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Cover Choice life insurance

Can this insurance specialist provide the right level of life insurance for you?

Cover Choice is a UK insurance broker serving individuals and businesses. The company has negotiated with leading insurance providers to source a range of policies.

We’ve analysed what it offers to tell you what you need to know.

Who is Cover Choice?

As a broker, Cover Choice sources policies from insurers. It offers a comparison service online that’s backed up by call centre-based advisors who can help you understand the policies. Cover Choice can also visit clients at their home or business.

Policies start from £5 a month.

Cover Choice is the trading name of Sort Me My Financial Services Ltd.

What are Cover Choice’s cover options?

Cover Choice has a range of life insurance policies from different providers. Each has a different set of features.

Level term life insurance is the standard life insurance type. Your premiums and policy will stay the same throughout your policy term, and won’t change with inflation.The policy is usually over a fixed period of time, and pays out a lump sum in the event of your death. The lump sum is intended for your family to live off or to use to pay off large debts, making it a popular policy type for those with a mortgage.
Mortgage life insurance is also known as “Decreasing term insurance”, and is a type of term life insurance that provides a policy payout at a predetermined decreasing rate. Premiums are typically constant throughout the contract, and the payout is typically reduced either each month or each year.The idea is that the need for high levels of insurance decreases with age, so the payout is pegged to the remaining mortgage of the insured person’s home. This type of life insurance is not usually advisable for someone who has no other life insurance policies.
This type covers two people. It typically pays out the policy amount when the first person of the two dies.Joint life insurance is a popular option for those where the death of the other would drastically impact their lifestyle – for example, a family with children. This type of policy is generally cheaper than taking out two separate policies.
Over-50s life insurance is a way of ensuring that, once you hit age 50, your loved ones are left with a fixed cash sum in the event of your death.Over-50s plans are generally guaranteed, and there aren’t any medical questions to answer. These plans are usually for life.
Whole-of-life cover, as the name suggests, is a policy which spans the rest of your life. You pay a premium each month, and, when you die, the policy pays out a lump sum to your loved ones.This type of policy can be set up either individually or jointly, and you can add extras such as critical illness cover during your discussion with your insurance advisor. Some people choose to run a whole-of-life policy alongside another policy, such as level term or mortgage insurance.
Critical illness cover will provide a payout for your family in the event of a serious illness. The payout is either in a lump sum or in regular instalments.Although critical illness cover can be taken out as a policy in its own right, it is often taken out in conjunction with another policy, such as level term insurance or family income benefit.
Family income benefit policies are designed to replace the loss of income your family would face in event of your death. The policy would give your family a regular (usually monthly) set of payments, rather than paying out a lump sum.The policy can be taken out for 1-40 years, and is influenced by medical history and age. This is generally an alternative for those who feel like a lump sum payout could be wasted or mis-spent.

Frequently asked questions

*Disclaimer: Please take reasonable care to answer all the questions honestly and to the best of your knowledge. If you do not answer the questions correctly, your policy may be cancelled, or your claim rejected or not fully paid.The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms ‘Best’, ‘Top’, ‘Cheap’ including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
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