Before taking out Directline.com life insurance decide what do you require the life cover for?
- Security for your family/partner
- Required for your mortgage
There are other considerations which you should then take into account:
- How much is your mortgage?
- What type of mortgage do you have?
- What are your general family living expenses?
- For how long will your children be dependent on your income and what education commitments might you be required to meet?
- If you have other savings what might it earn for family income?
- You should also allow for a reasonable rate of inflation as life cover is generally a long term purchase.
It really is up to you, you should consider what income would be required should you die to keep your dependents in the same lifestyle and standard of living as they have now. Also note this will not just be for one year, but possibly a number of years, especially if your children are young.
Most people require life assurance at some stage during their life, to protect family or dependants and ensure there are funds available to repay any outstanding loans or the mortgage, etc.
Most people think that premature death will not happen to them but regrettably on occasions it does. It is only prudent therefore to consider our own situation in terms of how your family or dependants would survive in such a situation, and if appropriate, make arrangements for funds to be available. This can be particularly relevant where there are young children, a non-working partner or outstanding mortgage and loans.
Directline.com life cover provides protection in the event of death within a specified period through payment of a lump sum. Directline.com can also provide life insurance with critical illness cover. There is no savings or investment element, so if you survive to the end of the policy term there is no cash back and the policy ends.
Fixed Term Life CoverThis is a very simple basic protection policy that will ensure that a specified amount of money is paid out if death occurs or a terminal illness is diagnosed within a specific period. It really is as simple as that - no bells, whistles or complications, just simple basic protection. As the name implies, the amount of life cover remains fixed throughout the policy term and even if death were to occur on the last day of the policy, the full amount would be paid out.
General Policy Information- Minimum age to take out a policy is 18 next birthday
- Maximum age to start a policy is 65 next birthday
- Minimum term is 5 years
- Maximum period of cover is up to age 70 next birthday
- Minimum sum assured
- -up to age 40 - £30,000
- -over age 40 - £20,000
- Maximum sum assured - £2 million
- The premium is fixed at the outset and remains exactly the same throughout the policy term
- Pay out in the event of death or on diagnosis of a terminal illness (not to be confused with critical illness)
- Can be written in trust if required
- Can be taken out on a single life or joint life first death basis
- Premium payment is by monthly direct debit only
- Once guaranteed terms have been offered, confirmation can be faxed to your solicitor or lender if a mortgage is involved
- There is no surrender value or cash-back at the end of the policy term - it merely expires
In some instances Directline.com may require a simple medical report or simple medical examination. However, they try to make that as convenient and as easy for you by arranging appointments to suit you at your convenience. In most cases this can even be carried out within the comfort of your own home. Further, should you require such a medical, free accidental death cover will be put in place for you in order to allow the time for the medical process to be carried out.
Additional information can be found on the Directline.com Life Insurance website.
(See the links above)
Direct Line Life Insurance
