Private Life Insurance ~ Quotes 15 secs

        PRIVATE LIFE INSURANCE

Compare Broker Only
        ~ Life Insurance & Critical Illness Cover

Private Life Insurance Cover Quote > Compare Quotes

On-line >15 secs 

Article on:
Broker help - compare Private Life Insurance Cover

 Private Life Insurance Cover ~ Lump Sum or Income Cover ?

There are 2 main types of private life insurance cover whether it be a lump sum or income:- Term assurance pays out only if you die within a certain term. Whole of life assurance pays out whenever you die and some plans may or may not also contain an investment element to them. By their very nature, these plans will pay out on death whenever this may occur, so cost a lot more than term assurance plans.
Note: We currently only advise on guaranteed premium private life insurance plans, so do not advise on whole life insurance with an investment element only - but can refer you to a fellow IFA from the Sesame Network should you wish.

Private Life Insurance  - Lump Sum Cover  Broker help & advice here

This is the simplest and cheapest type of private life insurance, and is known as term assurance because you choose how what term or long you're covered for eg; 10 year life insurance, 15 year life insurance, 20 year life insurance, 25 year life insurance, 30 year life insurance or 40 year life insurance (the term).

Term assurance only pays out if you die within the term you've agreed. If you live longer than the term, you get nothing. As a couple, you can also take out term cover in both your names, with the policy paying out if either of you die during the term.

Things to look out for ...What type of policy do you want? For example

  • Increasing policy (where cover and premium rise over the years)
  • Decreasing policy (where cover and premium fall over the years)
  • Renewable policies (which let you extend the original term).

Private Life Insurance - Family Income Benefit

This policy pays out a income on death to your family rather than a lump sum & maybe suitable for those who require income on death. This plan may be increasing to help offset inflation. 

Private Life Insurance Advice - Check the Small Print

Check for exclusions - in other words, when the policy won't pay out. For example, most private life insurance plans do not cover death due to alcohol or drug abuse. You might not be covered while taking part in risky sports. If your health is poor before the policy starts, some causes of death might be excluded or you might be refused cover altogether. eg; You have developed health problems such as had a heart attack, strokedepression, cancer, diabetes or say stress. Please ensure you advise the Life Insurance Companies otherwise this may result in none-disclosure & the plan is void.


Premiums shown are usually fixed for the whole term. There are also private life insurance cover contracts where premiums are reviewable, after a certain period, usually 5 years.

How flexible is a private life insurance contract? Can you reduce or increase cover easily as your circumstances change? Are there extra charges for doing this? Does cover stop immediately if you miss a payment or is there a period of grace?

Solutions for Life Insurance

By paying extra, you can usually include a waiver of premium. It pays the premiums if you can't work because of a long-term illness so that your cover is not interrupted.
If you want to change insurer, check the level of premiums for the new contract before switching (premiums may have gone up because of older age or because you have developed medical conditions). Also check the new level of private life insurance cover compared to the previous one. Different benefits may be available, and different exclusions may be applied - for example you may not be covered for medical conditions that have developed before the switch even if these were covered under the previous contract. If you do decide to change, make sure you do not cancel your original cover until you are fully covered by the new contract.

The private life insurance cover policy can be set up under trust. This means that in the event of death, proceeds of the policy are paid directly to dependants of your choice. Provided a trust is set up properly, there may be benefits to doing this. Most Insurers proivde standard trust forms. However, using a trust may not be suitable for everyone and because of the complexities we recommend you may wish to seek legal life assurance advice. 

What does my Private Life Insurance Cover Cost ?

This depends on several factors, such as the amount of cover you want and the length of the term. Naturally, it's also based on the likelihood of your insurer having to pay out: if you're a smoker and do a dangerous job, you'll pay more than a non-smoking office worker.

Term life cover also costs more for men because, on average, they don't live as long. Always compare what's covered by a New Life Cover policy, not just the price. Some might be cheaper than others, but they may not offer the same level of protection. 


New Life Insurance Quote
Get New Life Insurance Quotes

FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A LIMITED PANEL OF PROVIDERS

 

Broker advice comparing Uk LifeInsurance & LifeAssurance Quotes

 

 

 

 

 

Life Protection Insurance Quotes
Life Assurance Quotes 15 secs

Life Insurance Quotes
> 15 Secs

 

 

 

 

 

 

 

 

 

 

 
 
 
Home
Income Protection
Critical Illness
Life Insurance Quote
Mortgage Protection
Compare Insurer

 

Linkedin Martyn Spencer Calculate Button 1 Broker Help ~ Life Insurance Cover Quotes Insurance Take Care of YourselfGreat Ormond Street Charity Fundraiser

This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice. For protection products we usually offer from a range of providers. For products with an investment element we will introduce you to an authorised adviser. We may also introduce you to other selected professional partners for other protection or legal products as deemed appropriate. Online Dispute Resolution (ODR) - https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.chooseLanguage. Financial Ombudsman. http://www.financial-ombudsman.org.uk We nominate to fundraise for Great Ormond Street Hospital Charity.

UK Life Insurance Quotes is a trading style of Martyn Spencer which is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority FCA. FCA Register No: 416331

 

Secure Data Protection Registered & comply with the Data Protection Act (1998). Personal information is secure online, not misused or sent via spam. T&C:Cookies   
* Note: re any 3'rd Party Website links - You are now leaving the regulated site of Uk Life Insurance Quotes.
Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site. 

Uk Life Insurance Quotes 
Broker Registered Office: Clyde Cottages Stafford ST20 0BU

 
www.intergage.co.uk
www.webdesigninhampshire.co.uk