Frequently Asked Questions

Below are a list of questions that we are often asked relating to life insurance. If you have any questions that are not answered here, please give us a call and our life insurance experts will be more than willing to help you.

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Q. What is life insurance?
A. Life insurance, along with most other insurance policies is one that you take out to cover yourself if something bad was to happen. In the case of life insurance, you are covered against death. The insurance is there to protect your family in the event of your death to give them peace of mind and financial security.

Q. How long before I can claim on the policy?
A. With a term life insurance policy you will be covered, and therefore able to make a claim, from the start date of your policy.

Q. Will I get any money back at the end?
A. You will not receive any money back at the end of the policy because it is not an investment product.

Q. How do I get my money to the right place should I pass away?
A. The natural route of life insurance would be into your estate and then onto your family from there. if you wish to save time and money on inheritance tax, you can put your policy in trust, to cut out the probate process.

Q. Are my children covered on my policy?
A. If your policy is a standard life insurance plan then no, they will not be covered. However if you have a critical illness policy, your children will be covered should they suffer from a critical illness.

Q. What are the age ranges I can be covered from and to with term assurance?
A. Though the cover ranges differ from insurer to insurer, the youngest age you can start a policy from is the age of 16. Most companies will only allow a maximum of a 40 year term, though some specialise and will allow you to insure yourself up until the ripe old age of 90.

Q. How much does Life insurance cost?
A. All Life insurance companies in the UK will have a minimum premium for all of their insurance products. For many companies this is Between 5 and 10 pounds per month. Though these are the minimum premiums, you may well end up paying a lot more per month for your cover depending on your age, gender, smoking status and if you have any pre-existing medical conditions.

Q. What is a "Survival Period"?
A. A survival period is an amount of time that you are not able to claim on your policy. Common in Critical Illness policies, Over 50's plans and Whole of life policies.

Q. What is the difference between Insurance and Assurance?
A. Assurance is for something that is certain to happen, e.g. a whole of life policy. Insurance is where there is only a risk of it happening... and death is assured. The example of this would be a Term Insurance Policy.