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What is Life Insurance?
A life insurance plan pays out a cash lump sum if the person(s) insured dies during the term of the plan. The lump sum can be used to provide financial support to your family and loved ones, who might otherwise struggle to pay the mortgage, bills and other living expenses without your income.
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What type of Policy do I need?
Our Advisers are trained and specialise in giving you no-obligation, friendly advice. Each customer is unique and therefore the type of policy required will depend on your individual circumstances, priorities, requirements and needs. Your dedicated Adviser will clearly explain why each product is being recommended which will enable you to make a fully informed decision.
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How easy is it to take out a Policy?
Very. Once you have made an informed decision and are happy to proceed then your Adviser will ask you the relevant questions over the phone in order to complete the insurer's Application Form – this will only take around 10 minutes. Once completed, we will obtain an immediate decision. Provided the insurer is able to offer you terms and you accept, then the cover can be 'activated' immediately – it's that simple! We will send you your Policy Documents within 24 hours.
If the insurer would like any further information before making a decision on your Policy then don't worry, we will do all of the leg-work to ensure this is done as quickly and simply as possible.
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How do insurers calculate the monthly premium?
Your premiums depend on several factors; your personal circumstances, for example, your age, health, sex, lifestyle, occupation and whether or not you smoke.
Also, the amount and type of cover you choose, along with how long you want the cover to last will be factored in to the premium calculation. Here at Vita Financial we work with every insurance provider in the UK, so you can be confident we will source the most competitive quote available to you.
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Is the cheapest monthly premium always the best?
Not necessarily. Your Adviser will present you with options, detailing costs, features and benefits. Affordability is obviously important to ensure that you can continue to maintain the monthly payments; however, the comprehensiveness of the cover needs to be considered as well as the cost.
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What if my circumstances change after I've taken out a Policy?
Who knows what the future will hold? Typical events that alter your circumstances may include: purchasing a property, change in mortgage balance, marriage, childbirth etc. It is important that any existing cover you have meets your current circumstances, therefore most insurance providers will allow you to change/amend the level, term or type of policy you have taken out.
Vita Financial will happily review your circumstances in the future and facilitate any necessary changes to your policy.
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Do I pay a Fee for your Services?
No. Unlike some companies and Independent Financial Advisers, we do not charge you a penny. We receive a commission from the insurer for introducing business to them. In addition to providing you with a personal service, we can often offer discounted premiums for each insurer due to volumes of business we carry out.
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Do you have a question unanswered?
We have a dedicated '
Advice' section on the website to help answer or explain any other questions you may have in relation to the types of insurance products available. If you would prefer to speak with an Adviser then we'd like to hear from you – just drop us a line.
