For them. For the future. For peace of mind - Life Insurance
Good Life Insurance or Life Cover advice can be life changing: leaving you free to enjoy each day with real peace of mind.
What kind of financial future do you picture for you and your family? Now imagine that picture without you in it should the unexpected happen. How would your family cope?
Life Insurance (also known as life cover) is a great way to help protect your family from the financial worries they could face if you were no longer around. It could help with household bills, childcare costs or paying off outstanding mortgage balances.
Protecting your future finances is an important consideration. However for many, this can be confusing, and everyone's protection needs are unique, so it's important to understand what the right cover is for you.
In a confusing market place, that can be easier said than done. The team here at BPS Personal stake our reputation on giving clear, timely advice, making sure you get the right cover at the right cost.
Call 028 3833 8000 to arrange a meeting with your personal advisor and get a no obligation Life Insurance Cover quote, or email us and we'll get right back to you.
Use the links below to discover more about our Life Cover Insurance service and you will soon find out why so many others are signing up.
What is Life Cover insurance for?
For you, Life Cover provides peace of mind.
For your family, it offers a financial cushion through a difficult time by helping to take away money worries.
You family are free to use the money as they need to, whether on living costs, to pay off the mortgage or any loans, or funeral expenses.
What does Life Cover do?
Life insurance provides a cash lump sum (or regular income - see Family Income Benefit) in the event of your death or if you are diagnosed with a terminal illness.
All Life Cover is essentially a contract between you and the insurance company in which they pay out a cash sum should you die within the term of the cover in return for you paying them regular premiums.
You can also choose to take cover on a level or decreasing basis, with level term assurance maintaining the amount of cover throughout the life of the policy, and decreasing meaning that the cover reduces over time. We can advise which is most suitable and most cost-efficient for you.
How does Life Cover Insurance work?
After assessing your Life Cover needs, we will help you to determine the amount of cover you need.
Using the information you have provided we will work out the most appropriate, cost-efficient policy for you.
To enable the insurer to medically underwrite your application you will need to answer questions on the application form about your medical history and lifestyle.
You'll then pay a monthly premium direct to your insurer.
If you pass way during the term of the insurance, your insurer will pay out a cash lump sum to your beneficiaries, trustees or to your estate. (See Trusts section.)
This is not an investment plan and there is no surrender value.
We can also advise on the benefits of putting your insurance policies into trust - just ask your BPS Personal Advisor.
In the case of Life Insurance, writing your policies into trust can potentially speed up processing of claims, avoid any delay in probate and protect the value of funds from inheritance tax.
How is Life Cover underwritten?
When you decide to take out Life Insurance, you will need to provide information to help medically underwrite your application.
This means you need to provide information about your medical history, current health and lifestyle. So we'll ask you about:
- Your age
- Whether you smoke or have previously smoked
- Health (your current health, your weight, your family medical history)
- Job (some occupations carry a higher risk than others and may mean you have to pay more each month)
- Hobbies (some hobbies, such as diving, pot holing, and flying, carry additional risk and may increase the cost of your cover)
Each element combines to create a cost for the level of cover you need.
So it's important that you provide full and accurate information. Not only will this ensure your premiums are priced accordingly, but that any valid claim is paid fully and quickly.
Do I need Life Cover?
To answer this question, simply imagine what impact your death would have on your family's financial future. If you have children, other dependants or a partner who relies on your financial support, Life Cover is well worth considering.
It can also be very useful upon your death if your home has a mortgage, enabling your surviving family to pay off the mortgage and continue to live in the family home - invaluable in such stressful circumstances.
Life Cover can also take care of funeral expenses or debts that may otherwise pass to a family member.
What are my options?
Ask us - we make getting Life Cover quick and easy because we ask the right questions, research your options and present a suitable, cost-effective solution.
Our experienced protection insurance professionals provide advice you can trust and rely on - it's what we've built our reputation on.
We do not charge fees for our advice and policies can start from under £10 per month.
Call 028 3833 8000 to arrange a meeting with your personal advisor and get a no obligation Life Insurance quote, or email us and we'll get right back to you.