To complete your journey to financial protection security for you and your family.
Think of it as a financial safety net for your loved ones if you unexpectedly pass away. It’s a financial security blanket, ensuring mortgages and large financial commitments don’t become mountains of stress and future dreams don’t get buried under bills.
This will give you invaluable peace of mind that your family will have financial security after you have gone.
Policy flexibility provides you with a range of options to allow you to pay off a mortgage, leave a lump sum to family or use it to cover funeral costs. There are many different types of policies, to suit everyone’s needs.
When you take out a life insurance policy you pay a monthly premium, in return your insurer agrees to pay a sum of money to your beneficiaries if you die.
Policies usually cover a fixed term, however, some policies can run for the rest of your life. You simply choose how much cover you need, and the duration of your cover. You can then choose to decrease, or increase cover depending on your circumstances.
Your health can affect the monthly premium you pay. So, there is usually a quick and simple medical questionnaire to complete before the insurance provider will approve your cover. Once covered though, any changes to your health don’t need to be disclosed to the insurer.
You can nominate your family members or beneficiaries by placing your policy into trust. By doing this, the insurer knows who to pay in the event of your death. They will also be able to pay your nominated beneficiaries quicker than if the sum assured goes through probate. As it keeps the sum assured out of your estate, there is also NO TAX for your beneficiaries to pay on the lump sum.
Taking out a life insurance policy is a proactive, responsible and financially astute way to secure the financial well-being of your family and dependents if you die.
Life insurance provides a vital financial safety net, ensuring your loved ones are protected in the event of your unexpected absence. Its purpose is to provide a lump sum to cover outstanding debts, mortgages, and daily living expenses.
Beyond the financial support, life insurance offers invaluable peace of mind, allowing you to live confidently and stress free, in the knowledge that your family’s future is protected.
It is a strong visible expression of care and responsibility, demonstrating your commitment to providing for those who matter to you most.
What are the key differences between Life Insurance and Critical Illness Cover?
To continuously improve our service and built better products, we strongly believe in encouraging customers to feedback what’s working and where improvements could be made. To support this, we teamed up with the brilliant Reviews.IO, so everyone can leave honest reviews for everyone to see, in real time.
Income Protection and Life Insurance specialists
There is no limit to how much life insurance you can access. Typically, the higher the amount, the higher the premium. Depending on your age, and how much cover you apply for, the policy could be subject to medical or financial underwriting, where the insurer takes on financial risk for a fee.
Placing a life insurance policy into Trust has two main benefits. Firstly, it helps to speed up the claim process, so that the cash lump sum gets paid to the beneficiaries sooner. Secondly, as the lump sum is written into Trust, it is not subject to any inheritance tax, so your beneficiaries have no tax to pay on the pay-out