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What is life insurance?

Understanding what life insurance is

Some people think life insurance can be a complicated subject, but boiled down to its basics it’s actually very simple. You spend a certain amount of money either monthly, annually or as a one-off payment, and in return your life is covered by a policy that pays cash to your loved ones if you die.


If your life is insured, you can take comfort from the fact that your family will find it easier to cope with a one-off lump sum payment. That money can be used to pay off debts, to clear a mortgage, to spend on a lavish funeral or just about anything else. In effect, this is peace of mind for you and for them.


How much you spend on your policy will depend on how much you can afford, of course, but the value of your required payout will be higher if you spend more and lower if you spend less. There are variations that can apply, such as decreasing term life insurance and joint life insurance, but the principles are basically the same.

Policies that match your individual circumstances

Not every form of cover will cost the same for everyone. Your premiums will depend on your age, your current health, your medical history and whether you’re a smoker. As always, Insured Right can talk you through the variables and how they are likely to affect you and your policy options.


For your family, having a life insurance payout will help to keep the bills paid and will provide money for the future. In many cases, both partners in a relationship will be covered, although of course if you just want one to be protected that can be arranged without a problem.


There are a number of types of life insurance on the market, so it’s a good idea to do a little research in order to find what best suits your personal needs. Policies for parents and for single parents are a good idea if you have young children and you want to know they are going to be protected financially.


To find out more about life insurance and the policies that could be ideal for you, call our team on 01382 279 087. We have the experience and the knowledge to explain the options, and can find you the right cover at a price you can afford. We hope you’ll call soon.

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