The Christmas present that keeps on giving

Every year, we all rush around looking for the perfect gifts for our families and friends. But what if one of the best gifts you could get your loved ones this festive period wasn’t something you can hold or touch?

What is life insurance?

Life insurance is like any other type of insurance, in the sense that you pay a premium each month to keep your cover in place. But unlike your car insurance or home insurance, with a life insurance policy, you’re insuring yourself.

If the worst were to happen to you, your life insurance policy could pay-out a lump sum which can be used by your loved ones to ensure they can financially stay afloat during a tough time.

How can life insurance help your family?

There are countless benefits to having a life insurance policy in place. But without a doubt, one of the biggest benefits is the peace of mind it could give your loved ones.

Alongside the peace of mind that you’ll get from having life insurance in place, the pay-out from your cover could also help your family:

• Pay off any outstanding debts you may have
• Make the rental payments until tenancy ends
• Pay the remaining balance on your mortgage
• Pay the bills
• Keep up with payments for essentials like food shopping, childcare and petrol
• Put some money aside for emergencies

There are multiple ways that you could use the lump sum, once you have received the pay-out from the policy, the money is yours to use as you want/need.

Is life insurance the best gift of them all?

Instead of the latest gadgets, clothes and toys, why not treat your loved ones to something that could change their lives and benefit them in the long run?

No amount of money can ever replace the loved one you lost, however, the pay-out from a life insurance policy could certainly help make things easier. The tax-free lump sum that your cover could pay-out can help cover the costs of whatever your loved ones need to get by.

Freebies with your cover?

Over the years, life insurance providers have evolved and so many of the UK’s leading life insurance providers now offer additional benefits included with your cover for free.

We aren’t talking about a 10% off code for a random website you don’t really use or a free subscription to something you don’t really need, we mean real benefits that could actually make an impact on yours and your families lives.

Some of the top names in life insurance such as AIG, Royal London, Aviva, Legal and General and Scottish Widows include some pretty impressive extras with their cover. These free benefits* differ depending on which provider you’re with but some include the following and more:

• 24/7 access to free UK-based GP appointments (online or by phone)
• Tailored fitness and nutrition plans
• Free mental health support and counselling sessions
• Second medical opinions
• Personal nurses who can help you in different ways, depending on your circumstances
• Therapy and/or counselling

Most of the time, these free benefits can not only be used by the person who took the policy out (policyholder) but also extend to your loved ones too, including your children.

If you don’t already have a policy in place - Busy Bee is here to help. We listen to your needs and wants and provide tailored advice, unique to you and your circumstances. Once we know a bit more about you, we can recommend the cover that is best suited to you and your loved ones.

The choice is yours

There’s no one size fits all with a life insurance policy and there’s also not just one type of life insurance. Aside from the classic level life insurance policy, AKA the type of cover that could pay out a lump sum if the policy holder were to pass away, there are so many other types of life insurance policies out there. Our favourite policies are:

• Income protection. This is the type of life insurance that protects what you earn and can cover up to 50-70% of your monthly wage. If you were to become ill or injured and weren’t able to work as normal, then your income protection policy could pay-out each month and as a result, acts as a replacement for your income.
  
  
• Critical illness cover is a type of life insurance that will cover you specifically for critical illness. So put simply, if you were to be diagnosed with a critical illness (as specified within your policy conditions) then your cover can pay-out a lump sum which you can use whilst you’re alive.
  
  
• Mortgage protection. There’s a clue in the name but this type of life insurance can cover the entire remaining balance on your interest-only or repayment mortgage. With this policy in place, if the worst were to happen to you, your loved ones wouldn’t be burdened with the (potentially large) remaining balance on your mortgage.
  
  

Please don’t wait

With a life insurance policy in place, you can rest assured knowing that your loved ones would be financially looked after, if the worst were to happen.

Life insurance isn’t just for you, it’s for your family too. If you want to ensure that your loved ones could get by without you if the worst were to happen. Click below to start your free life insurance quote today.

*Benefits listed are not contractual and may be amended or withdrawn in future.