exactly how much money you will receive. This type of policy is often purchased as Family Protection and can be used to repay a mortgage/ debt and leave a lump sum.

Decreasing Term Assurance is usually bought to repay a mortgage or debt which is reducing over time. You decide how much cover is required over what time period and the benefit paid out decreases as time passes in line with the debt you are repaying.

Waiver of Premium

If you wish to add this option it will ensure your premiums are paid after 6 months if you are unable to work through illness.

Increasing Benefit Option

If you wish to ensure the benefits of the life insurance policy are not eroded by inflation you can choose the increasing option. Both the premiums and the benefits will increase throughout the term of the policy.

You can choose a fixed percentage amount or for the increase to match an inflation measure, e.g. RPI.