What is Life Cover?
Life Insurance is an insurance policy that can help protect your loved ones from the financial impact of your death. If you’re diagnosed with a terminal illness, or if you die, it could pay out a significant cash lump-sum.
This lump-sum can be paid your loved ones during the length of the policy, helping them tackle the financial burden of your passing.
Whether or not you need life insurance will depend on your unique personal situation. Life insurance can provide peace of mind for people with children, spouses, or partners that financially depend on them. It can cover situations such as outstanding mortgages or everyday living expenses for your loved ones.
121 Financial Advice can help you navigate the products and services life insurance companies provide. We’ll give you independent, expert financial advice to ensure you make the best choice.
How does life cover work?
Generally, you choose the amount of cover you need and how long you need it. You can take out life insurance for either an individual or a joint partnership. You can choose to pay your premiums annually or monthly. We can help tailor your policy to whatever works best for your situation.
Life insurance could pay out a cash lump sum if you die or are diagnosed with a terminal illness while covered by the policy. The amount of cover you choose will stay fixed unless you change your policy. We can help you decide the best arrangement for your circumstances, with our independent expert financial advisors able to guide you through every step of the process.