FAQs
- What does Life Insurance do?
- Who needs Life Insurance?
- How does it work?
- How much Life Insurance do I need?
- How much life cover do I need?
- How long for?
- How much mortgage cover do I need and for how long?
- What type of cover do I need?
- Can I be covered if I have an existing medical condition?
- Can I be covered if I take part in Dangerous Sports and Hobbies?
- What Activities defined as “dangerous” in terms of life insurance?
- Can I be covered if I have a “high risk” occupation?
- What occupations are considered the most “high risk”?
- What does Life Insurance do?
It pays out a lump sum to the dependants if the holder dies while the policy is in force.
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- Who needs Life Insurance?
Anyone with dependants who rely on them should consider life insurance. The loss of a spouse, for example, can leave survivors with problems paying the mortgage, rent, school fees, or day-to-day expenses. Without life insurance cover, a family may be left with nothing but the very minimal state benefits.
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- How does it work?
You decide on the amount of life insurance cover and the number of years you want to be covered for (the term). The life cover remains constant throughout the term. The plan has no investment content. If you die during the specified term then the amount of life insurance cover is paid out.
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- How much Life Insurance do I need?
The cost of life insurance depends on two factors:
- How much cover you want.
- How long you want it for.
Then your age, sex, occupation, health and smoking habits are taken into account.The other issue affecting premiums is your medical history and current state of health. If you have any concerns, please do call us so we can advise on the most appropriate insurer for your circumstances.
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- How much life cover do I need?
If you're the breadwinner, you will want to keep your family in something like the style to which they have become accustomed. If you're a carer, then you want to provide cash for professionals to take over because you're not around.
Generally speaking, the figure should be enough to produce around two thirds of your earnings or £20,000 for professional care each year.
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- How long for?
Until your dependants are old enough to look after themselves. 20 years is about right for most people, or until your savings can adequately provide for you and your partner - possibly by the time you're 60 years old.
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- How much mortgage cover do I need and for how long?
You need to cover the amount of the outstanding debt, up until the debt is paid off.
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- What type of cover do I need?
Is your mortgage a repayment one? If so, you need a Decreasing Term Assurance policy. Or is it an interest-only mortgage, in which case you need a level term policy.
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- Can I be covered if I have an existing medical condition?
People who have an existing medical condition or 'medical history' are considered a greater life insurance risk and are often subject to some exclusions and higher premiums.
However, we specialise in helping people with pre-existing medical conditions get the life cover they need, quickly and affordably. We do this by having an unrivalled knowledge of which insurance companies and insurance syndicates to talk to and what information they will need.
We don’t guarantee you will get exactly what you want but we do try to ensure that you have a realistic understanding of whether we can help and at what price, within a few hours of speaking to us.
The moment you contact us, we will sensitively ask you the questions that we know the insurers want answers to. We’ll then approach only those companies that we know deal with your condition and match their response to your budget. In most cases, you’ll save months of frustrating leg-work because we did the job right in the first place. We’re specialists with a knowledgeable and focused staff.
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- Can I be covered if I take part in Dangerous Sports and Hobbies?
People who take part in ‘Dangerous Sports and Hobbies’ are considered a greater life insurance risk and are often subject to some exclusions and higher premiums. What’s more, the definitions can differ from one life insurance provider to another. If you do, you can expect your life insurance provider to ask for more detailed information when assessing your life insurance application.
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- What Activities defined as ‘dangerous’ in terms of life insurance?
Activities that are considered dangerous include: Aviation, Climbing/Mountaineering, Diving, Motorsport, Parachuting.
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- Can I be covered if I have a “high risk” occupation?
People who have ‘high risk occupations’ are considered a greater life assurance risk and are often subject to some exclusions and higher premiums. What’s more, the definitions can differ from one life assurance provider to another..
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- What occupations are considered the most high risk?
The most common areas of concern around the following occupations: Working at heights, Oil and gas industry (particularly working offshore) , Armed Forces, Pilots, Fishermen
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Phone for quote: 012 345 678
