Here you will find the answers to some of the most common questions we are asked about our low cost life insurance cover
To apply for life insurance cover or critical illness cover you must be normally resident in the UK. Age range eligibility varies between insurers.
Cover will last until the expiry of the chosen term, or until you stop paying the premiums, if earlier.
Yes, life insurance and critical illness cover can be effected on a joint life basis. Benefit is normally payable on the first insured event.
90% of life insurance applications do not require the applicant(s) to attend a medical examination. Normally. only a completed application form is required. This includes details of your medical history. You also provide on the application your consent for the insurance company to write to your GP for further information from your medical records, should they require.
Our free online life insurance quotation will normally provide the monthly premium required. premiums can also be paid annually. Some insurers also allow quarterly or half-yearly premiums. Generally, premiums are collected by direct debit.
The benefit is payable in a lump sum to your estate, unless you subject the policy to a Trust, in which case the Trustees will receive the lump sum, outwith your estate.
If you stop paying premiums cover will lapse. However, occasional missed premiums will not lapse cover providing that the missed premium is paid within 30 days.
The lump sum payable in the event of a claim is normally free from income tax and capital gains tax. If the policy is not written in trust, the lump sum is paid into your estate and may be subject to inheritance tax (IHT) if the value of your estate exceeds the IHT threshold (£275,000 as at 6th April 2005). There is no IHT liability between husband and wife. Tax legislation may change in the future.
There is no investment risk associated with these forms of life insurance cover. The risk lies in having insufficient life cover, or stopping paying premiums and leaving your dependants with inadequate financial provision. Over time, inflation may reduce in "real terms" the purchasing power of your chosen level of life cover.
You will have 14 days to change your mind at the start of your policy. After that you can cancel by writing to us, or your insurer, or by simply not paying the premiums.
Yes. we are required by law to keep your information confidential. We comply with the Data Protection Act 1998. We will not pass your details to any third parties without your consent.