Do you have Life Insurance?

Hello everyone,

How are you doing today?

Life insurance plans in the UK provide a lump-sum payment to the beneficiaries either at the time of the policyholder’s death or after a set period. Your life insurance policy will remain in-force for as long as you meet your premium payments on time. Depending on the type of plan you choose, your coverage can end after a set term or last a lifetime.

There are two types of life insurance:

 Single life insurance policy- covers only one person and pays out the death benefit if they die during the length of the policy, at which point coverage ends. 

Joint life insurance policy- covers two lives, but only pays out after one person dies, after which coverage ends. The death benefit goes to the surviving partner, unless other arrangements were made.

What about you? Do you have any experience with life insurance? Do you have life insurance? What kind of policy? Where did you get yours from?

Let's share!

Take care,

Lizzi from the Carenity team

source: https://www.insurancebusinessmag.com/uk/guides/life-insurance-in-the-uk-a-guide-to-what-you-need-439351.aspx#:~:text=Whole%2Dof%2Dlife%20insurance%2C,those%20of%20term%20life%20plans.

Life insurance in the UK: A guide to what you need

Life insurance provides a range of benefits that gives your loved ones a financial safety net after you die. Find out what these are in this article