11 Purdeys Way, Rochford, England, SS4 1ND
11 Purdeys Way, Rochford, England, SS4 1ND
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Life insurance is invaluable for many that want to give their family/loved
ones the protection of a payout after they have passed away.
Key Person Insurance is a vital form of business protection. It ensures your company remains financially secure if a team member unexpectedly dies or becomes critically ill. Your company can safeguard against the sudden loss of a key contributor, navigate challenging transitions smoothly and protect future growth with the help of Key Person Insurance.
You may also wish to take out relevant life Insurance for your employees. If an employee or director dies or develops a terminal illness, the insurance will pay out a lump sum to their beneficiary.
Key Person Insurance is a vital form of business protection. It ensures your company remains financially…
Business Loan Protection is a form of life insurance. It pays off your outstanding corporate debts…
When you are thinking of purchasing life insurance, it is important to
consider other types alongside term insurance.
Term insurance, which is often the most popular and common type of life insurance will pay out a lump sum (also known as the ‘sum insured’) if you pass away within a set amount of time. When you start to compare life insurance quotes, you will have to set the payout amount, alongside the length of the term. In order to pay the life insurance each month, you should, however, ensure that you have money each month to do so – there could be a penalty if you miss a payment or the insurer could simply stop to cover you.
When considering the amount you want the insurance to payout, you should consider how much money you need for your family to be financially stable after you have passed away, alongside how much money and time might be left on the mortgage. When you are taking out a mortgage, your mortgage lender might suggest that you take out life insurance to make sure that if anything happens within the term, your loved one has enough to pay the mortgage and the bills off each month.
There are several types of life insurance available (depending on the insurer that you choose), including:
It’s advisable to set a maximum amount of cover based on the employee’s gross annual earnings and age. For example, 17-29 years old may have remuneration of up to 35x, while employees over 60 years old may have remuneration of up to 15x.
The amount of cover for a Relevant Life plan should be based on the lost income of the employee, including their salary, bonuses, benefits in kind and regular dividends.
You can also look into policies that can include your partner and critical illness cover. As mentioned above, joint policies are ideal if you have just bought a house, giving your partner the financial cover that they need if the unexpected happens. Critical illness cover is a great addition that will pay out a tax-free lump sum if you have been diagnosed with a critical medical condition – one thing to consider with this addition, however, is that it can raise the cost of your life insurance policy each month and it can’t be paid out if you/your loved one passes away within 14 days of the diagnosis.
If you are on the hunt for life insurance quotes, it is a good idea to know
what to look out for.
Through our website, you can compare life insurance quotes online and get a quick quote that will help you to narrow down the options. You should look at what each of the life insurance policies covers, what they don’t cover, the amount that they cost and how long the cover is applicable for. The price of the life insurance will depend on your lifestyle – and the cost will be higher each month if you are considered as a high risk – i.e. if you have a medical condition, if you smoke, if you are overweight, etc.
When comparing, you should also look at the ratings of each insurer. If the provider has a notoriously low payout, they probably aren’t the most reliable. However, through our website, we only have the best selection of providers to choose from, with reliable and trustworthy services.
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Jody was very helpful in explaining the options and I thoroughly recommend his company
We received a wonderful service from mykeyman and will be using them again. The service and product knowledge from team is excellent. Everything was made easy to understand. The price was the best we found too.
I had a great time working with My Key Man Insurance when I applied for the different insurances they offer. They were able to answer all of my questions quickly and effectively. I will recommend them to my friends and family.
Jody was very helpful in explaining the options and I thoroughly recommend his company
The standard of service was first class. They kept me up to date with progress on my Relevant Life Policy, followed up promptly following delays caused by my medical practice being slow in compiling reports, and responded instantly and clearly to any questions I had.
We received a wonderful service from mykeyman and will be using them again. The service and product knowledge from team is excellent. Everything was made easy to understand. The price was the best we found too.
Jody was very helpful in explaining the options and I thoroughly recommend his company
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Aviva Relevant Life Insurance Review Get My Instant Quotes Start saving money on life insurance today When it comes to Relevant Life Insurance…
This will depend on your personal circumstances and the amount of coverage that you require. In order to calculate the amount that you need, you will have to consider the length of time, how much you can afford to pay each month and other aspects – which will be factored into which provider you choose.
