Family Life Insurance
Family Life Insurance assures you that your family will be protected if you were to die. There is a lump sum payment made to the family once a claim is received upon your death.
To take out the policy you should be between the age of 18 and 64 years and a UK resident. The sum assured is generally higher here depending on your age. It will be paid to the family or beneficiaries if you die or are diagnosed with a terminal illness with 12 months or less to live.
What else, there is no medical examination done under this policy, only a few lifestyle-related questions like smoking or drinking habits are asked by the insurance company.
This policy is the answer to your financial responsibilities of a mortgage, funeral cost, or loss of income in case of your demise.
Guaranteed Life Insurance
Guaranteed Life Insurance is a level term policy, where the premium remains the same throughout the term of the policy and there will be a fixed lump sum payout to the beneficiaries if you die.
The sum assured is not very high in this kind policy, as there is no medical examination at all to get a cover. It is particularly useful for people who are already ill but would like to have a life cover. You need to be 50 years old or above for this policy.
Most people who take guaranteed life insurance have no major financial responsibilities. They have no mortgage to pay and their children might have left home. However, they just want to cover against funeral expenses and leave no debts for the family to repay.
Since the sum assured is fixed and guaranteed there is a certainty about how much your family will receive in case of your death.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00