Affordable Life Insurance in the UK

The Best Affordable Life Insurance in the UK

Term Life insurance, who needs it?

Here in the UK, we face one of the highest costs of living in Europe. We pay more for housing and goods than another EU member state. British citizens also lead the EU in the amount of debts they have and the figure rises daily. The UK has become very similar to our cousin across the pond, that being the USA. We have a great standard of living but now are dependent on the 2 person income to afford all of those luxuries of life. If you or you spouse were to die or become seriously disabled, could one cope with all of the financial burdens on their own. The likelihood is no.

What do I do?

Term life insurance is needed. In the UK you are spoiled for choice in companies offering you cover. Most of our high street banks offer 25-30 year policy most of which are less than 10£ per month. Another source is the supermarket chains. Both Tescos and Sainsbury’s both offer similar term life policies for shockingly low rates.

What kind of coverage do these provide?

These are generally term life cover policies. If you or your partner dies within the term then the beneficiary receives the pay out. With these policies, if you survive the term then you get nothing. There are whole of life insurance policies available that to pay out at the end if you survive. However, they are more expensive and you should consult and agent before purchasing.

Conclusion

The UK is expensive but affordable term life cover is still possible. Have a look at the high street and supermarket banks. You’ll be surprised at what they can offer you.