Life insurance pays out a cash sum if you die or are diagnosed with a terminal illness during the term of your policy.
Life Insurance policies are generally arranged to help families cope with the financial pressure of losing a loved one. There are various forms of life cover, suiting all sorts of needs.
On the whole, people take out life insurance for three main reasons:
- To repay the mortgage – your home is usually the largest investment you will make, and life insurance is a great way to ensure that it is properly protected.
- To provide for their family – life insurance can help insulate your family from the financial impact resulting from your death.
- To pay for funeral costs – funerals are often a forgotten expense, but nowadays one typically costs around £3,600*.
Life Insurance policies can be taken out on either a single or joint life basis, depending on your requirements. A joint life policy will pay out on the death of the first policyholder.
To speak with one of our advisers, who will be happy to discuss your life insurance options and provide you with a quote (which will always be confirmed in writing) from one of the UK’s leading life insurers, please call us on 0800 644 4468