Who is Beagle Street?
Beagle Street was formed by parent company BGL Group in 1992. It’s provided life insurance to 8.9 million customers since then, drawing on its 3,000 employees to facilitate cover.
Peterborough-based Beagle Street is regulated by the Financial Conduct Authority, so its customers are protected by the Financial Services Compensation Scheme.
This means you receive 100% of your life insurance if the insurer isn’t able to continue trading.
The company prides itself on making life insurance simple by providing clear information without unnecessary complexities. The aim is to ensure customers can make informed decisions.
Beagle Street's claims team are trained by the Samaritans, meaning you'll be guided through the claims process by a sympathetic handler.
Some benefits of its cover include an early pay-out clause in the case of a terminal illness diagnosis, meaning you may be able to receive your pay-out while still alive.
Beagle Street has won several industry awards, and was commended in the Life Insurance Provider of the Year category a the Moneyfacts Consumer Awards 2021.
It also picked up a Silver Award at the APG Creative Strategy Awards 2021 for its ‘Seeing the light because of the dark’ campaign.
What types of life insurance does Beagle Street offer?
Beagle Street offers a selection of life insurance policies and types, so the exact levels of cover and benefits may vary. Before buying life insurance, we recommend you check the cover and benefits included.
Beagle Street offers a range of policies, including:
- Life insurance
- Joint life insurance
- Level term life insurance
- Decreasing term life insurance
- Critical illness cover
Life insurance covers one person for a set amount of time, with a fixed benefit amount paid out in the event of the policyholder's death. They can be written in trust, which makes it quicker and easier to make a claim in the event of a death, and could help cut the amount of inheritance tax you're liable to pay. Find out how to write life insurance in trust with our handy guide.
Joint life insurance sees two parties covered under the same policy. There’s one pay-out, which is claimed upon the death of the first policyholder – after which the policy closes. They're usually a cheaper option than taking out two separate life insurance policies, but come with the obvious downside of only entitling you to a single payout.
Level term life insurance sees you pay the same payment each month for the life of the policy. In return, your beneficiaries would receive a set amount upon your death, which has been agreed on up front.
Decreasing term life insurance means the monthly payments remain the same, but the amount covered gradually reduces over a fixed period to nothing. This is because such policies are usually taken out to cover a specific debt, typically a mortgage. As the amount you owe falls, so does your potential pay-out.
Critical illness cover is a life insurance add on, and is designed to pay out if you're diagnosed with a serious illness or suffer a life-changing injury.
What benefits does Beagle Street offer?
Beagle Street's life insurance policies come with a range of benefits too. These can include:
- Optional critical illness cover for children
- Free terminal illness cover
- Accidental death benefit
- Free will writing service
- Free legal advice
Optional critical illness cover for children allows you to add your children to your life insurance policy for a small added cost. If your child is then diagnosed with one of the medical illnesses or conditions listed in the policy document, you receive a payout that can be used to help with caring for them, or for anything else you see fit.
Free terminal illness cover is included with every Beagle Street life insurance policy. It pays out upon diagnosis of a terminal illness where you’ve been given less than 12 months to live, meaning you should be able to access your pay-out while you're still alive.
Accidental death benefit acts as short term cover while your claim is being processed. It ensures that your loved ones are given some form of pay-out while they wait. This can be especially useful if your claim is a tricky one and requires a bit of investigation.
Free will writing service is included with all policies, allowing you to write will through one of Beagle Street's partners at no extra cost. Up to six beneficiaries can be named.
Free legal advice is included with all policies, giving you an hour of legal counsel that can be used for any legal matter - not just end of life queries.
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