Life insurance - Life cover - Life insurance quotes
Low cost life insurance is a specialist protection brokerage based in the UK. We specialise in most forms of protection insurance. We are part of one of the biggest networks in the UK, Personal Touch Financial Services Ltd. Personal Touch is authorised and regulated by the Financial Services Authority and the number is 187834. Being part of this network enables us to have access to search the leading providers of protection in the UK and get the most appropriate policy that suits your needs at the best possible price. The team at low cost life insurance have over 50 years experience in the protection insurance industry. It is this experience that allows us to offer unrivalled advice and knowledge to ensure that you get the best life cover policy that will suit your circumstances, combined with the fact that we discount the life insurance quotes which are acheived by us sacrificing commission.
We are available to discuss client’s needs from 9.00 am to 9.00 pm Monday to Friday, and will confirm any recommendations either by post email or telephone. Our advisers work on a flexible basis to accommodate the best times to suit you. We are happy to contact you on a weekend subject to your consent to discuss your life insurance quote. Please note we do not charge a fee as we will receive a commission from any provider that you select for your life insurance cover, and you will have the right to cancel under a cooling off period normally within the first 14 days. We do store and process your data in accordance with the Data Protection Act 1998 providing you give us your consent.
What we like to do is have a short conversation with you to establish your current situation in order that we can give you appropriate advice. Any details given shall remain confidential and used only for the purpose of your life insurance quote. It is important to disclose all your circumstances to us in order we can tailor any appropriate advice. We will always email or post any life insurance quotes together with our Initial Disclosure Document which contains important information regarding the services we provide. We will give you these as soon as possible including the IDD document and certainly prior to the conclusion of any contract. We pride our self on TCF (Treating Customers Fairly) and make this central to our culture. Life insurance is the backbone to our company however we do cover all aspects of personal and general insurance. We are centrally based in the UK but because the majority of the business we do is over the telephone we have clients all over the UK.
No matter how hard we try to avoid certain events in life, inevitably they will happen to us or to someone close to us. In these instances we should be thankful that there are a huge range of insurance policies designed to cover our best interests, valued possessions, our safety and the financial security of those close to us, in case the worst was to happen. Here at lowcostlifeinsurance.co.uk we offer some of the most competitively priced and bespoke life insurance quotes to provide that safety net for your loved ones. As a standard or basic type of personal protection cover, life insurance in some form or another has been around for the last 300 years or so. This life cover equates to the fact that a financial lump sum is paid to your beneficiaries in the event of your death or upon contracting a serious or terminal illness. That is the whole purpose of this type of insurance. The money that is paid to you or your spouse is usually used to settle liabilities, money lenders, mortgage companies, etc or provide your partner and children with what could be a large cash amount.
The origins of life cover as we understand it today stem from early on within civilized life cultures where religious principles of offering assistance to the needy and helping thy neighbour. A common occurrence of this type of community assistance was if your home set alight and burned to ashes. All the surrounding neighbours and residents would pull together and help rebuild a home for you and your family. In the 17th Century a man called Tonti made dramatic changes to the concept of life insurance and influenced the way we see life cover today. Placing more financial methodologies to protection cover and introducing calculations into the equation, Tonti ingeniously created a special fund that many people could opt into, almost like a lottery. At the end of the year, the funds were evenly distributed amongst those who were still alive. A truly popular concept, more and more wanted to place their names in the life cover lottery. As this happened, Tonti adapted and modified the life protection policy to include actuarial calculations such as life expectancy and how many previous claims into the equation.
And so this is where the join between the earliest forms of life cover and the latest definition of cover that you are familiar with brings us. To explain the meaning of any insurance is simply the sharing of losses. In other words, exchanging a loss such as your policy premium for a large payout, the protective policy you gain is designed in such a way as to offer you cover against a loss as economically large as losing a partner and monetary income into the home. Life insurance quotes outline the lump sum amount that you are entitled to receive if you or your partner passes away. This lump sum can make all the difference to your financial stability during the most difficult times. So the question arises, is life insurance really that necessary? Well perhaps not as much if you are single or do not have children or a family, then the reality is that if you do then should definitely consider taking out a policy. With many types of life cover policies available and with many providers offering tailored or bespoke protection plans to suit a variety of different situations that can be appropriately attributed to you, the reality is that you can arrange life insurance quotes to match your lifestyle and requirements.
Whatever the financial needs that you may leave if faced with a terminal illness or death such as the replacement of your lost income to support your family, life insurance can go a long way to assisting your loved ones after you depart. Understanding what level of cover would be best for you would relate to how important your weekly or monthly contribution would be to the financial running of your family enables you to correctly determine the best cover options for you. If your family can comfortably manage then it is a good idea to take out insurance to allow for a lump sum to be paid to secure your children’s future education, pay off the mortgage or settle any bills or loans. One of the most popular methods of calculating the sum of money your beneficiaries would receive is to calculate multiples of your annual salary, which is one of the easiest ways in which many life insurance quotes are calculated by the majority of insurance providers. Although not the simplest method that is available to you, it is meant to be a rough guide and changes in circumstances or defining factors that can have an effect on the quoted policy may occur in the distant future. Quite simply there really isn’t a perfect method as many choose to incorporate their own ideas and methodologies into what they think their life insurance policy should entail. With each and every person’s situations and requirements being different, individuals need to choose the most beneficial and appropriate solution for them and in turn need to be aware of the many available solutions offered by their insurance provider.
Many of us will think that when we pass away, our debts or written off...well, not exactly. In fact, when we pass over, any debts are automatically passed onto the next of kin, usually a spouse or in other case our children or even parents and siblings. This is possibly one of the most upsetting scenarios, having to cope with the tragic loss of a loved one and discover that you are left responsible for certain debts they incurred and left behind. Even if we use the point solely for the reason to secure adequate life cover, then taking out a policy is really recommended. With so many factors to consider, for example the mortgage, taking out a policy that covers this and other specific liabilities will greatly lessen the financial impact on your family. If you request life insurance quotes to specifically pay off your mortgage, should you pass away, as mortgages decrease over time so do the premiums on your policy. An excellent way to secure the right cover and one of the most cost efficient ways to offer protection for your family home if you die, with a tailored life insurance policy you will discover that the payments become cheaper, the longer you pay your premiums.
With interest only mortgages, the payments do not reduce, they are generally more expensive and it is advisable to make further arrangements to cover the cost of your mortgage as the insurance will only pay off the interest amount that you pay each month. Alongside with this there are store cards, credit cards, loans (both secured and unsecured), student debts, possible car and other finance plans and various other financial expenditures that you need to consider covering. A mind boggling consortium of things to cover we admit, but leaving your family debt free has to be the best decision all round. All we have mentioned can easily be covered with our life cover plans that are specifically designed to be crafted and tailored to your specific needs and requirements. Cutting corners when arranging your life insurance quotes can mean being unprepared if the worst happens and it is advisable to seek the guidance and assistance offered to select a combination of mortgage assistance and bills / other expenditure protection. With lowcostlifeinsurance.co.uk we can cover a mortgage and additionally provide enough life cover insurance to leave your loved ones in a much more financially stable way just as long as policy quotes are kept low and affordable.
