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Term life insurance, also known as life term insurance, is a type of protection that covers your life for a set term and will pay your beneficiaries should you pass during that time. Therefore, it can be seen as the ultimate safety net for your family’s financial future.
Taking out a term life insurance policy is a particularly popular mortgage life insurance choice as the duration of coverage can be set to match the mortgage or last until you hit retirement. Get your free quote to take the first steps today.
Term life insurance is one of the most commonly selected insurance types for two main reasons. Firstly, the terms of a life term insurance policy are often easier to understand than other coverage types. Secondly, this type of protection is far cheaper as it only covers you for a set period.
However, this is seen by many as the ultimate emotional safety net and mortgage life insurance plan because it guarantees that the home can be bought even if the worst happens to you. This would remove a huge financial burden for your family.
Alternatively, if you want a policy that never expires as long as you keep making premium payments, it may be worth analysing term vs whole life insurance. The latter can be expensive but may be the best choice under certain circumstances.
Term life insurance plans can be taken at any age and may last for as little as one year and potentially for 70 years or longer. However, it only works when it aligns with your specific requirements, which could reflect your mortgage or extend to cover your income and other financial matters.
When searching term life insurance rates, it’s important to ask the right questions. Our advisors can help you consider key issues like;
Asking these questions will ensure that the right level of coverage can be selected for the right length of time, thus providing the best protection for your mindset and your family’s financial health. Avoiding unnecessary excessive features also ensures that term life insurance remains affordable and convenient.
Whether opting for a 20 year term life insurance plan to cover your mortgage until dependents are ready to fly the nest or taking a longer agreement, choosing the right provider is vital.
The best term life insurance providers in the UK include AIG, Aviva, Legal & General, Royal London, and Vitality. Cheaper Life Insurance is a broker that partners with them all to present the very best term life insurance quotes based on your needs.
All information is provided impartially so that you can make the right decision for you and your family.
Term life insurance ultimately allows you to protect your family’s finances should death (or critical illness if covered) occur. Without a payout clearly defined up until the end of the term agreement, Cheaper Life Insurance can help you start to put the right package in place today. Better still, our network of insurers is available to applicants throughout the UK.
To find out more, call us today or use the free quote tool to get your personalised results.