life assurance UK

Use our on-line facilities to obtain your UK life assurance quote and to buy your UK life assurance on-line.

You will usually get a better deal by talking to our brokers than you will from an on-line service. For expert assistance or a life assurance UK quote call 01225 428444, click on the call me button below or click here to access the enquiry centre.

Life Assurance UK
Life assurance in its simplest form is purely protection for your family in the event of your death. Life assurance is now also popular as a packaged UK investment product. It can be structured to suit your particular requirements. More than one person can be covered under a "Joint Life" UK assurance policy which will normally pay out upon first death.

Term Life Assurance UK
The cheapest form of life assurance in the UK is Term Assurance. In return for a monthly premium, the UK life assurance company will cover you for a specified period and pays a specified amount if you die within this period. No amount is paid out if you survive to the end of the term. Term assurance simply protects your dependants in case you die early.

It can be used, for example, to cover particular periods of high expense (e.g. when the children are young) and is often used to ensure payment of known expenses such as a mortgage (Mortgage Payment Protection).

The term of a life assurance contract written in the UK to cover a mortgage will coincide with the term of the mortgage and the pay-out with the expected outstanding mortgage balance. For an interest only mortgage, Level Term UK Life Assurance will be required. Under a Level Term UK Life Assurance contract the amount insured stays at the same level throughout the term in order to match the full amount of the mortgage that will be outstanding at all times throughout the mortgage period. A repayment mortgage will usually require Decreasing Term UK Life Assurance. In this case the amount insured reduces to match the mortgage balance which also reduces over the life of the mortgage.

Should you die, your family unit will lose the income you currently earn and your future earning potential. Term assurance can provide a solution to this. With Family Income Benefit Life Assurance, a regular income is paid out upon your death for the rest of the agreed term. The income can be at a constant level and can increase, for example to cater for the expected UK inflation rate.

Should you die, your family unit will lose the income you currently earn and your future earning potential. Term assurance can provide a solution to this. With Family Income Benefit Life Assurance, a regular income is paid out upon your death for the rest of the agreed term. The income can be at a constant level and can increase, for example to cater for the expected UK inflation rate.

You can purchase a Convertible Life Assurance policy in the UK. This carries an option to convert into a Whole Life Policy at a specific period without another medical check up at which point the monthly premium will increase to the level of the Whole Life Policy. A Convertible Policy is designed to provide cheap life assurance in the early years allowing you to convert as your earnings increase.

A Critical Illness Life Assurance policy in the UK provides funds in the event of a critical illness which renders work impossible. A Critical Illness policy usually pays out against specified illnesses after the policy holder has survived a certain period of time from any one of the specified illnesses covered in the policy. Often this is 28 days or 1 month depending on the terms and conditions.

Whole Life Assurance UK Whole Life assurance covers you for the whole of your life. Premiums are higher as a payment will definitely be made. The earlier in life that you take out the policy, the lower the premiums. Whole Life UK assurance policies may be structured to be "paid up" by a certain age after which cover will continue without the need for further payment.

For a personalised whole of life insurance quotation, please click here.

Life Assurance - UK Investments
Life assurance has also been a popular UK investment product over the last 20 years or so. These are usually whole of life assurance policies. They can have significant or minimal life assurance cover. They can be structured as regular savings plans or as lump sum investment vehicles designed for the particular investment purpose ("Income Bonds/Growth Bond" etc.). Typically, the premiums will be used to purchase a small amount of insurance cover with the majority being invested by the life assurance company into UK and overseas investments in accordance with predefined investment objectives. As with all investments, the returns will depend upon the success of the life assurance company's investment strategy and may be greater or lesser than the original sum invested.

With With-Profits UK Life Assurance annual bonuses are added to your policy throughout the life of the policy and a "terminal bonus" is added at the end of the policy. Upon your death, the amount assured (i.e. "minimum sum assured") plus the bonuses allocated over the period, is paid out. These bonuses relate to the investment return made by the UK life assurance company and since the company's profit is not guaranteed, the bonuses cannot be guaranteed. However, bonuses can not be taken away once given and have tended to be allocated to "smooth out" fluctuations in profit performance over a period. In theory, this should lead to a more stable investment than many that are based upon the equity markets giving slightly lower returns in good times and better downside protection in bad times.

Unit-Linked UK Life Assurance policies have only a minimum amount of insurance cover included. They offer a range of funds into which the premium is invested. There is no performance guarantee the return being entirely dependent upon the performance of the investment funds. Values can fall as well as rise.

Important Note: Not all of the above UK life insurance products/services are regulated by The Financial Services Authority.

Just like with other forms of insurance (e g car and home), you must keep up your premium instalments. Failure to do so will result in the policy becoming void. If you cancel the policy or stop payments no sum is payable back to you.

Not all of these products/services are regulated by The Financial Services Authority.

Just like with other forms of insurance (e g car and home), you must keep up your premium instalments. Failure to do so will result in the policy becoming void. If you cancel the policy or stop payments no sum is payable back to you.