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Sainsbury’s Life Insurance

SainsburysOne of the largest retailers in the UK is Sainsbury’s. Sainsbury’s not only produces and distributes food and other goods, but they also sell a number of other consumer products in their stores including things like sporting goods, electronics, appliances, toys and even clothing. The financial expertise that comes along with such a powerhouse retailer is put to good use in the area of Sainsbury’s Life Insurance. Backed by Legal and General Assurance Society Ltd, Sainsbury offers a number of interesting, useful and competitive life insurance products.

There are, essentially, two distinct options available to Sainsbury’s Life Insurance customers. The first is level term life insurance, and the second is decreasing term life insurance (often called mortgage life insurance).

Level Term Insurance

Level Term life insurance from Sainsbury’s Life Insurance is what you imagine of first when you think of life insurance. It’s life insurance that provides you with the peace of mind that your family will be taken care of, financially, in the event that something bad happens and you pass away before they’re able to provide for themselves. Level term insurance pays out a fixed payout in the event that you die. That amount doesn’t change through the life of the policy. Whether you’re in the third year of the policy or the thirtieth, the amount of the payout is the same. Accordingly, the premium rates for level term life insurance typically don’t change over time, either.

Decreasing Term Insurance

The idea behind decreasing term insurance is similar to that of level term insurance. You want to be able to continue to provide for your family after you pass away. This insurance is aimed not at a general financial well-being, however. It’s specifically aimed at making sure your family has somewhere to live when you die. The amount of the insurance is equal to the amount you owe on your mortgage. If you pass away, the insurance will pay the mortgage off and allow your family to live in the home. In addition, the amount of cover will decrease from year to year as the amount you owe on the home loan decreases. Because of the decreasing amounts of cover, the premiums on this type of insurance will go down, as well. How to find the Best Life Insurance Deal Buying life insurance is a complicated. Your family’s or dependants future depends on the life cover if something happens to you. Therefore you need to research and compare the market before you buy. Cheap life cover does not mean that it is also the best value cover. You carefully need to assess the benefits of the cover that you are buying. We specialise in life insurance and search the market to help you find the right cover at the best price available. Get a No Obligation Quote Today!

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