What is life insurance?
Life insurance (sometimes referred to as ‘life assurance’) pays your dependents a cash lump sum, or sometimes a regular payment, if you die during the policy term. It can also pay out if you become critically or terminally ill.
It’s designed to provide you (the policyholder) with the reassurance and peace of mind that should the worst happen, your dependents would be financially protected.
The monetary amount paid out to your beneficiaries depends on the level of cover purchased. You decide how it is paid out and whether the sum assured needs to cover specific payments, such as paying off the mortgage.
Life insurance – it’s personal
Perhaps you’re thinking about taking out life insurance for the first time after the death of a relative, the onset of illness or a landmark birthday – anything that’s made you feel just a little bit more mortal.
All kinds of incidents reminds us that the world can be a dangerous place, that life is precious and should be protected.
But finding the right life insurance cover can be daunting. We hear many stories from people who find the whole experience so overwhelming that they don’t see things through and their families suffer for it later.
Our aim is to make your life insurance experience as easy, affordable and hassle-free as possible.
Benefits of life insurance
Life insurance helps ensure that the people closest to you are taken care of after you’re gone. It helps reassure all of you that, should the worst happen, everything’s going to be okay.
The people you’ve asked for the money to be paid out to can use it as they wish. Common uses include paying off a mortgage, meeting funeral costs and day-to-day living expenses.
If a feeling of vulnerability makes you consider life insurance, taking it out brings peace of mind and a sense of security for both you, the policyholder, and your family.
We believe making long-term provisions for your partner, children and loved ones is a heroic act – the act of someone who truly cares about those they might leave behind.
Important things to consider when choosing your life insurance policy:
- Term – how long do you want to be covered for?
- Amount – how much do you want to be covered for?
- Cover – under what circumstances do you want the insurance to pay out?
- Payment – how would you like it to be paid to those you leave behind?
The above are also some of the key factors that influence the price you pay for your life cover, (known as your premium).
Use our Reassured website to learn more about the different types of life insurance available, including mortgage protection, family protection, over 50s, critical illness and impaired risk.
If you feel you require more help finding the perfect life insurance policy, call our friendly Reassured team on 0808 168 2025, or Start Your Quote online today – it only takes 2 minutes.