The right way to buy Life Insurance

Let's look at the numbers.

The real purpose of having the Life Insurance is to create a large sum of money when you need it the most. The money needs to be available. So in exchange for a monthly payment you are buying a much greater amount of money as insurance.

Here’s an example…

You want to secure your family £200,000 through Life Insurance until your children are financially independent. You are 25 years old, a non-smoker and your youngest child is 2.

You could consider having life insurance for 23 years.

To actually build a pot of money that reached £200,000 after 23 years, you would need to save £725 each month. You would need to save £1,667 a month to reach £200,000 after 10 years.

Alternatively, you could pay £6 per month to secure £200,000 from Life Insurance. Remember, with Life Insurance if you don’t claim (die or get a terminal illness) you don’t actually have £200,000 at the end of your insurance policy. But you do have a pay-out should the worst happen at any time during the policy term.

So, if you cannot afford to save £725 or more per month to build a pot of £200,000, then paying £6 per month for Life Insurance is an alternative way to provide financial back-up.

Life Insurance is generally cheaper when you are younger.

At Money For Them we guarantee never to increase your monthly payments. So the longer you leave it to buy Life Insurance the more it will cost you.

There are 2 reasons for not paying a claim:

You did not provide full, honest and accurate answers to the questions we ask you in the application process

You die in the 1st year because of suicide, intentional and serious self-injury or an event where you took your own life

According to the Association of British Insurers, in 2019 Life Protection paid out for 98.3% of claims*.

* https://www.abi.org.uk/news/news-articles/2020/05/record-98.3-of-protection-claims-paid-out-in-2019/

Absolutely not with Life Insurance from Money For Them.

Once you buy, your price and terms will not change.

Our online application has been designed to take less than 10 mins to complete.

We do need to ask you questions. It is important we get this right.

You will get an instant decision online.

Our online products require no medical exam.

Life Insurance is for anybody who has people dependent on him or her financially, who do not have sufficiently large assets or savings to leave them, regardless of whether they consider themselves “rich” or not. Do you want your family to continue with their current lifestyle? Do you want to avoid leaving your children with debts such as a mortgage, credit card bills or loans? If yes, then you should seriously consider Life Insurance.

We will ask you some questions about Covid-19 in our online application.

Assuming you are truthful during the application, if you catch COVID-19 later and die, your insurance will pay out.