Life insurance helps provide financial security to your loved ones should you pass away. Let our award-winning UK team explain how life cover can work for you.

Which companies provide cover in the UK?

Many companies provide cover in the UK. Such as Insurance companies, Banks and specialist insurers that don’t deal directly with the public.

Are there different types of life cover?

There are different types of life cover, and each cover different aspects of your life. Click on the links to find out how they work and what they cover best.

  1. Level term cover 
  2. Increasing term cover
  3. Decreasing term

4. Family income benefit

5. Gift inter vivos

6. Whole of Life cover

7. Over 50s cover

8. Funeral cover

Cheerful black parents enjoying with their daughter in autumn day.

What benefits does life insurance provide?

The benefits that life insurance provides is either a lump sum or monthly payout to your dependants when you die. As well as many additional benefits when you are alive. Such as 24/7 remote private GP services, mental health support, rehabilitation support services depending on insurer.

Is it important to be covered by life insurance?

If you have dependents relying on your income to provide them with a place to live and pay bills. It is important to be covered by life insurance. If you don’t have anyone dependent on you, then income protection – which pays out a replacement income if you are too ill to work may be more important to you. In addition, critical illness that pays out a lump sum should you become seriously unwell or have a severe accident will be important.

How can I lower the premiums on a level-term insurance policy?

Your expert Future Proof adviser will help you to find the lowest premiums available to you in the market. For lower premiums on a level-term insurance policy, it helps if you are young, fit, and healthy with few pre-existing medical conditions. Keeping your premium down is also easier if you don’t smoke, don’t drink too much alcohol and don’t take part in dangerous sports or activities.

Frequently asked questions from new clients about life insurance

  • Life insurance is worth is when you have dependents relying on your income and presence to take care of them.

  • There are many types of life insurance, from: 

    • Mortgage protection
    • Family protection
    • Loan protection
    • Funeral payment protection
    • Over 50s life insurance
    • Family income benefit

    Our expert advisers will match up the protection type to your needs. Sometimes more than one type of life insurance is needed, we can advise and keep within your budget.

  • A life insurance premium is payment that you pay your insurance company. In return they provide your loved ones with a lump sum payout when you die. Most typically, premiums are monthly, although some insurers allow annual premiums.

  • To buy life insurance, you will need to know how much you are going to insure and for how long. Your Future Proof adviser can help you answer these questions and put your policy in Trust at no additional cost. As soon as your policy starts, you should put your policy in Trust. This will ensure that the payout will go directly to who you want it to both quickly and tax-free.  Our advice is no-obligation – we get paid by the insurer if you decide to take a policy out with them.

  • It is advisable to cover:

    • Your life if you have dependants, to keep a roof over their heads
    • Your income if you become too sick to work and have to pay bills and rent/ mortgage

    A lump sum if you become critically ( seriously) ill to pay for any rehabilitation, your mortgage or disability adaptions for the home.

  • A life insurance policy is based on many different factors

    • Age
    • Lifestyle
    • Weight
    • Occupation
    • Policy length
    • Medical history
    • Amount insured
    • Family medical history

    Each factor gives the insurer an idea of whether cover should be provided and if so what premium to offer.

Is life insurance an investment?

Life insurance is not an investment vehicle. If you don’t die within the term or if you cancel the policy, you won’t get anything back.

How long does a life insurance policy last?

How long a life insurance policy should last depends on what the policy is for:

  • For a mortgage, the policy should last until you have paid the mortgage off in full
  • For family cover the policy should last until your dependents are no longer dependent on you
  • For family income benefit, the policy should last until your children are grown up and out of private education or university.
  • For funeral cover, the policy if it is a whole of life one will last until you die.

What is a life insurance beneficiary?

A life insurance beneficiary is a person who will receive the insurance payout.