PERSONAL PROTECTION


Protecting ourselves and our families is a natural desire for most people and this applies to financial matters just as much as other forms of security.

We at M&N Insurance Service Ltd understand this and offer clients such as yourself a comprehensive review and implementation service that aims to protect them against life’s vagaries, including:

  • Ensuring that your mortgage and other borrowings can be repaid should you die, become ill or, in many cases, be made redundant;
  • Ensuring that you and your family have enough to live on should you become ill for a long period;
  • Ensuring that your family have enough to live on should you die.

As part of our service, we will look at your existing arrangements to ascertain whether you are paying more than you need to for the cover you require.

Term Life Insurance

Life insurance is often a difficult subject to comprehend as nobody wants to think about death, but the reality is that our loved ones will need financial security after we have passed on. Term life insurance or term life assurance is the cheapest and most basic form of life insurance available and covers you for a fixed period of time, paying out in most cases a one-off lump sum should you die during the policy term. As with most insurance policies, there are various different types of term life insurance (term life assurance) including:

  • Level Term Life Insurance means that the sum to be paid out is assured and remains the same throughout the term.
  • Decreasing Life Assurance means that the amount or sum decreases over the term of the policy. Sometimes referred to as mortgage protection or mortgage life insurance, this type of cover is often chosen to help protect capital and interest repayments on a mortgage as the amount will decrease in line with your mortgage debt.
  • Renewable Term Life Insurance basically refers to a policy where there is an option to renew the policy upon its expiry.
  • Over-50 life insurance is term life insurance cover aimed at customers over 50 years of age.
  • Convertible Life Assurance is a level term life insurance policy that gives you the option to convert to whole life or endowment insurance.
  • Family Income Benefit provides an annual tax-free sum payable on death of the breadwinner and some insurers will allow the sum to be paid as a one-off lump sum.

With some of the above term life insurance policies it may also be possible to extend your level of cover through additional options such as critical illness cover and guaranteed premiums.

Cheap Life Insurance Quotes

Life insurance quotes are based on a variety of factors including your occupation, medical history, whether you are a smoker or non-smoker and your age. As life insurance or life assurance is calculated on life expectancy probability, all these factors will impact upon the cost of your policy. For example, a 65-year-old smoker who likes mountaineering would be considered a far higher risk than a 25-year-old non-smoker with no underlying health problems; therefore the cost of their policy will be higher.
Consequently it is necessary to consider a variety of life insurance quotes from a variety of insurers in order to ensure you receive a level of cover that is at the right price for you. Always remember to disclose everything to the insurer as failure to do so could result in a ‘non-disclosure’ ruling and your provider may choose not to pay out. As the level of cover and terms and conditions of life insurance policies will vary from provider to provider you would be well advised to seek the services of an insurance broker.

M&N Insurance Service Ltd is a ‘Full Range’ insurance brokerage, who can not only arrange life insurance quotes from some of the UK’s leading insurance providers, but can also offer advice and assistance with mortgages, pensions and other financial investments through our financial services arm. Established in the 1950’s, all our life insurance quotes are from quality insurers and underwriters with whom we have built deep-rooted relationships.

Cheap Life Insurance

Whatever your reasons for investing in life insurance (life assurance), whether you are looking to ensure your mortgage repayments and other financial obligations are taken of, provide funds for your children’s education and healthcare needs or simply wish to replace your earnings, getting the best quote for the right level of cover is an important part of any life insurance policy. Many insurance providers will offer cheap life insurance but with fixed or limited cover, so it is vital you understand the terms and conditions of every quote you receive.
The cost of life insurance or life assurance will depend upon a variety of factors including your lifestyle, age and occupation as mentioned previously, but also upon the duration of the policy. Cheap life insurance is usually associated with a short-term policy or with individuals who the insurance provider sees as a low risk case. Generally the longer the term of the life assurance and the higher the set amount assured the greater the premium you will need to pay.

As an experienced insurance brokerage, M&N Insurance Service Ltd has built strong relationships with some of the UK’s leading insurance providers, enabling us to offer value-for-money life insurance or life assurance policies that are tailor-made to suit your individual needs. For more details about how we can help find you a low-cost life insurance policy, please click here.
 

We may also be able to provide “critical illness” insurance that pays out if you are diagnosed with a serious illness.

For more details, please contact us.