Level Term Life Insurance - we're here to Help

It’s essential that you get the right kind of cover for your needs – that’s why we pass your details on to ClickLife a specialist life insurance broker who will call you and discuss your individual circumstances. To submit your details and be telephoned by ClickLife, use the quick quotation request form.

5 reasons to get Life Insurance

1. If you die, your family will no longer receive the income that you used to support the family home. Life Insurance will ensure that your family are well looked after by providing a lump sum.

2. Mortgages, car loans, medical bills, and credit card debts are often left unpaid when someone dies, and these obligations must be paid from the assets you leave behind. This could have a serious effect on the resources that your family needs, that’s why Life Insurance is a good idea. A lump sum can leave your other assets intact for your family to use.

3. Life Insurance provides liquidity to your estate so that when you die, your liquid assets will cover all the debts that you leave behind, plus all the expenses that arise because of your death (i.e. funeral expenses). Without Life Insurance your liquid assets (i.e. home, car) may have to be sold in order to meet these financial obligations. This could cause your family a considerable financial loss if your assets have to be sold cheaply in order to meet the financial obligations on time. With Life Insurance the proceeds are available almost immediately upon your death, and will avoid any difficult situations for your family.

4. If you are keen to leave an estate for your heirs, you can achieve this with Life Insurance - automatically providing assets for your family after your death.

5. Life Insurance is a great way to give to charity when you die. You may have always wanted to give to charity but lacked the finances - Life Insurance can do that for you.

Did you know?

• In 2002 the main causes of death were circulatory diseases, which include coronary heart disease and strokes (39%), cancers (26%) and respiratory diseases (13%),
• 1 in 3 people develop cancer at some point in their lifetime, 1 in 4 die from cancer
• Cigarette smoking has been identified as the single most significant cause of preventable disease and premature death in the UK - a third of all cancer deaths are directly linked to smoking
• 1 in 5 male deaths occur between the ages of 20 and 65
• There are an estimated 2.68 million people living with Coronary Heart Disease in the UK
• Anywhere between 15% and 60% of a person's estate is needed to meet mortgage payments, funeral costs, debts, valuation fees, medical expenses, income and estate taxes, even redundancy payments

Top tips for Life Insurance buyers

A Guaranteed Life Insurance policy could eventually work out cheaper than a Reviewable Policy - Reviewable Life Insurance policies have the lowest premiums on day one but Guaranteed policies work out much cheaper over the medium/long term. This is because as the years go by, Reviewable premiums increase whereas Guaranteed policies have their prices fixed and guaranteed forever.
(There’s more information about this in our FAQ Menu)

Always have a Life Insurance policy written "in Trust" - Life Insurance policies written “in Trust” ensure that in the event of a claim, the money goes quickly to the person(s) you intended and avoids all Inheritance Tax. That could represent a 40% tax saving!

Think about buying two single Life Insurance policies rather than a joint policy - A Joint Life Insurance policy pays out if either policyholder dies. The policy then automatically terminates. This leaves the second person uninsured and probably at an older age. Older people can struggle to get life insurance, so consider taking out separate policies now rather than a joint policy. It will work out a little dearer but you get double the cover and double peace of mind.

Now could be a good time to add Critical Illness to your new Life Cover policy - Might you need Critical Illness Insurance in the future? If so, consider adding it to your policy now. Why? Two reasons:

• Combining Level Term Life cover with Critical Illness in the same policy works out significantly cheaper than buying two separate policies.
• You should be able to buy a combined Level Term Life Insurance and Critical Illness policy with a guaranteed fixed premium. This is a big advantage as few life companies offer a guaranteed premium if you buy Life and Critical Illness cover separately. (Read Tip 1 for more details)

Adding health cover to your life insurance policy? Make sure you understand the difference between Terminal Illness and Critical Illness cover.

People frequently confuse Terminal Illness cover with Critical Illness cover - but there’s a world of difference between the two. Make sure you appreciate the difference.

A Terminal Illness is any illness from which you are expected to die within 12 months from diagnosis (as certified by a Doctor).

You cannot buy a stand-alone Terminal Illness policy – terminal illness cover is always included free within Critical Illness policies and most good life policies automatically include Terminal Illness cover at no extra cost.

In comparison with Terminal Illness Cover, a Critical Illness policy pays out if you are diagnosed with a much wider range of qualifying chronic illnesses and takes into account that you could survive for a very long time.

For example: certain cancers, heart disease, multiple sclerosis, loss of speech/sight/hearing, onset of Parkinsons or Alzheimers disease before the age of 65, coma, various tumours, stroke, third degree burns etc. Conditions do vary between companies. Critical Illness cover always costs you extra.

If you’ve asked for a quote combining Critical Illness with Level Term Life Insurance and the quote is more than you can afford, then simply say how much you can afford and, whilst you’re on the phone to ClickLife, they’ll tell you how much cover they can get for you.

They can do this by reducing either part of the cover to match your budget (this normally means reducing the critical illness sum insured as this is by far the most costly part). Alternatively, just change the total sum insured. ClickLife will be able to process as many alternatives as you require before finding the right quotation for you.