Life Insurance Frequently Asked Questions
All the FAQs have been answered by our highley trained expert advisers to help make the process and products even simpler.
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Life Insurance frequently asked questions
Who gets the payout from my Life Insurance policy if my children are young when I die?
Setting up a Life Insurance policy is designed to protect loved ones and writing the policy into trust goes a step further in achieving this goal. This enables you to select who would hold the money for your children until they reach a certain age should you die. This will often be a partner, sibling or close friend as they will have a legal responsibility... Read More
What happens if I out-live my Term Life Insurance policy?
A Term Life Insurance policy does not provide a cash sum if you are still alive at the end of the term. Premiums tend to be lower for such policies as the majority will out-live their policy. Term Life Insurance policies are generally taken out by people who do not want to leave any financial burden on their family such as mortgage payments... Read More
How can I purchase Life Insurance?
It is possible to buy life insurance direct from the insurer or through a broker, intermediary or financial adviser. We recommend buying from an intermediary such as Usay Compare, to allow you to compare a wide selection of the best companies and policies, to ensure you have the best policy to suit you.
How much life insurance cover do I need?
Cover can vary depending on the lump sum payout amount you would like your beneficiary to receive. Your requirements can be calculated by the costs you need to cover and the savings you have. It could also be calculated to cover a significant debt such as a mortgage or long-term loan.
Who needs life insurance?
Life insurance is not a legal requirement but if you have anyone who relies on you financially, or you have a debt, such as a mortgage, it is certainly something to consider.
Can I add Critical Illness Cover?
Yes our advisers can explain how you can add a Critical Illness policy to your Life Insurance. This can be a cost effective way of receiving the most comprehensive cover. If you were to suffer a critical illness you would then receive a lump sum pay out as well.
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