Compare Life Insurance Companies

The team at Black Lion Insurance has put together this handy at-a-glance guide to help you compare life insurance providers.

This section provides a brief overview without too much detail, but it will certainly give you the key points you may need to consider.  We cover important policy factors, useful life insurance terms and considerations when choosing the right insurance policy. However, for detailed advice, please get in touch and speak with one of our professional advisors.

Looking after YOU

Have you considered what your greatest asset is? We believe it’s you. Taking out suitable life cover will support your dependents financially if you are no longer around. While money cannot alleviate your family’s grief, it can at least provide a level of financial security for your loved ones.

The Black Lion Insurance Difference

At Black Lion Insurance, we focus on educating our customers. Our goal is to help busy, hard-working individuals like you understand risk and how to protect yourself by comparing life insurance providers effectively.

We do not sell; we listen, evaluate, and provide you with the information needed to make an informed decision.

Life Insurance Terms Made Easy

Sometimes, when you need to compare life insurance providers, the language associated with these types of insurance products can seem rather complicated.

There’s no need to worry.  Here’s our back-to-basics, jargon-free explanation of the words you’re likely to hear when considering life cover.  Also below is a list of top tips which we’ve put together to make life easier for you.

Benefit

The sum that you will be entitled to when you claim.  With life insurance, this is normally paid as a lump sum to your specified beneficiaries.

Policy holder

The person who is the owner of the life insurance policy.  In brief, that’s likely to be you.

Life assured

The insured person. Again, probably you but it may not be.  For example, you may buy a life insurance plan for your partner. But it’s you that pays for it rather than your spouse.

Premium

The amount you pay to your insurer for your life insurance.  Usually, payments are made by monthly standing order.

Sum assured

In effect, your cover.  This is the amount which your insurance provider will pay to your loved ones in the event of your death.

Nominee

The people (normally your family) who will receive the pay-out.

Indexation

Linking your cover to the retail pricing index (RPI) to work with inflation.  Often, there’s more than one option and you can choose the percentage at which you index your premiums.

Policy term

The duration for which your policy offers life insurance coverage.  Also referred to as policy term or policy tenure.  This could be any amount of time from 1 year or whole of life.

Cease age

The age of the life assured (you or your partner, say) at which your policy ends.  So, you may decide this to be when you retire, for example.

Death benefit

The benefit paid to your nominee(s) if you die during the lifetime of your policy.

Surrender value

If you discontinue your plan before its maturity age, the insurer could pay you a lump sum.  Not all policies include a surrender value.

Exclusions

Things that are not covered by your insurance policy.  Buyer beware!  Make sure that you consider and examine these very carefully or your nominees will lose out on payment if you die.  For example, suicide is excluded from all life insurance plans.