Life insurance is a great way of ensuring that your loved ones are taken care of financially if you were no longer around. It is a cost-effective way of offering your family protection while providing you peace of mind.
If you pass away within the policy term, your family/dependents will benefit from a lump sum pay out from the insurer, as specified by your cover.
Yes. We do advise you as to which policy you should take out, as this is a decision that requires a deep understanding of your individual circumstances. We are what is known as an ‘advised‘ broker.
What we do, is use our in-depth knowledge of the life insurance industry and the personal information you provide, to find you the perfect policy, at the very best price. We can also provide plenty of information about your chosen policy, explaining any terminology or jargon you do not understand. Allowing us to offer you the best policy to your needs and requirements.
Yes. You are allowed as many life insurance policies as you wish, and are welcome to take out additional cover even if your employer is already providing some protection
However, insurers may ask questions if you wish to insure yourself for a large sum, (in excess of £300,000). If you wish to have a high level of insurance, you may need to prove a need for this cover.
No. Simply Covered will search the market on your behalf, comparing multiple quotes from some of the UK’s biggest names in life insurance, to find you the very best price, saving you time and money.
No. We never levy any fees or admin charges on our customers. We get paid by the insurers on a commission basis when you sign up for a life insurance policy.
No. Most insurance providers will allow you to cancel your policy at any point without any fines or fees. However, you will not get any money back if you decide to do this. Obviously, your life cover will cease after you have cancelled
No. Life insurance will only pay out in the event of your death, (unless you have critical or terminal illness elements on your policy). So if you do not die within the agreed term of the policy, you will not get anything back. However, in some cases, you can extend your policy for a further period of time.
Sometimes. On occasions, mortgage lenders will stipulate that you have to take out a life insurance policy in order to obtain your mortgage, to mitigate their risk.
Either way, we believe having life insurance to protect your family home is a very good idea
Yes. To ensure your policy does not devalue, as living costs rise, you can opt to apply indexation to your policy each year.
This means that both your pay out and your premiums will increase in line with inflation, which is usually determined by the Retail Price Index (RPI)
The cost of your premium will depend on a number of key factors, including your age, medical history, lifestyle, weight/height (BMI), occupation and hobbies, as well as whether you smoke.
The type of policy, the length of the term and level of cover you choose will also affect the cost of your premium
Unfortunately, if you are not a UK resident, you are not eligible for Life Insurance from UK life insurance providers.
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The guidance and/or information contained within this website is subject to United Kingdom (UK) regulatory regime and is therefore restricted to clients based in the UK. Simply Covered Limited, company number, 15247145, is registered with the Data Protection Act 1998 Registration No: ZB619632 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number: 1013170 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number: 786245 and registered with the Data Protection Act 1988 Registration No: ZA178200
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