Life Insurance

Here at Quick Quote Life, our Life Insurance advisors offer a range of policies to cover you in a number of different ways; those that suit your needs.

Whether you want to buy Term Life Insurance, Whole of Life Cover or anything in between, we have a policy that will suit your needs.

What is Life Insurance?

Life Insurance is an agreement between yourself (the policyholder) and your insurance provider.  It ensures the protection of your loved ones when you pass away or are diagnosed with a specified critical or terminal illness, by paying out a lump sum.

The cost of Life Insurance cover depends on a variety of factors such as your age, health, and lifestyle.


Why should I take out a Life Insurance Policy?

Life Insurance is one of the most important investments you can make if you intend on providing financial security to your loved ones should the unexpected happen. Life Insurance can cover your dependents, such as your partner, children or anyone else who may rely on you financially, by helping them towards paying off repayment mortgage debts, student loans, and any other expenses.

Nobody wants to plan for what should happen following their death, especially when it comes to financial organisation, but considering the benefits of Life Insurance, this is something that anyone and everyone with dependents should do. Buying Life Insurance ensures that loved ones feel at ease with the knowledge that in the event of your death, they would be financially secure.

How does Life Insurance work?

There are a number of different Life Insurance policies to choose from, the most popular being Term Life Insurance.  This pays out a pre-determined amount of money in either a lump sum or as a regular monthly income if you pass away during the specified cover period. 

You choose the amount of the final payout and the length of the term when taking the policy out.  People often choose this plan to run alongside a repayment mortgage or have cover in place until their children have reached a certain age and have chosen to move out. Once the date of the policy expires, then the cover would no longer be in place as it should, in effect, no longer be required.

Here at Quick Quote Life, we know that buying Life Insurance online can be complex; there is also the risk of not buying the right type of policy that sufficiently covers all your financial needs when you're gone.  With this in mind, we decided to offer a one to one service and have employed a team of highly qualified advisors who will go through all of your requirements step by step so you know which plan is right for you and your family's future.
Our process promises to give you a clear understanding of the appropriate amount of cover you will need when it comes to protecting your loved ones once you’ve passed. Not only will we try to find the cheapest option, but the most suitable plan for you.

What’s the average cost of Life Insurance?

Life Insurance policies can start from as little as £5 per month depending on your requirements and your situation. The price can vary depending on a number of factors, including your age, health, occupation, whether or not you smoke, and if you have chosen the length of the term and whether you wish to add on critical illness cover at an additional cost when you take out Life Insurance.

On average, smokers usually pay 15-20% higher premiums than non-smokers with corresponding demographics and health conditions. Smokers also cannot qualify for the best Life Insurance quotes until a minimum of 12 months have passed since nicotine was last in their system; this includes e-cigarettes, nicotine patches, and any other nicotine products.

An alternative to Term Life Insurance, which allows you to decide on the time frame and how much cover you need, is ‘Decreasing Term’ Insurance, which usually works out cheaper. This plan would be ideal for those who feel they will need less cover as time goes on. A Decreasing Term Policy pay-out tends to reduce over the years (usually in parallel with a repayment mortgage).

Why it's worth taking Life Insurance out earlier

Life Insurance generally works in the way that the younger you are when you take out your policy, the cheaper it’ll be.

For example, an active 20-year-old who is also a non-smoker has a much smaller risk of dying during the period of the Life Insurance policy in comparison to an 85-year-old smoker who has a progressive lung condition.

Whether you are single without a mortgage or any dependents, or you are a couple with children and a new home, choosing to take out Life Insurance at the youngest possible age is the best decision when planning for your family’s financial future.

How Quick Quote Life can help

Life Insurance doesn’t have to be complicated. We are here to help and advise on all the information you need when selecting the best policy for you. Here at Quick Quote Life, our objective is to make the process as easy as possible for you, so speak to one of our advisors today and feel confident that should the worst happen, you have the right insurance in place.

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