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Protection

There are different types of life insurance available and what you require will depend on your personal circumstances and needs.

Insurance brokers have access to a range of products which you may not be able to access directly.  Discuss your requirements with us and we will give you our honest opinion on which option is better for you.

Key Life Financial Services do not charge for advice and we get paid by the service providers when the policy has started.

All insurance brokers work differently and you would have to check what their charges are.  We are independent insurance broker. Some insurers themselves may have individual charges that apply for adjustments, cancellations, missed direct debits and it is important to read the terms and conditions from the outset.

The only insurance you will need to purchase when getting a mortgage is usually buildings insurance. Mortgage lenders will require buildings insurance to be in place at the least and this is to protect the security (property) they are lending against.  In short, buildings insurance covers your home against any damage that may need to be repaired or even a full rebuild in the event of a fire amongst a list of perils the buildings insurance will cover against.

Paying a little extra for Waiver of Premium on top of your usual life insurance premium means that if you are unable to work due to an accident or illness, your premiums will be paid by the Insurer for a set period.

For most people, if you have less income than usual, one of the first things to cancel or miss payments on is your life covers.

However, your life cover will simply end if you miss payments, so Waiver of Premium would be helpful to have.

If you have appropriate life insurance, this will make sure that your mortgage is paid off when you die. If you die without life insurance, then your family, or those managing your estate, may be forced to sell the property to pay back the debt to the mortgage lender.

When an application is submitted, it is assessed by the medical underwriters. They will confirm if further information is required to make a decision.

The insurer may require you to undertake a medical screening where a nurse will take blood/urine samples or a medical report may be requested from your GP.

Once all tests and necessary information have been reviewed, the underwriter will confirm if your application will be accepted or if the premiums will be increased.

Yes. Some providers do offer cover. It will depend on the number of accidents you have had, how often you take part in the activity, and the height you climb.

Contact us, and we will source the best provider for you.

This is a premium which allows the Insurer not to pay a premium during a period of disability depending on the length of time.  The insurance company will waive the payments for you after you have been disabled for a minimum of six months.

Yes, you can.  Contact us so we can go through your individual circumstances and find the product best suited for you.

This is an insurance policy that will pay out to your beneficiaries whenever you die, at whatever age.

If you cannot afford to cover your full mortgage balance, it is worth getting a policy with a lower payout. It is better than not having anything in place. As with all health-related insurances, pre-existing conditions will not be covered.

You can qualify for a life insurance policy even if you already have pre-existing health problems.  You need to complete a medical questionnaire, and the providers will give you an indicative decision.

Pre-existing conditions that you have before taking out the plans will not be treated on a new plan.

Private Medical Insurance is there to provide quicker access to treatment for acute medical conditions. The appointments will be often quicker and therefore if you have an underlying condition, this may be diagnosed quickly.

You may also have quicker access to various hospitals, consultants and treatment that may be difficult with the often long NHS waiting lists.

Many consumers have struggled to claim on policies such as wedding and travel insurance as a result of the Covid 19 pandemic, no similar issues have been reported in the life insurance industry. 

In fact, data from the Association of British Insurers (ABI) shows that during the height of the COVID-19 crisis, insurers received 7,000 life insurance claims and paid out £90 million – the equivalent of £980,000 every day – to support the families of those who died due to coronavirus.

The age is 18 to buy a plan, the maximum age is the day before 60th birthday to buy a plan.

Life insurance policies is always cheaper in annual premiums the younger you are when you buy the policy. Also if your health is good it will also translates to lower insurance costs and buying a policy younger also lowers the chances of having an illness like diabetes or heart disease.

Some conditions are genetic and can run in families, e.g. diabetes or certain cancers. If the insurer deems you a high risk for the condition they may request a medical screening or they may add on exclusions or raise the monthly premium.

It’s very important that you are sure about the family member, the exact name of the condition and when they were diagnosed, otherwise you may have an incorrect outcome to your application.

As with any insurance policy, if you do not disclose all information required, you may not receive a payout.

If you have decided to take out life insurance plan to provide a lump sum or a regular income to your loved ones when you die, there is usually no income or capital gains tax to pay on the proceeds of the policy.