Life Insurance Quotes

There is a wide range of life insurance policies with varying benefits and varying premiums. Added to this, while one provider may offer you an expensive quote based on your circumstances, another provider may offer you a much cheaper quote for the same set of circumstances. This is because different insurance providers will analyse the specifics of your situation differently and it makes it even more important to shop around for the best quote available.

If you are currently searching for the best life insurance quote, then simply fill in our form, provide us with all the relevant information surrounding your medical history and lifestyle, and we’ll have one of our insurance specialists evaluate the entire market to find the optimal life insurance package for your circumstances.

The following page will outline which personal factors will impact the costs of the quotes you are given, as well as guidance over which information you will need to prepare for us so that we can identify the best policy for your situation.

CTA Form2

Factors which will affect the price of your quote

There are a number of personal factors which will affect the overall cost of the quotes you are given. It is important that you take these into consideration and are aware of how they will impact the price of your life insurance premiums. Generally, most life insurance firms will look at:

 

Age – Usually, the younger you are, the lower your life insurance premiums will be because you will be regarded as less likely to pass away anytime soon. As such, experts have recommended that prospective policyholders apply for life insurance when they are younger, in order to receive more competitive premium prices.

Gender – Statistics have suggested the premiums tend to be marginally higher for men than for women, which will most likely be due to the fact that women live longer than men on average.

Occupation – If you work in a dangerous job, such as a security guard or a miner, the price you are quoted for your life insurance premiums will usually be a lot higher than those with an office job. It is important to remember that you will always have to pay more for your life insurance whilst you are working in a job regarded as high risk.

Medical history – The disclosures you provide to an insurance company aboutyour personal and family medical history will have a huge influence on the quotes you are given. If you have a pre-existing condition or a disease that you have consistently battled with throughout your life, then this might contribute towards a steep rise in your quote. Similarly, if your family has a history of suffering from the same sickness, then your premiums will likely be higher. It is essential you provide accurate medical information about yourself; otherwise you are putting your dependents at risk of not being paid out if your insurer finds out you lied during your application.

Lifestyle – You will always be asked whether you are a smoker or not, and your premiums will inevitably be higher if you are. You might also be asked about your weekly alcohol consumption, though this will likely be done when you speak to an adviser on the phone, rather than during your initial form fill.

Hobbies – If you frequently participate in dangerous activities, such as rock climbing or sky diving, then you might be subjected to higher quotes from certain insurance providers. You will usually be asked about this information when you speak on the phone to an insurance adviser, and it is important that you are truthful in order to avoid potential complications later on down the line.

Using our form

In order to find the most beneficial and competitive life insurance policy for your situation, we will need to undertake a meticulous and comprehensive assessment of the market and identify the deal which is most consistent with what you are seeking to attain from your life insurance package. In order to do this, we will need you to convey how much you wish to be covered for, how long you want it for, the type of insurance you want and all relevant information about your lifestyle and your medical history.

Logos Page Break 2 copy

The Best Providers

Your advisor will compare quotes from the leading life insurance providers in order to get you the lowest quote possible, while still ensuring that your life policy meets all of your requirements.

Types of life insurance

The first piece of vital information you will need to provide us with is the type of insurance you want us to search the market for. You will be able to choose one of the following:

Whole-Of-Life Insurance

This type of insurance will provide you with cover irrespective of when you die, though the premiums are often more expensive to reflect this.

Critical Illness Insurance

Critical illness cover will ensure that your dependents are paid out a lump sum of money in the event that you are diagnosed with a life-threatening illness included within your policy. This type of cover can be acquired on top of your life insurance, or separately.

Mortgage Life Assurance

This type of insurance will cover your mortgage payments in the event that you pass away. You can either obtain increasing-term mortgage insurance, level term or decreasing term.

Term Based Insurance

This type of insurance is often the cheapest and will cover you for a fixed period of time. If you die during the term of your policy, then your dependents will be paid out.

Over 50's life Insurance

This type of policy will be more expensive as the older you are, the more costly your premiums will be. However, many of these deals run for a considerable length of time, and can be renewed accordingly in the future so your deal accurately reflects your health risk.

Calculating how much you need to be covered for

In order to determine how much you need to cover yourself for, you will need to undertake a comprehensive assessment of your current situation, outstanding amount of debt and monthly expenses. We recommend you consider the following:

How much outstanding debt do you currently owe? You should add up the total of your existing secured and unsecured debt, including the amount you owe through your mortgage and credit cards. This will give you an indication how much debt your family will need to address in the event that you pass away.

How much do you spend each month sustaining your family’s day-to-day living? You will need to add up how much your household spends on utility bills, healthcare, education costs, food, drink and travel. After you have calculated this figure, you will have a clear indication of the amount of money your family will require each month to deal with their cost-of-living.

How much will your funeral cost? Generally, we recommend that you cover yourself in this area for around £5,000.

How many dependents have you got, and if you have children, how old are they? Generally, you should factor in the future costs that your partner would need to pay for your children, such as to send them to university or to pay for childcare. You should total up all these costs in order to get a final figure and cover yourself for this amount accordingly.

Have you got any existing cover, either through a workplace scheme or your mortgage deal? If you do, then you should subtract this value from the total of how much you owe, how much your family needs each month, your funeral costs and any future expenses your partner might need to pay, in order to get a final figure for how much you need to be covered for.

The Best Insurance Policy For Your Situation

It’s important to compare quotes from the leading providers on the market in order to find an insurance policy which meets your personal requirements and which is in-line with your financial means.

Choosing the right insurance term for your policy

Deciding the length of the term you want to attach to your policy is equally as important as the amount you choose to be covered for, and you will need to assess your personal situation carefully before coming to your final decision about this.

The first thing to consider is how long your dependents would need financial assistance for if you were to pass away today. If you have younger children, then you might want to choose an insurance term which spans the length of time you believe it will take for them to fly the nest. Alternatively, you could choose an insurance term which runs until your retirement age; you can then proceed without insurance and leave the money from your pension to your dependents in the event that you pass away.

If you are a homeowner, then you might want to estimate how long you believe it will take you to pay off your mortgage, and then match your insurance term in accordance with this to ensure your dependents receive enough cover to pay for their housing costs.

Alternatively, you could decide to use a whole-of-life policy and pay a bit more on your premiums. This type of insurance is best suited to individuals who own a number of assets and wish to save their dependents from inheritance tax by using their policy to set up a trust fund.

Be honest about your personal life and medical history

Our form will ask you about your smoking status, and it is imperative that you answer truthfully. This is because your dependents would struggle to receive a payout if we found out that you had intentionally withheld information about your lifestyle in order to obtain a more competitive quote.

It is also important that you are honest about your medical history when we enquire about whether you have any existing or recurring health problems. This extends to any health problems that your family has a history of, and you will put yourself at risk if you omit any details surrounding this area.

How long will it take for you to set up my life insurance

Filling in our form should only take a few minutes, after which one of our advisers will then review your information carefully, and will begin the search for your ideal insurance policy. You should expect a return phone call from us during the same day as you filled in our form, and your presiding adviser will ask you to clarify a few pieces of personal information before undertaking the final search for your optimum life insurance.

After this, we will present you with a number of insurance deals which will match your criteria and represent the best value for money on the market. Once you have decided which one you desire, we will facilitate your acquisition of the policy and will ensure that it is underwritten within days of your initial point of contact.

 

Remember, if you are unhappy with the life insurance deal you have acquired, you can =always cancel your policy within 30 days of purchasing it. This should result in the policy being terminated and a full refund being paid to you for any costs you might have paid on premiums during this time.