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What does life insurance cover?

Life insurance helps your loved ones financially when you die, or if you become seriously ill if critical illness cover is selected. It is intended to provide help to your loved ones when they cant rely on your salary or income any longer.


What can a pay out from life insurance be used for?

The pay out can be used to clear debts, pay off the mortgage or just cover everyday expenses. It could even contribute towards your funeral if you haven’t set anything aside for that.


Should I take out life insurance?

If you have a partner or family who may struggle to cope financially, then life insurance could offer the help they need at a very difficult time.


How do I decide the length of the life insurance term?

You should consider exactly what you want the life insurance cover for. Maybe you want to make sure the policy lasts as long as your mortgage repayments, or perhaps you want to link it to your children’s age, so it would cover them until they have turned finished school or university.


How much life insurance do I need?

This depends on your individual circumstances as the amount of cover required is often different for each family. If you are married, have a large mortgage and four children then you are likely to need more cover than a single parent living in a rented flat with one child.


How much does life insurance cost?

Cover can start from as little as £10 per month!

Your monthly payment (also known as a ‘premium’) will vary depending on the type of policy, size of cover, age, health and risk of a claim – such as if you had a dangerous job.

Are life insurance premiums fixed?

Family and mortgage life insurance policies typically have guaranteed fixed premiums throughout the policy term, meaning that you will never pay a higher premium for the pre agreed amount of cover and duration.

Can I insure my partner?

Many couples take out joint life insurance policies, due to the convenience and in order to save money, since it is normally cheaper than taking two separate policies out for each individual.

However, joint life insurance usually only pays out once, at the first death, leaving the surviving partner without insurance.

Can the policy pay out a regular income rather than a lump sum payment?

An alternative to a lump sum payment is a family income benefit, whereby your loved ones will receive a regular income (like a salary) after your death.

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That’s Life is a registered Trading Name of Candid Insurance Services Ltd. Candid Insurance Services Ltd is registered in England and Wales, company number 07279489. Registered Office: 920 Hempton Court, Aztec West, West Almondsbury, Bristol, BS32 4SR, United Kingdom. Candid Insurance Services Ltd is Authorised and Regulated by the Financial Conduct Authority and is entered on the Financial Services Register under number 603273. Licensed by the Information Commissioners Office Registration Number Z3488836. VAT: 160484711.