Life insurance – a policy that provides financial protection for the insured’s loved ones in the event of one’s death. In exchange for regular premium payments, the insurance company pays a lump-sum amount (known as the death benefit) to the policyholder’s beneficiaries upon their passing. This financial cushion can help cover costs such as your mortgage, other outstanding debts, general lifestyle or even future expenses like children’s education.
There are different types of life insurance policies that we advise on, with the two most common being level life insurance and increasing life insurance.
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- Level life insurance is a type of life insurance policy where the death benefit and premiums remain the same throughout the term of the policy. This makes it predictable for policyholders, as they know exactly how much they will pay and how much their beneficiaries will receive if they pass away during the term.
- Increasing life insurance typically involves a gradual rise in the amount of coverage, with corresponding increases in the premium. The policy is tied to the Retail Price Index (RPI), and both the cover and the premium increase in line with inflation. Premium increases typically match the rise in RPI, though it can vary. Historically, RPI inflation has ranged between 1% to 4% in recent years, but this could fluctuate depending on economic conditions.
The Benefits of Using Protectus Healthcare as Your Broker
Choosing Protectus Healthcare as your life insurance broker brings several advantages.
- Expertise: Life insurance can be a complicated product, with various policy options, terms, and conditions that may be difficult to grasp. At Protectus Healthcare, we can simplify the process, offering personalised advice based on your individual needs, financial situation, and overall goals.
- Tailored Solutions: Every case we deal with is personal to the client, and we tailor your policy to suit your individual needs. Protectus Healthcare works with a wide range of insurers to offer customised plans that fit your lifestyle and budget. Whether you’re looking for affordable term life insurance or a comprehensive increasing life policy with Critical Illness cover bolted on, we can find the right option for you.
- Market Comparisons: We compare multiple providers and policy options on your behalf, ensuring that you get the best possible deal. Our priority is you and your specific needs, which means finding you a policy with fair and competitive rates.
- Continued Support: We don’t just vanish once the policy goes live. Protectus Healthcare offers ongoing support throughout the life of your policy. Whether you need to adjust your cover, update your beneficiaries, or simply have a question, our team is here to assist you throughout.
- Trusted Broker: Protectus Healthcare works for you, not the insurance companies. Our independence allows us to offer fair recommendations and secure the best possible protection for you and your family.
Give us a call today on 0333 800 8009 and one of our advisors will be happy to help!
