Find Cheap Life Insurance Rates at SoSmart Money

Simply fill in your details and we can put you in touch with an expert advisor from an FCA regulated firm to discuss your life insurance requirements in detail and the type of policy and level you need.

SoSmart Money is dedicated to helping you find the quote, which is tailored to meet yours and your family’s needs.

Do I need Life Insurance Cover?

The sooner you buy life insurance, the cheaper it will be, but it is never too late to take out a life insurance policy. If you have a family and your calculated debt is more than your spouse could afford in the event of your passing then you should seriously consider life insurance.

Life insurance will leave an agreed amount to your family in the event of your death, which may cover all outstanding debt including your mortgage and funeral costs. Life assurance can also provide the funds to pay an inheritance tax bill which could become due if the person who makes a gift dies within the following seven years. The cover life insurance can afford you will relieve some of the pressure placed on your family after your death.

Levels of life insurance coverage

There are 4 basic types of cover, although nothing is set in stone and you should ensure your policy is tailored to suit your needs.

Level term life insurance: if you pass away during the set term period your policy will pay out an agreed amount.

Level term life insurance & critical illness insurance: If you pass away or become critically ill within a set term your policy will pay out an agreed amount

Mortgage protection insurance: If you pass away your policy will pay off your mortgage at the current amount owed at time of death.

Mortgage protection insurance & critical illness insurance: If you pass away or become critically ill your policy will complete you mortgage repayments at the current amount owed at the time of death or when you became critically ill.

Life insurance myths

1 - If you are not planning to have children or get married life insurance is not for you. Beneficiaries of your policy don’t have to be limited to spouse or children, parents or your siblings can be named and in some cases you may be able to name a charity.

2 - Your policy need only to cover twice your annual salary. The amount of life insurance each person needs depends on said person’s specific situation.

3 - Only Breadwinners Need Life Insurance Coverage. The cost of replacing the services formerly provided by a deceased homemaker such as day care for children can be high and insuring against this will help future finances.