Family Life Insurance

 

Family Life Insurance: Protecting What Matters Most

When it comes to insurance, people often prioritize safeguarding their physical assets like cars, homes, and belongings. However, what often goes overlooked is the most valuable asset of all – your family.

The Importance of Life Insurance

Life insurance can provide crucial financial support when losing a loved one. Whether you’re the primary breadwinner, have a mortgage to consider, or want to provide extra assistance to your family, numerous affordable life insurance policies are available.

How Does Family Protection Life Insurance Work?

Family protection life insurance is a straightforward type of policy that pays out a lump sum if you or another person named on the policy passes away while it is active.

You choose the amount you wish to leave behind and the duration of coverage. Once you find an insurer and premium that suits you, setting a start date and arranging a direct debit is all it takes to ensure your protection.

Additionally, terminal illness insurance is typically included at no extra cost. This benefit pays out if you are diagnosed with a terminal illness and given less than a year to live during the policy term. While it may be an uncomfortable thought, this cash can provide significant support for medical needs or precious time with loved ones.

How Much Coverage Should I Have?

Family protection life insurance, also known as level-term life insurance, provides a fixed sum assured that remains constant over time. This means you always know the exact amount your family will receive in the event of a claim.

The coverage amount is flexible and entirely up to you. It can start from a few thousand pounds to cover funeral expenses or reach millions or tens of millions for inheritance tax planning.

Remember that the coverage amount (sum assured) can influence your monthly premium, so it’s wise to explore different options until you find an amount that fits your budget.

What is Not Covered by Family Protection Life Insurance?

Family protection life insurance covers all types of death from the beginning unless specifically excluded due to pre-existing medical conditions disclosed during the application.

While most life insurance applicants are accepted on “standard terms” without exclusions or risk ratings, there may be a small percentage of policyholders with temporary or permanent exclusions due to acute illnesses.

Any exclusions will be clearly outlined in your personal illustration before the policy commences, ensuring transparency.

We’re Here to Support You

Contact us to discuss the various options available for your specific contractor circumstances. Reach out via email, our contact form, or call us today to speak with one of our experts at 0203 827 8560.

 

Why Choose Family Protection Life Insurance?

Family protection life insurance offers several key benefits:

  • Financial Security: It provides your loved ones with a lump sum payment, helping them cover immediate expenses, outstanding debts, and future financial needs.
  • Customizable: You have control over the coverage amount and duration, allowing you to tailor the policy to your family’s unique requirements.
  • Terminal Illness Cover: Terminal illness insurance provides additional support during challenging times, ensuring you can access funds when you need them most.
  • Peace of Mind: Knowing that your family will have financial protection in place can provide peace of mind and reduce stress during difficult circumstances.

Let Us Assist You

If you are considering family protection life insurance or have questions about the best policy for your contractor status, please don’t hesitate to reach out to our dedicated team. We specialize in assisting contractors like you in securing the financial future of your loved ones.

Whether you prefer to contact us via email, our contact form, or by calling at 0203 827 8560, our experts are here to provide guidance and support at every step of the process.

Don’t delay in protecting what matters most – your family’s well-being. Contact us today and take the first step towards securing their future.