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Life Insurance Cover

Despite the delicate subject of death, there is a real need to seriously think about the future. It’s especially important if you have any family who are dependent on you, there is a risk of terminal illness, or you participate in ‘dangerous’ sports.

Take a minute to think. In the event that you are no longer around, would your family be able to support themselves financially? The truth is, no one really knows what is waiting round the corner for them. No one can predict events that could potentially jeopardise you and your family’s lifestyle, long term plans and financial stability.

Most of us have enough bills to pay and enough money worries on a daily basis, even before things go wrong. Having a Life Insurance plan in place offers a tax free sum of money if you die, to relieve the financial burden on your family.

Like many things in today’s busy world, there is a lot to think about, should you decide that you do need some sort of Life Insurance. What sort of cover do you need? Who do you need the insurance to cover? Are there any personal factors that could affect the terms of your cover?

As daunting as it is, having a Life Insurance plan in place is good financial planning for the future and a good way to expect the unexpected.

Here at Active Brokers we strive to help you find the perfect policy that does not compromise on quality for price. We’ve answered the questions our customers ask the most to help you understand what Life Insurance really is. If you’d like to talk to someone directly then don’t hesitate to call us, we can help you find a Life Insurance policy from the top insurers on the UK market, including deals and discounts that are exclusive to Active Brokers that you won’t be able to find elsewhere.

What is Life Insurance?

The purpose of Life Insurance is to provide loved ones with peace of mind, should anything happen to you. It also provides peace of mind to you, that your family will be cared for financially and will not be struggling to make ends’ meet, if the worst did happen.

Life Insurance is a policy that pays out a tax free sum of money to ease your family’s financial burden should you pass away. This cares for your family and helps to ease the grief in their lives when you’re no longer there to support them.

How does Life Insurance work?

The way Life Insurance works is through monthly payments called premiums which are the cost of taking out Life Insurance. By paying these premiums you can be sure that should you ever pass away, a sum of money is left to your family and loved ones. The amount of money you wish to leave behind will depend on how many people will benefit from it and how much you can afford to pay in premiums.

The amount of money you can choose to leave behind for those closest to you can vary anywhere from the cost of a funeral, 1x to 10x your annual salary or purely enough money to cover your mortgage to pay it off for your family.

Who needs Life Insurance?

You may think that it’s only older people, generally with families, that get Life Insurance. To an extent, you’re right. But age is not the reason for taking out Life Insurance.

People take out Life Insurance because they have family and friends relying on them; if they passed away then those people close to them would be left financially vulnerable. Hence why it is vital that if you have children, or a partner, or family members that rely on you to support them, you should take out Life Insurance so that you can leave one last gift; support when they need it most.

Of course, there are other reasons for taking out Life Insurance even when you don’t have a family or partner relying on you. Many people may find their parents rely heavily on their care and support, perhaps as they finance any special care they might need, especially with the life expectancy rising this will be an increasingly common occurrence.

What different types of Life Insurance are there?

There are several types of Life Insurance available, and by talking to Active Brokers’ expert advisers you can be sure that you’ll find the right one to suit your distinct needs. Click on the individual links to read the full page on each type of Insurance.

You may discover that you have Life Insurance through your employer; this is called death-in-service benefit which generally pays a sum of money four times your usual annual salary if you die while still working. This can be valuable, but may not cover everything you need it to cover, and it will not last beyond your employment, whereas other types of Life Insurance may be more suitable if you won’t be in employment for a prolonged period of time.

Whole of Life Assurance

A Whole of Life policy is just that – insurance cover for the rest of your life. Whole of Life Insurance, or as it should be known, Whole of Life Assurance, ensures that a sum of money will be paid out in the event of your death. As Whole of Life Assurance is 100% guaranteed to pay out, the premiums are generally higher. But many people prefer this type of Life Insurance because it takes away all the hassle, stress and wasted time spent renewing Life Insurance and worrying about any periods where you are not covered by a Life Insurance policy.

Term Insurance

You may find that Term Insurance is more suited to your situation, where you only pay for insurance for a set period of time, for example 2 years, and a sum of money is paid out on the event of your death. This may be beneficial if you are on a budget, or you can only guarantee that you will be able to pay the premiums for that specific period of time. Other people may choose to take out Term Life Insurance for 25 years from when they have their first child, so that should anything happen to the parent the child will be covered, but the insurance won’t continue after the child has become financially independent.

Decreasing and Level Term Insurance

Decreasing Term Insurance means that the pay-out gradually gets smaller over the period of the term. This can be useful if you intend the money paid out to cover any debts you’ve left behind once you’re gone. The idea being that over the period of time you’ll gradually reduce your debts meaning the end pay-out will not need to be as large should you die.

Level Term Insurance means that the amount of money paid out, if you should pass away, will remain the same amount no matter when in the time period you die.

Joint and Single Life Insurance Policies

To take out a joint policy means that you’ll share your policy with another person, most likely your partner. This would mean that you’d both be on the same plan with the same terms and conditions, whereas on single policies this would be entirely separate; a claim made on one of the policies would have no impact on the other policy if they were separate. There are some issues that can arise from this type of policy, so it’s important to go through the plan with one of our expert advisers before you commit to this policy with another person.

Over 50s Life Insurance

The idea behind a special Life Insurance for over 50s is that anyone over the age of 50 will be accepted for Life Insurance no matter the medical conditions, as you’ll never have to go through a medical report. There is no end date to this policy, but the drawback of this is that you could be paying a lot of premiums for a very long time, meaning the claim that pays out at the end of the policy may be less than the total cost of all the premiums.

Family Benefit Plans

A family benefit plan is very similar to Term Insurance. But, instead of a sum of money being paid out to your family or loved ones in the event of your death, regular payments are made instead. This means that you can be sure the money will last for a prolonged period of time, as you can specify when you want the payments to begin and end. This will be useful as it means you can be sure that the money won’t be spent unwisely or thrown away all at once.

Mortgage Life Insurance

Mortgage Life Insurance means that you can protect your mortgage should you pass away. In the event of your death the mortgage debt would be paid off and the family home would be retained for anyone that you want to leave it behind for. This would be beneficial if you’re family are financially dependent to the degree that they can support themselves with minimal help, by leaving them a house with no mortgage you’ll be sure that they’ll have a safe place to reside in.


‘Add ons’ are separate insurance policies that you may want to take out when you’re investing in Life Insurance.

The process of deeply considering the future and what would happen to your family if you passed away often brings up more concerns and hypothetical scenarios that you may want to plan for should they occur in the future. Your health and ability to work should be insured to make sure that you’ll be safe should you be unable to bring in an income.

Critical Illness Cover

This type of cover will protect yourself and your family should you fall critically ill and are no longer able to work. The insurer will pay out a sum of money to help you support yourself and your family financially, or it can be used to help aid the costs of any medication and treatments for the illness. You need to be careful when you decide to take out this policy that you fully understand what qualifies as a critical illness with the insurer to stop yourself getting caught out. We strongly recommend you take out this cover with your Life Insurance, as often when a person falls critically ill; this will affect your family financially as much as your passing away would.

Terminal Illness Cover

Terminal Illness Cover is very similar to critical illness cover except it is paid out in the event of the insured person being diagnosed with a terminal illness, meaning they only have a set amount of time to live. The money is paid out when the insured person is still alive and seeking financial support for medical treatments or to support the sufferer’s family, rather than paying out after death as a Life Insurance policy would.

Benefits from the state are limited and may not cover you if you lose your job or can no longer bring in enough income with your illness. This is why Terminal Illness is often taken out with Life Insurance; it will take care of you in your last days to ease your passing with financial security.

Income Protection

Income protection Insurance is the safety net that will support you should you find yourself unable to work. You may be thinking that the government’s sick pay will be enough. If you can live off £85.85 a week then you’ll be fine. But for the majority of us, this just isn’t enough to see us through the week comfortably. Through Income Insurance you will receive regular monthly income to compensate for the earnings lost. This is a popular policy to add to your Life Insurance as it can cover you specifically when you need support, as well as your family if they rely on you for most of the family’s income.

How much will Life Insurance cost?

Life Insurance costs will vary dramatically depending on a huge number of factors as outlined below.

But generally the most expensive type of Life Insurance is Whole of Life Assurance, followed by Over 50s, Level Term Insurance, Decreasing Term Insurance and then Family Benefit Plans coming in as generally the cheapest option available. The higher the chances of the insurer having to pay out a claim, the higher the cost of the premiums, so therefore Whole of Life Assurance has the highest premiums as the policy will definitely pay out at some point.

What will affect the cost of Life Insurance?

The exact cost of your Life Insurance will depend on a number of factors and thus is tailored around your specific circumstances and needs.

Your age, weight and lifestyle are just some of the things that can affect the exact price of the premiums you’ll be paying, but other things such as any medical conditions and dangerous hobbies will also affect the price the insurer will ask for. Generally if you smoke or lead an unhealthy lifestyle the prices will be higher and there is a higher chance that you will pass away during the period you have Life Insurance Cover for.

To cut down on the cost of your Life Insurance you should quit smoking, eat a healthy balanced diet, exercise regularly and don’t take any unnecessary risks in the future.

Can I get Life Insurance with a medical illness?

Yes, you can find Life Insurance when you have a medical illness.

The costs will generally be higher but by using Active Brokers you can be sure that we will handle all of the application process for you, meaning you can relax knowing that if there is a Life Insurance policy out there for you, then our professionals will find it.

Some of the medical conditions we can find Life Insurance Cover for:

We may be able to find you cover for many other medical conditions, give us a call so we can discuss with you what we can offer. Of course, it is wiser to take out Life Insurance, or Critical Illness Cover, before any of these diseases start to develop, meaning that you will be paying a lower premium than the price of premiums after you’ve been diagnosed with a medical condition.

Are there any Life Insurance exclusions?

Most insurers will include some sort of exclusion, so it’s vitally important that you check the small print to fully understand the policy you are investing it. Some insurers will not pay out any money at all if your death results from misuse of alcohol or drugs. Suicide is also excluded on many insurers policies, meaning the insurance cannot be claimed on should you died by committing suicide. When you apply for a policy through Active Brokers we will explain all the fine details to you, making sure you are 100% confident in the insurer you buy your Life Insurance policy from.

Active Brokers – The Best Way to Find Life Insurance

By using Active Brokers to find your Life Insurance you can be sure that you’ll find the right policy for you. Our professional advisers have over 15 years of experience and can guide you through every step of the application policy, explaining in detail all of your options clearly to you. We handle your details with sensitivity and care, and aim for 100% customer satisfaction when talking you through the process. Click below to get a quote on a Life Insurance policy.

How do I apply for Life Insurance?

You should stick to the truth when applying for a quote, if you don’t tell our advisers about any past or current medical conditions, lie about your weight or hide any dangerous hobbies, then your insurer can refuse to pay out when you go to claim on your Life Insurance because it will be invalidated. This would mean denying you support when you desperately need it, leaving you vulnerable and without a safety net.

To apply for a Life Insurance quote you need only to click below to talk to our expert advisers who have over 15 years of experience assisting clients find policies tailored to their specific needs.

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