One of the more serious discussions that every human being will need to have is about what happens to our families after we die. This subject can be extremely upsetting because we must confront our own mortality and accept that we will not always be able to be there for our loved ones. This is where Polly life insurance comes into play.
Polly Life Insurance Company, Is a life insurance company that provides a financial protection policy that provides a lump sum of money to your loved ones if you die.
It can be a critical safety net for parents or anyone who wants to ensure that their loved ones can pay off their key workers mortgage, clear outstanding debts, pay bills, or even leave some money as a gift.
This guide will explain all of your options as well as some things to think about when comparing cheap life insurance quotes from leading UK providers.
What is Polly life insurance?
Polly life insurance was founded in 2014 to provide a safe space for mothers to find affordable life insurance. Polly’s founders founded the company because every 22 minutes, a child in the UK loses a parent on whom they rely, and more than 12% of UK mothers do not have a life insurance policy in place. Polly’s mission is to shield as many children and families as possible from the financial ramifications of a dependent’s death.
Polly life insurance matches parents with FCA-approved brokers and insurers as a free service. Polly locates affordable brokers and insurers for families to assist them in obtaining family financial protection. Since its inception in 2014, Polly has assisted over 50,000 parents in finding life insurance and protecting their families since its inception.
Why choose Polly life insurance?
The Polly offering is straightforward to use. Polly insurance connects customers with insurance providers to remove the jargon and confusion from life insurance for mothers. Polly life insurance is a completely free service, and all of the insurers and brokers it recommends are FCA-approved.
You will receive a life insurance quote quickly after completing a brief online application. After you submit the form, a Polly team member will contact you to ensure you receive an accurate quote. Before receiving a personalized quote, you will be asked to answer a few questions and confirm your medical history over the phone.
Life insurance meaning
A life insurance policy is a legal agreement between you and an insurance company. Simply put, life insurance is a way to ensure that your family or loved ones will be financially secure if the unthinkable occurs and you are no longer able to provide for them.
Purchasing a policy can provide you with peace of mind as well as much-needed financial security for your family.
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Benefit of life insurance
Life insurance is typically a contract that states that if you die or are diagnosed with a terminal illness, a sum of money will be paid out to (typically) your spouse or children. You can also have this death benefit paid to other family members (i.e. parents, siblings, etc).
At a difficult time, life insurance can assist you in dealing with the financial uncertainties that your family will most likely face after you’re gone. Mortgage payments, day-to-day living expenses, funeral costs, children’s education fees, and debts should all be considered when deciding on a suitable life insurance policy.
How to choose the best life insurance
If you know exactly what you need from a policy, buying life insurance is a fairly simple process. This is why it is critical to follow the steps outlined below in order to determine the best life insurance policy for you.
- Decide what type of life insurance suits you
- Choose how much life insurance do you need
- Decide how long you want the policy to last
- Compare life insurance policies
#1. Decide what type of life insurance suits you
There are several types of life insurance policies available, depending on your age and the type of insurance you require. Term insurance is one of the most common types of life insurance.
Term life insurance guarantees your family a predetermined lump sum of money if you die within a specified time frame.
This type of life insurance is frequently used by those who want their family to be able to cover their mortgage if they die. Because most mortgages are only for 25 years, term insurance is a good option.
Limiting the term of life insurance also means that premiums will be lower than with other policies. Get your free Polly life insurance quote here
#2. Choose how much life insurance do you need
The cost of your policy will be determined largely by how much you want your loved ones to receive when you die. To keep your life insurance costs down, only choose a final lump-sum payout that will cover what your family truly requires.
#3. Decide how long you want the policy to last
Many people decide to buy life insurance after they marry, have a child, or purchase a home. This usually entails taking out a policy for a period of 25 years or so, in order to cover the length of their existing mortgage.
The majority of term life insurance policies are for 10, 20, or 30 years. Many companies, however, offer additional 5- or 10-year renewals.
How long you want your life insurance to last is entirely dependent on your personal circumstances. It’s important to consider what’s going on in your life right now as well as what the future holds in order to determine the length of your policy.
#4. Compare life insurance policies
When you have a general idea of what you want from a life insurance policy, you can start looking for the best deal. Your age, health, lump-sum amount, and policy length will all have an impact on the cost of your monthly premiums.
Different insurers, however, may provide better deals than others. Choose well-known insurers with positive customer reviews. One of the most important factors to consider is how simple it is to claim your life insurance payout after your death. Customer feedback is likely to shed light on this.
Different insurers may provide you with different incentives to choose their life insurance policy. Make sure you choose the one that best fits your needs and budget.
Is polly life insurance good
Getting life insurance from Polly life insurance is something that every parent, partner, or person with any other type of dependent should think about. If anyone depends on your income and would struggle without you, a life insurance policy can be a low-cost way to ensure they have a financial lifeline after you die.
In the end, you don’t need life insurance, so you’ll have to decide whether the monthly cost is worthwhile for you. To assist, consider the following key points:
You don’t need life insurance if you don’t have any dependents
If you don’t want the money to go to anyone, don’t bother. Similarly, if you have dependents but they would have a little financial impact if you died, you may not need a policy. However, if paying the bills, mortgage, raising children, grocery shopping, and other responsibilities would be difficult, life insurance is a low-cost solution.
It’s best to get coverage as soon as you need it because it becomes more expensive as you get older
If you do need life insurance, it’s best to get it while you’re still young. Even though the term is typically longer, younger people typically have lower premiums and thus save more overall.
Check with your employer to see if you have any coverage, but don’t rely solely on that
If you work, you may be eligible for free “death-in-service” insurance. While you are an employee of that company, this pays out a multiple of your salary, usually around four times. Death does not have to occur at work or be related to your job, but it is not usually a good idea to rely solely on this coverage.
If you change jobs or are laid off, your next employer may not provide it. Furthermore, if you’ve had any significant health issues in the interim, you may find it costly to arrange your own coverage.
Reviews on polly life insurance
The organization has a Trustpilot review score of 4.5 stars out of 5, with 88 percent of customers rating Polly’s service as excellent.
Polly insurance contact number
Fill out the short questionnaire at www.polly.co.uk for a personalised free quote. A member of the team will contact you shortly after submitting the form to provide additional information. You can also reach the Polly team by dialing 02034 752606.
Conclusion
Polly life insurance can connect you to experts who offer other life protection products, such as critical illness cover, in addition to life insurance. Critical illness insurance can protect you and your family in the event that you become critically ill and are unable to work.
FAQs about Polly life insurance
Yes Polly life insurance is a legit organization
The average cost of a life insurance premium varies depending on the type of coverage and the insurance provider. Your premiums, like those for other types of insurance, are usually tailored to your specific situation (i.e. age and health).
It’s a reasonable question, because life insurance premiums can add up over time. With this in mind, we’ve compiled a list of compelling reasons why you should get life insurance.
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