Life insurance explained
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If you would like to ask us a question then please do not hesitate to call our customer service team on 0800 652 9758 from 8am to 9pm Monday to Friday, and from 9am to 3pm on Saturdays, or use our online comparison tool to get a quote.
Frequently asked questions
If you live in the UK , Channel Islands or the Isle of Man and are aged between 18 and 69, you can.
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Most people usually take out their insurance until some key date in the future. It could be when they intend to retire, when their mortgage is paid off, or when they feel their children may leave home and support themselves. Work back from that date to now, and that will help you decide the number of years you need to be insured for.
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Joint life policies are available, but “advisers” will typically recommend two single life policies as they usually cost hardly any extra and will provide “double cover”, (this means that if both lives die together both policies pay out, rather than just one joint policy).
Having this “double cover” can provide very valuable extra cover which can help support surviving family members for hardly any extra cost.
Policies that include critical illness benefit would almost certainly be better split into two separate plans as if life 1 is diagnosed with say cancer, life 2 will not want their cover to be lost, which would be the case on a joint life, first claim policy.
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It depends on your own situation. Some things to take into account are: how would your financial dependants meet their bills without your financial contribution? Ensure that any mortgage that you are responsible for paying for is repaid upon death, then add up how much additional cover would be required to support your family.
Try a few quotes and see what you can get for your money. This is not advice or a recommendation.
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Yes, you can start your application online anytime which will in many cases mean the plan is in force within 24 hours. If you need cover “right now” then call free on 0800 652 9758 and we will be pleased to help.
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Waiver of Premium is an additional charge option that protects the monthly life insurance premium in the event that the policyholder is unable to work, and hence unable to keep up the premium payments on their policy.
Practically this means Waiver of Premium is designed to protect the insurance in the period where the policyholder might be most at risk, in the period of a sustained illness.
Waiver of Premium costs are typically around 2.5% to 3.5% of the premium to be covered, and are dependent upon the life assured’s occupation.
Some occupations cannot be covered for waiver of premium, as the insurers regard protecting this income as too risky (e.g. Professional Sportsman).
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Yes, we have level and reducing (mortgage protection) plans that can be set up to repay interest only and repayment mortgage types on death. You can also opt to include critical illness insurance and waiver of premium too.
Furthermore in most cases we can add insurance to help pay your mortgage during periods of long term sickness (which statistically is much more likely across the population) and if necessary unemployment insurance is available also.
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Monthly by direct debit is usual.
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If you have a living benefit (critical illness, income protection, waiver of premium or unemployment cover), then you should check the policy booklet for details about how to claim. If you need help then please call us on 01243 817917.
If you need to make a death claim on behalf of another, then please call us on 01243 817917, our team is highly efficient and very helpful.
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You, if the benefit is a living benefit, and either your Trustees if the policy is in Trust, who are then responsible for carrying out the provisions of the Trust, or your Estate if you have not placed the policy in Trust.
If the policy is a joint life policy, not in Trust, then the proceeds are payable to the surviving owner of the policy, (the other life assured).
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Both terminal illness and life claims are usually paid free of personal liability to income and capital gains tax but in some circumstances inheritance tax may be payable. You can normally help avoid this by putting your plan under a suitable trust.
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Yes, but of course the cover will stop also.
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Not normally. Good practice is normally to arrange policies with “guaranteed” premiums which whilst they might change during underwriting are fixed for the policy term once the plan goes into force.
Sometimes however plans with critical illness included are arranged on a “reviewable” basis as they provide significantly more cover at outset for a lower premium which might better suit the circumstances. Reviewable plans are clearly marked and normally the premiums are not reviewed up or down for the first five years.
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uSwitch Life Insurance is a trading style of uSwitch Ltd (No. 03612689). Registered in England and Wales at 111 Buckingham Palace Road, London SW1W 0SR. Authorised and regulated by the Financial Services Authority.
uSwitch Life Insurance is provided and administered by Direct Life & Pension Services Ltd, who are authorised and regulated by the Financial Services Authority. Registered Office; Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire WD6 2XX. Registration number 2467691.
Direct Life & Pension Services Ltd may record telephone calls for quality assurance purposes
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