The Insurance Surgery

We have collaborated with The Insurance Surgery to provide you with information about Insurance. If you choose to purchase a policy from The Insurance Surgery, 25% of the value of the contract will be donated to the Blesma The limbless Veterans. This contribution is provided by the company and will not result in any additional costs to you.

Finding insurance that's right for you

Although we have a rigorous screening process, we always advise conducting your own research to make an informed decision and be thoroughly aware of any risks before you decide whether to purchase any insurance policy. We do not endorse any specific provider.

What is life insurance?

The purpose of life insurance is to provide financial security for your family or business in the event of the policy holder's death. Your life insurance policy can offer a one-time payment or regular monthly benefit as specified in the policy terms. 

Life insurance options

There’s more to life insurance than just covering the cost of a mortgage. Some of the options available include:

Family life insurance

Typically pays out a lump sum of money to your beneficiaries to help them cover their living expenses or other financial obligations. The policy can be tailored to your specific needs. Family life insurance can be purchased as a joint policy, covering both you and your spouse, or as an individual policy.

Family income benefit

A family income benefit policy works in exactly the same way as any other life insurance product, as it pays out a tax-free payment on death. The main difference between Family Income Benefit and other life insurance policies is that this type of cover pays-out a regular income rather than a lump sum payment.

Over 50’s life insurance

Unlike regular life insurance, an over 50’s life insurance plan is slightly different. You do not need to answer any medical questions or provide evidence to complete the application, however you can choose to answer two very brief medical questions which will reduce the qualifying period from 2 years to 6 months. It is a guaranteed acceptance policy, and anyone who is over 50 can take out a policy.

Whole of life insurance

Whole of life insurance is a type of life insurance policy that provides cover for the entirety of the policyholder’s life, rather than a specific term. It is called “whole of life” because it covers the policyholder for their entire life, rather than just a specific term (such as 10, 20, or 30 years). 

Mortgage | Decreasing life insurance

Is a type of life insurance policy that is designed to pay off your mortgage balance if you die during the policy term. In this type of policy, the payout amount will decrease over time, in line with the mortgage total. It is typically used by homeowners who have a mortgage on their property and want to ensure that their loved ones can continue to live in the home if they pass away.

Business life insurance

There are many types of business life insurance such as

• Group life insurance
• Keyman insurance
• Shareholder protection insurance
• Business loan protection

Factors to think about when considering life insurance:

• Duration of the policy (term). How long would you like the cover to run. The average duration is around 20-25 years...however you can also take out a policy for 40 years
• Amount of cover needed. Consider factors such as covering your mortgage, rent, if you want your family to receive a lump sum and funeral costs
• Family medical history. If you know of any family medical history, such as a history of cancer – it’s best to declare this as it may affect the pay-out if you don’t. 

What if I have been declined life insurance previously?

Don’t worry, a decline elsewhere doesn’t mean you can’t get cover. A medical condition such as limb loss or diabetes, can require a specialist who knows where best to place your application and which insurers can offer cover for your personal circumstances. 

What information do I need to apply for life insurance:

When applying for life insurance, underwriters will need to know details such as:

• Have you had any surgery or treatment? Or are you currently awaiting any? 
• Do you have a diagnosis and if so when
• Regular medication you are taking
• How your health is currently

Applying through a specialist life insurance broker

A specialist life insurance broker will deal with lots of people that live with many other medical conditions on a regular basis. They will understand and provide support on getting the best policy in place. An expert adviser will know how to:

• Review your application
• Understand the information required
• Request & follow up on the correct medical reports - that may be required to ensure your application can be considered and cover arranged
• Negotiate with the underwriter to approve the application 

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