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What is it?
The most well known type of Insurance. This type of cover is designed to provide a financial cushion to your loved ones in the event of your death.
There are two popular forms of life insurance. ‘Term’ and ‘Whole of Life’.
With Term Assurance. You can choose the amount of cover you want and the period of time you wish the cover to last. As an example, until your children are of a certain age or until your mortgage is paid off.
With Whole of Life, you can chose how much would be paid out when you die and you will be covered for that amount until you die. This can be useful to cover the likes of funeral costs
There are many variations to both types of cover and many different providers to chose from so it can be hard to know which one is right for you. Don’t worry though, that’s where we come in…
Is Life Insurance for me?
Maybe. If something happened to you, who would take care of your loved ones? You should consider life insurance if…
YES! Providing all questions have been answered accurately and payments are up to date. Many insurance companies actually like to boast about their payout statistics! A policy is a contract between you and the insurance company so providing you keep your end of the deal so will they!
NO! Providing your policy has been set up on a guaranteed basis, your price will never increase! You do have to be careful though as not all policies are set up like this. That’s why people like to use a broker to make sure you have the right one! It’s also one of the many reasons it’s usually better to get this out the way when you’re still young!
We introduce you to the insurance company and do not provide the insurance ourselves so in the unlikely event we shut our doors your policy will not be affected!
You can! There are many sites that allow you to buy insurance yourself, however what you can't buy online is the advice! There are so many options out there and when you're dealing with something as important as you and your family’s protection do you really want to take the risk?
YES! Most policies are set up for long periods of time meaning it's very likely your circumstances will change! This is why we will regularly review your policy and make sure it still ticks all the boxes!
Good question, here's a couple reasons...
Writing life insurance in trust is one of the best ways to protect your family’s future in the event of your death. A Trust is a legal document that ensures money from a policy claim is kept separate from an estate. It mitigates inheritance tax and speeds up a claim. Not many people have their policies in trust as the process can seem a little daunting. We do it all for you though as we know how important it is!
ConsultaLife is a trading name of Consulta Financial Goup Limited who are an appointed representative of Manage Your Mortgage LTD. We are authorised and regulated by the Financial Conduct Authority
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