We call it the Life Insurance Promis because our life Insurance is designed to be your ‘Promis’ to yourself and your loved ones that should the worst happen you have done what you can to help look after them even when you are not there.
If you have loved ones that are financially dependent on you the Life Insurance Promis can help to take care of them should you pass away or are diagnosed with a terminal illness during the ‘term’ period.¹ Our aim is to give you peace of mind knowing that your children, wife, husband or partner will receive the cover amount you have chosen as cash direct to their bank account – up to £500,000 (depending on your age).
Call our friendly team today on 0800 061 2174 today for a free no obligation quote
At Promis Life we try to make things easy as we know insurance can seem complicated. With the Life Insurance Promis from Promis Life, depending on your age you set a period of time from 5 to 40 years that you would like to be covered for, but your policy must end before your 81st birthday. This is known as the ‘term’ of your policy.
The next thing to decide is how much you would like as your cover amount. This is the amount that will be paid out, in one lump sum, should you pass away or be diagnosed with a terminal illness before the end of your term period. The maximum amount you can get as cover depends on your age but could be up to £500,000. We will also ask a few health, lifestyle and family medical history questions to determine the cost of premiums.
We can’t advise you what is the appropriate length of cover for you or the amount of cover you should seek. People take out this type of insurance for many reasons, such as to cover the length of a mortgage term so they know there will be money available to help reduce the risk of them losing the family home. Or, they may consider their children and base the term period on how long they will be dependent financially on their parents.
Our friendly team, who are based in the UK, can quote for different combinations of term period and cover amount to help you make a decision on what is best for you and your loved ones. It won’t take long, just a few questions. Give us a call today on 0800 061 2174.
There are two other things to think about:
1. Single or Joint cover:
Are you covering just yourself or yourself and somebody else, such as a partner? For a single life policy it will just be yourself that is covered. A joint life policy will pay out, just once, should either of you pass away or develop a terminal illness.
2. The type of cover you would like:
The Life Insurance Promis offers two types of cover; Level or Decreasing. Level cover means your cover amount and premium you pay is guaranteed not to change for the term of the policy, unless of course you make changes to the plan at a later date. Decreasing cover means that the cover amount reduces each year in line with a mortgage repayment calculation based on an 8% interest rate. This is because your debt should be decreasing as you repay it over time. The premiums you pay are guaranteed not to change unless you make changes to your plan. This type of cover is designed for example, for those that have a mortgage or loan that is expected to decrease over time. The decreasing cover amount for a mortgage or loan may not be enough to pay off all of the outstanding mortgage or loan. We recommend you keep the cover amount under review to ensure it still meets your requirements.
Important information you should read
We have a friendly team based in the UK who will be able to talk you through the Life Insurance Promis, answer any questions you might have and give you a free, no obligation quote. Call us today on 0800 061 2174 to help give you the peace of mind that your family and loved ones will have a cash payment when they may need it most.
Below are some links to two important documents that you can read for further details on The Life Insurance Promis.
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1. Terminal Illness as defined in the Terms and Conditions document that can be found on our website by clicking here.
2. Premiums depend on age, cover and individual circumstances
3. If we approve a claim and Letters of Administration or a Grant of probate is the only extra document we need, we may be able to make an advanced payment directly to a UK funeral director. The maximum payment made will be the agreed cost of the funeral, £10,000 or the claim amount, whichever is the lowest. This advanced payment will be deducted from the claim amount with the remainder of the claim amount paid once we receive the outstanding paperwork.
The Funeral Protection Promis, the Over 50s Life Insurance Promis and the Life Insurance Promis are administered and underwritten by iptiQ Life S.A. UK Branch registered in England and Wales. Registration No: BR017015. Registered Office: 30 St Mary Axe, London EC3A 8EP. iptiQ Life S.A. is a public limited company (Société Anonyme) incorporated and registered in Luxembourg. Registered Office: 2, rue Edward Steichen, L-2540 Luxembourg. Grand-Duchy of Luxembourg. R.C.S. Luxembourg B 184281. Authorised and regulated by Le Commissariat aux Assurances. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.
Promis Life © 2018. Funeral Protection Promis, Over 50s Life Insurance Promis and Life Insurance Promis are promoted by Global Life Distribution (UK) Limited trading as Promis Life, authorised and regulated by the Financial Conduct Authority number 629767. Registered office: The St Botolph Building, 138 Houndsditch, London EC3A 7AR
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