Learning More about Bupa Life Insurance

It is a fact of life that no one lives forever. In more ways than one, you would need to make sure those you leave behind don’t suffer financially from your untimely passing. Making arrangements to have life insurance coverage is probably the best step you can take to limit the negative impact of your passing. With Bupa life insurance, you will be helping your loved one move on comfortably in a financially secure manner.

Besides death itself, there are also other factors that could disrupt an otherwise idyllic life. Sudden illnesses whether critical or terminal could cause catastrophic repercussions on both you and your loved ones and without proper insurance coverage, recovery may not be quite as easy as expected. It is even more important to have insurance coverage, if you are the sole bread winner in your family and everyone is completely dependent on your ability to keep them financially secure.

Taking up a Bupa life insurance

The actual process of signing up for a life policy is neither complicated nor lengthy. All it takes is for you to understand what the policy covers and then make the decision to sign up. There is always a team of professionals to help you understand and choose the insurance package most suited to your needs.

In many cases, you will be able to enjoy as much as 35% of saving when you sign up for a Bupa life insurance by getting quotes online. With a small monthly premium, of only about £10 if you are a male non-smoker, you will be able to enjoy £180 000 coverage over a period of 25 years for example.

Whole of life insurance – rather than a fixed term, this insurance policy will run for as long as you live. This will allow your loved one to make a claim upon your death, no matter the circumstances. As death in life is a certainty, this also means your love ones will definitely receive a payout upon your passing. The monthly premiums paid are similar to you investing in a life fund.

Level term insurance – this is a cheaper option as its coverage varies a little and is not as comprehensive as the above mentioned plan. Nonetheless with this type of insurance plan you will still be able to protect your family. The coverage may also include paying off an interest only mortgage.

Critical Illness Insurance – here you will be able to enjoy a lump sum, tax free amount of money to help you cover you medical bills and living conditions, especially if you are not able to function independently. There is also an allowance made towards payment for loss on income because of the severity of the illness. This type of insurance is very important if you are the sole financial provider for your loved ones.

Mortgage decreasing term assurance – this type of insurance is commonly a prerequisite when signing on a mortgage with any financial institution. The eventual pay out should ideally decrease over time as you service your usual monthly mortgage payments, thus leaving a smaller amount over time. With untimely deaths, this will help to ensure the property is not completely lost and the insurance settles the outstanding balance.

Mortgage level term assurance – upon your untimely death, this insurance will completely pay off any outstanding mortgage on your property. This policy allows you to dictate the period you would like it run. It also allows for critical illness benefits to be added to the policy. In this way, claims can be made either upon your death or when a critical illness has been diagnosed. All this is done with only a small addition to the original premium fees.

Over 50’s life insurance – this policy is the ideal way to plan for your future retirement. Besides providing a cash lump sum for your loved ones upon death, there is also help in other areas too. This would include clearing outstanding mortgages and debts. Funeral expenses are also coved under this insurance plan, thus easing any further financial burden on loved ones left behind. There are no medical examinations to go through and anyone between the ages of 50 – 80 who is a UK resident automatically qualifies to take up this insurance.

Therefore in order to ensure you are well covered for eventual calamities, Bupa life insurance should be your first choice toward security.