Family Protection Life Insurance
The Insurance Surgery is the leading UK specialist for providing family protection life insurance for people with pre-existing medical conditions, or a dangerous job or hobby. We are passionate about protecting families and have helped over 1600 people a year since 1999 to find the protection they deserve.
What is Family Protection Life Insurance?
Family protection life insurance, also known as level life insurance, is a policy designed to leave a lump sum behind for your family upon your death. This can be used to cover funeral costs, pay off an outstanding mortgage debt or to simply leave some money for your loved ones, so that they are protected. Unlike a mortgage protection life insurance policy (also know as a decreasing policy or decreasing life insurance) the amount of cover that you apply for will be the amount of cover that pays out in the event of your death (providing you pass away within the cover term). This makes this type of life insurance more beneficial for family protection as you are guaranteed a certain amount of money if your policy pays out, so you can guarantee that your family will be financially protected if you pass away within the term of your level life insurance policy.
Although you should not confuse this with a whole of life insurance product, as with whole of life insurance, your policy is guaranteed to pay out upon your death whenever that is , whereas with level term assurance your policy will only pay out if you pass away within the term agreed upon at the start of your policy (i.e. 25 years). For example if you had a 25-year policy which you took out when you were 50, if you were to pass away aged 76 (26 years after the policy) it would not pay out as the policy with have finished; however if you were to pass away when you were 74 it would pay out if full as you would still be within the term of the policy.
It may seem that a whole of life insurance policy is the better option, as it will pay out regardless of when you were to pass away, however there are some benefits to a level term assurance policy. The main benefit is the price difference, because a whole of life insurance product is guaranteed to pay out, it is considerably more expensive than a level life insurance policy.
Why choose The Insurance Surgery?
The Insurance Surgery specialise in sourcing the best family protection life insurance for people with pre-existing medical conditions, high risk jobs or extreme hobbies.
We have over two decades experience of working with high-risk clients to find them the life insurance that they need and that they deserve, we have extensive knowledge of the whole of the insurance market and we have access to a range of mainstream and specialist providers and products. Therefore, we have the best possible resources to find you the perfect cover for your personal circumstances.
If you would like to see how we can help you call 0800 083 2829, request a call back or get a quote and one of our advisors will be in touch.
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