Coronavirus Life Insurance

Coronavirus Life Insurance

We understand that this is a very unsettling time and are closely monitoring the Coronavirus 2019-nCOV outbreak. We know you are experiencing a high level of inquiries from your customers and as always we are here to support you, so we’ve created some answers to frequently asked questions which may help. We will continue to update this website with Coronavirus Life Insurance information as it develops.

Corona Virus Life Insurance Agents Near Me

Here for our customers: at 1st Insurance we are privileged to have served our customers and communities in the UK for over a hundred years. We are committed to playing our part by supporting those who need us. Find out more about the three simple principles we are committing to at this time.

Life Insurance Best

When you purchase any kind of life insurance, whether it’s over 50s life insurance or a different kind of policy, you’re effectively buying peace of mind that when you die your loved ones will be provided with a cash lump sum.

This can be put towards anything they want, so it could be used to clear debts, cover living costs, or to pay for your funeral bills. However, over 50s cover has several distinct differences to other kinds of life insurance.

Life Insurance Uk Cost

When you make your application, you can decide either how much you wish to pay each month – which, combined with the desired length of your policy and the type of insurance you want, will give you a projected payout – or you can decide the size of your payout. In the latter case, the insurer will then work out an average life insurance cost spread over monthly premiums.

Since it’s difficult to determine an average life insurance cost for everyone, you will need to assess what your personal needs and circumstances are to get an accurate life insurance estimate. Considerations may be your mortgage, your cost of living, how much your life insurance costs will be dictated by the type of insurance you need, the size of the payout you want and your existing savings or saleable assets. As a rule of thumb, the lower the payout, the lower the monthly premiums.

Life insurance premiums are also based on the risk the policy holder poses to the insurer. Therefore, the higher the risk, the higher the premiums. More detail is given on what is considered higher risk below, or you can take a look at our guide.
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Post From: 1st Insurance