Author: nicola dunger

We understand the world of insurance is full of terminology we don’t use in everyday conversation; it can be confusing so we have put together a jargon buster so you can be sure you are in the know when taking out your life insurance policy.

Cover amount – this is the total amount that would be paid out if a claim is made.

Sum assured – this is another term for cover amount and means the same.

Term – this means the period of time in years that the policy lasts for.

Level – this is a type of cover, it means the payout and cover stays the same throughout the amount of time you are insured for. Put simply, you decide the amount of cover to take out and that’s what the policy pays.

Increasing – this is another type of cover, as the name suggests, the payout and premiums increase annually for the duration that the policy runs.

Decreasing – this is another type of cover, as the name suggests, the cover amount decreases each year to pay off an outstanding repayment mortgage or loan by the end of the term because your debt should be decreasing as you repay it over time. 

Plan – this is another term for policy or cover.

Lives insured – this means the person, or persons if it’s a joint policy, who are covered by the policy.

Plan owner(s) – this means the person or persons who own and are …

We’ve all been spending more time at home than normal recently and have had to adapt to a new normal. A lot of us have started working from home and spending a lot of time online, whether that’s ordering supplies or keeping in contact with loved ones. The online world has been vital in helping us feel connected during a challenging time.

Many industries have had to adapt quickly during the pandemic to protect both their customers and employees. The financial protection industry is no different with life insurance traditionally being sold by advisers over the phone, or face to face.

We understand sometimes you just need to speak to someone and talking to a financial adviser can help you understand which policy best meets your needs, but this isn’t necessarily the case for everyone. Cignpost Life is available through some trusted advisers, but it can also be purchased directly through our website entirely online.

Having our policies available to buy online means we are always able to offer financial protection, regardless of the current coronavirus related restrictions. Not only that but you can purchase whenever suits you, our website is available 24/7.

The Coronavirus pandemic has made us all take stock of what is important.

If the Coronavirus pandemic has taught us anything it’s that life is unpredictable and any of us can be affected by health concerns at any point. It has highlighted the need for financial protection, to ensure that our loved ones are financially …

Life is unpredictable, and it’s difficult to prepare for the unpredictable. We’ve learned that the hard way with the current pandemic of the Coronavirus (COVID-19) and the impact it has had on everyday life. It has highlighted just how quickly life changes and how important it is to make sure our loved ones are protected should the worst happen.

Financial protection is a simple way to make sure, if you pass away, your loved ones will be financially covered and able to continue to maintain their lifestyle.

There are different kinds of financial protection, designed to help protect against a range of scenarios. Not every cover type suits everyone, and it’s important to understand the features of each option. We are here to help you understand the different types of financial protection available.

Term life insurance – This provides cover for a set length of time (known as the term). You choose the amount of time you want cover for and if you pass away during the length of the policy, your beneficiary will receive a lump sum. For example, if you have a 20-year term, you are protected for 20 years.

You could decide to align this term with your mortgage or until your children have finished education or left home. To find out more about term life insurance click here.

Critical illness cover – This provides cover if you are diagnosed with a critical illness. Like with term life insurance, this cover is for a set length …

The term “insurance” is common in today’s world, we insure our cars, our tech, and our holidays but most of us forget to insure the most important thing, ourselves.

Life insurance, in its simplest terms, pays out a lump sum when the person insured dies. How life insurance is different from other insurances is that the lump sum gets paid to a beneficiary, this is usually a family member or friend.

Some life insurance policies come with additional benefits or have optional paid add-on benefits. A common benefit is terminal illness cover. This means if the person insured is diagnosed with a terminal illness, the policy may pay out sooner. Cignpost Life policies include terminal illness as standard with no extra cost. You can find out more about our cover by clicking here.

What is the benefit of life insurance?

If you have loved ones who depend on you financially, life insurance can not only provide them financial security but it can give you peace of mind knowing that should you die, they can maintain their lifestyle.

Life insurance pay-outs can be used for a range of things and depend a lot on your circumstances. People generally use pay-outs to;

• Pay off mortgages
• Cover the costs of raising children
• Cover monthly bills including rent
• Pay for a funeral

You can get life insurance today with Cignpost Life from as little as £5 per month.

Cignpost Life cover starts from £5 a month but will depend on …