The AA – Life Insurance

InsuranceChoices.co.uk is an affiliate of The AA. With two different insurance options and cover from only £5 a month, there are plenty of reasons to choose The AA (www.theaa.com) for your life insurance. Because they act as a brokerage, looking at multiple quotes across the market, they are more likely to offer a low premium. Even if you got life insurance when you took out your mortgage, you’ll probably be able to find a more competitive package if you shop around. You can buy either Mortgage Protection Life Insurance or Level Term Life Insurance and can get an instant quote online.

Visit www.theaa.com

What you should know

Before taking out your policy you will receive a “key features” document, which will outline everything that you need to know. You should also make sure that you always read the terms and conditions of any policy you take out so that you know exactly what’s covered.

• You choose the amount you want to be covered for and how long you want the policy to run for.
• A lump sum will be paid out if a claim is made on a Level Term Life Insurance policy, the outstanding capital on your mortgage will be paid out if a claim is made on a Mortgage Protection Life Insurance policy.
• If you become unable to work for more than six months following an accident or illness, the insurer will take over the premium payments, until you’re assessed as fit to return to work.
• You can also add critical illness cover to either type of insurance, which means that you’ll get a payout if you’re diagnosed with one of the covered illnesses.

Anything else?

Make sure that you always read the terms and conditions of any policy. This cannot be reiterated enough. You need to know exactly what is covered in your policy.

If you have a mortgage, be aware that you’ll definitely already have life insurance so don’t just take out another one – you’ll be paying for the same thing twice. But this doesn’t mean that you should just accept the policy you got with your mortgage as you’ll be able to get a much more competitive one by shopping around.

The AA is a good place to start because they’re a brokerage, but you should still compare other providers yourself.