Compare Engage Mutual Life Insurance
Search over 500 plans to find the best life insurance quote to suit your circumstances.
It is important to compare life insurance quotes from lots of different companies, as some life insurance companies are much more expensive than others, for exactly the same life insurance policy. That could cost you £1000's.
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About Engage Mutual Life Insurance Cover
The engage Mutual Life Assurance is the trading arm of the UK-based HFSL (Homeowners Friendly Society Limited) authorized by the Financial Services Authority to provide insurance services, Savings and investment banking, trust fund management for children and healthcare coverage for the family. Engage Mutual market focus is on the family with a recently launched online financing service.
Engage Mutual Life Insurance Products The engage Mutual Life Assurance provides the following insurance services: Over 50s Whole of Life Cover Plan: Provides insurance coverage for elder UK residents in the event of death or terminal illness diagnosis within the term of the policy plan or for life if the policy holder reaches the age of 90.
Engage Mutual Funeral Funding Option: Provides funeral arrangement services in partnership with the Co-operative Funeral Care, UK’s largest funeral service provider. This is an optional feature you can add at no extra cost to its Over 50s Cover Plan. You can arrange for direct payment to the funeral director if the Over 50s plan can cover the entire funeral bill, otherwise, your beneficiaries will need to cover the balance.
If you are a UK resident between the ages from 50 up to 80, you are guaranteed acceptance with no medical examination requirement for a live cover plan. The cost of cover hinges on your choice of plan which also depends on your age and personal circumstance. If you are qualified, you can opt to get the lowest premium for just 27p a day or £8 per month on the Over 50s Life Cover. Online insurance quote can be obtained in a matter of minutes. You get a 5% discount when you apply online. Most online application gets instant cover with no medical requirement.
Engage Mutual Insurance Benefits The maximum payout under this cover is £5,000 which is the restriction under the Friendly Societies Act of 1992, regardless of how many beneficiaries are nominated in the policy.
If you die after the first 2 years, you get the whole amount on your policy. If you die within the first 2 years, the cover pays you 150% of the all premiums paid until date of death. But if death is caused by an accident, the payout is three times the sum assured not exceeding £32,000. You get Whole of Life insurance where your cover lasts a lifetime for as long as you pay the premium. Upon reaching age 90, you stop paying the premium and the cover remains in effect until your death. Engage Mutual Over 50s Live Cover payouts are guaranteed tax-free.
Term Life Insurance
Term life insurance or assurance is the cheapest and simplest form of life insurance. It covers you for a fixed period (known as the "term" which you can choose) and pays out a one off lump sum which you can select, if you die during the policy term.
You can add critical illness cover to some insurance plans, which will pay out on the diagnosis of a qualifying critical illness or if you die during the term of the policy. You are covered for as long as you pay the monthly premiums. If you stop paying the premiums, the policy stops. Premiums depend on a number of factors including the amount of lump sum chosen, the length of term, the applicants age, gender, and if you are a smoker.
There are two popular types of term insurance:
Type One - Level Term Life Insurance - Lump Sum Remains Fixed
Level term life insurance pays out a lump sum on the event of death during the selected term. The lump sum remains constant throughout the period of the life insurance term.
Type Two - Decreasing Term Life Insurance - Covers Mortgage Balance
Decreasing term life insurance which is also known as mortgage life insurance covers you for a set term and pays out a lump sum if you die during the policy term. Unlike level term insurance where the lump sum remains fixed, with this plan the amount of cover decreases over the term of the policy in line with the amount outstanding on a repayment mortgage. Although the lump sum decreases over the term with this type of cover the premiums remain the same.
It's a fact that life insurance cover is harder to come by the older you get. You may think you've left it too late, or it's too early to buy life insurance - that's where we can help.
We will search the UK life insurance market to find you the best life cover to suit your circumstances.
Many people don't have this simple, reassuring protection. Life insurance could be an ideal way to leave some money behind - for your partner, family or friends or to help towards funeral expenses, or outstanding bills.
Could your family afford to pay for your funeral?
None of us like to think about our funeral but taking the time now could help your family at a very difficult time. Most people underestimate the cost of a funeral and so you may be surprised just how much it can be.
Research has shown that the average cost of a basic funeral in the UK is £2,700 and is on the increase. When selecting life insurance cover it is important to make allowances for the increase in the cost of living as the amount you select now will not be worth as much in the future.
Why not take 2 minutes to complete the short form on this page to see how we can help you!