Life cover can repay any current or future financial commitments such asmortgage or leave your family a lump sum giving them a safety net after you are no longer with them.
With a life insurance policy you can also add Critical illness cover.
Critical illness policy will pay a lump sum to you on the diagnosis of illness such as cancer, heart attack or stroke (you can find full list of critical illness covered by each provider in a ‘Key Facts’ document).
Accidental cover will pay a lump sum to you in the event of an accident, injury, accidental death, hospital stays or broken bones. For a nominal additional premium you can also add children to the policy.
Accidental policy form an affordable protection plan, the are 5 levels of cover and you can choose between 1 and 5 units – the more units you buy, the higher your benefits will be.
Whole of life cover has no term and it will remain in force indefinitely, this in turn guarantees payment of a lump sum on your death.
This policy is often used to repay funeral costs, or you could use it as a form of gift to your named beneficiaries or to repay inheritance tax.
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As a general rule the younger you are the more you can save on your policy which means the sooner you take out a life insurance plan, the cheaper it will be.Check Prices