What type of life Insurance policy do I need?
Choosing the right life insurance policy requires time and knowledge. Otherwise you could end up with a policy that is not suitable for your short, medium and long term needs. Worse still, you could be refused a policy due to life style or health problems or buy a policy which may not pay out. This can happen if you make a mistake when applying for your policy. Making such a mistake can be very costly and stressful for you, your family or business partners.
Knowledge is power – get the best advice from Blueberry
At Blueberry, we have the expertise to help you make the right decision by giving you the knowledge you need. Our highly qualified and experienced life insurance Consultants will help you work out the best type of policy for you and tailor it to your needs and pocket.
We will begin by getting a full understanding of what you want to achieve. It’s important to help you understand how much cover you need, what types of policy are available, which options are best to meet your needs and what premium is affordable for you right now. It’s also important to help you consider how your circumstances can change in the future. Because we are a whole of market broker, we can look at every type of life insurance policy from all available life insurance companies in the UK. We will have a constructive discussion to give you the knowledge you need in plain English.
We can even find a specialist company for you if you have health problems, have a high-risk job or have a hazardous leisure activities.
Call for a free consultation with one of our highly qualified life insurance protection Consultants.
Applying for your cover is really important
Once you have decided on the policy you need, we will take you through the whole application process. There will be a series of detailed medical questions to make sure the insurance company is prepared to accept your risk. If you are in good health, you can be covered immediately.
If you are taking medication or have a medical history, our Consultants are trained to help you define your medical conditions and treatment accurately and openly for the insurer. Our Consultants also know which insurers are most competitive and able to cover certain medical conditions.
We pride ourselves on getting it right first time. Getting it wrong could mean a life insurance claim being rejected leaving your next of kin or business partners being severely disadvantaged following your death.
Who do you want to benefit from your policy? Put your policy in trust.
You may be surprised to learn that the people you want to benefit from your policy may not receive what they expect? You may also change your mind on who you want to benefit for your life insurance policy in the future.Although the benefits of life insurance are tax free, when added to the value of your property and savings, part of your estate could become liable to Inheritance tax of 40%. Blueberry can help you and your family by putting your policy in trust.
Here are some case studies to show how we have helped some of our clients
Situation – Mr & Mrs A were going through the process of moving home. We were arranging their remortgage and they had some life insurance in place and thought they were sufficiently covered. Little did they know that because this cover was for the original mortgage and the cover was decreasing, the cover would never be enough to cover their new home. They have bought a bigger home and increased their mortgage and term. They have also had 2 children since taking out their existing cover.
Discussions - After they had a conversation with one of Blueberry’s Protection Consultants they understood that their current cover was insufficient and they now have other needs (the 2 children) which they would want to protect too.
Our consultant explained their recommendation and tailored their advice to the needs and concerns of Mr & Mrs A.
Outcome - This is what the clients are now covered for:
Joint Mortgage protection for their new home. This would pay out if they were to pass away or become critically ill. They also wanted to protect their family on top of the mortgage and both took out a Family Income Benefit policy. This type of insurance pays out if someone passes away. It provides the family with a monthly or annual income to give them long term financial security. Mr & Mrs A did not know these policies existed and they are now very happy with the insurance they have and the peace of mind it’s given them.
Situation – Chris and Catherine are not married and have a child each from previous relationships. Chris has a mortgage on his property which is covered by mortgage protection life insurance. Chris also has some life insurance through his work employee benefits scheme. Chris wants to find a better deal for his mortgage when his fixed rate comes to an end.
Discussions – Blueberry were able to find Chris an excellent new fixed rate for the mortgage. Catherine and Chris were shocked to learn that should Chris die then Catherine may not inherit the house or any of Chris’s estate.
Outcome - Blueberry put Chris and Catherine in touch with a specialist Blueberry Consultant who arranged wills, trusts and appointed guardians for the children to protect Catherine and the children’s interests. The existing life insurance policies were also put in trust and an additional family income benefit policies were put in place for Chris and Catherine to ensure their children would have financial support if their parents die before the age of 21.