Level term life insurance means that the amount of cover you insure yourself for will stay fixed throughout the term of the policy. So whether you claim on day eight or day 8,000, the amount the policy will pay out will be the same, ensuring your family is protected financially should the worst happen.
On the other end of the scale, with decreasing term insurance, the amount that would be paid out in the event of a claim decreases over the life of the policy. So you might typically take out a policy to cover a repayment mortgage, which becomes cheaper to pay off over time.
What's next? Think about how many years you want to be covered for and how much cover you need. Are there outstanding debts you'll need to cover? Or will your family need money to maintain their standard of living when you're not around?. Once you've decided, use the 'GET A QUOTE ONLINE' button above to get started. Then simply enter your details to start comparing life insurance quotes from leading trusted providers.
- Details of anyone else who'll be on the policy, such as name, DOB, whether they're a smoker
- How much you want to be insured for; eg £100,000 (use our calculator if you're unsure)
- The type of policy you want; eg level term or decreasing term (mortgage life insurance)
- Whether you want a single or joint policy
- How long you want the policy to run for; how long your mortgage is, or a set amount of time
- If all your assets added together come to more than £325,000 for things like your home, car, investments etc (£650,000 if you're married or in a civil partnership), it's possible that inheritance tax may need to be paid on your estate.
- If you don't want the proceeds a life insurance claim to be included in the valuation of your estate, you may wish to consider placing your policy in trust.
- Policies in trust aren't included in the total value of your estate. So placing your policy in trust means that any payout from your life insurance policy isn't taken into consideration with the rest of your assets.
- This would also mean that your beneficiaries (whoever you name to receive the money), shouldn't have to wait as long to be able to receive payment. This is because it won't have to go through the probate process along with your other assets.
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- Get a tailored quote and an indication of how your application will be treated
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- If you'd rather talk to someone, you can call our UK-based life insurance specialists on 0800 652 9754