Life insurance could help support your loved ones if you pass away while the policy is active. A payout could help towards household bills, mortgage payments, childcare costs, or simply provide financial stability during a difficult time, giving your family vital support when they need it most.
If you are a parent, homeowner, couple or someone whose death would leave another person facing mortgage payments, household bills, childcare costs or lost income then speak to us today.
For many people, life insurance provides reassurance that their family could stay in their home, cover everyday living costs and maintain financial stability if the unexpected happens.
Sports Financial Services has more than 20 years of experience arranging cover, including for people with medical conditions, hazardous jobs and high-risk hobbies. We help people who have struggled to find suitable cover because of a medical condition, their occupation or the sporting activities they enjoy.
Contact our team on 0345 565 0935 or complete our online form for a free, no-obligation quote.
What Is Life Insurance?
Life insurance gives your loved ones financial help if the worst happens. Should you pass away during the policy term, it pays out to the people you choose. They can use it for everyday expenses, debts, or future plans, giving them a bit of security and peace of mind when they need it most.
The payout could help your partner, children or other beneficiaries cope with the loss of your income or contribution to the household. It may be used towards repaying a mortgage or other debts, cover everyday living costs or provide financial support for future family expenses.
You choose how much cover you need and how long the policy should last. The right amount and policy term depend on who relies on you financially and what you want the payout to cover.
What Can Life Insurance Pay For?
Your beneficiaries may choose to use a life insurance payout towards living costs, for example:
- Repaying some or all of an outstanding mortgage
- Cover rent, utilities and household bills
- Replace income the household relied upon
- Pay towards childcare or education
- Clear loans and other debts
- Meet funeral and estate-related expenses
Speak to one of our life insurance specialists today to discuss the amount of cover you require and the duration of cover that you may need to cover yourself and your family.
Who Should Consider Life Insurance?
Life insurance is commonly arranged by people whose death would create a financial shortfall for someone else.
Parents and Families
Parents may want cover to replace income, pay for childcare or support children as they grow. It is also important to consider the impact of the loss of a stay-at-home parent and a joint policy may be something you want to discuss with us.
Life cover can sit within wider family protection where death, serious illness and loss of income need to be considered together.
Homeowners and Couples
Life insurance can help a surviving partner with support towards mortgage repayments or monthly outgoings. Couples without children may also need protection for shared rent, loans and household costs.
Self-Employed People and Business Owners
Self-employed people may have limited workplace benefits. Directors and business owners may need cover for family finances and business-related commitments. Again, our specialist advisers can help discuss how you could organise this type of cover via your business.
Types of Life Insurance
We specialise in a couple of type of life insurance cover:
Level Term Life Insurance
Level term insurance provides a fixed amount of cover for a set number of years. If a valid claim is made during that period, the benefit is payable.
Decreasing Term Life Insurance
The insured amount reduces over the policy term. This cover is often used for a repayment mortgage because the mortgage repayment balance should also reduce. It can cost less than comparable level cover, but the payout becomes smaller.
How Much Life Insurance Do You Need?
Start by considering what your family would need financially if you were no longer here. Add up the commitments they may need to meet, then take away any savings, workplace death benefits and any existing life insurance.
Things to consider in your calculations may include:
- Your outstanding mortgage or future rent payments
- Loans and other debts
- Monthly household bills and living costs
- Childcare and education expenses
- The number and ages of the people who depend on you
- Your partner’s income and workplace benefits
- Existing savings, pensions and insurance
- How many years your family may need financial support
Too little cover could leave your family with a financial shortfall. Choosing more cover than you need may result in premiums that become difficult to maintain. Our advisers can help you work out an appropriate level of cover and policy term based on your family, finances and budget.
Can Your Health Affect Life Insurance?
Insurers usually ask about your health, medical history, medication and family history. Some applications are accepted using a questionnaire, while others require a medical report.
A medical condition does not automatically prevent you from getting cover. The outcome can depend on the diagnosis, treatment, recovery, test results and the insurer’s approach.
Applying to an unsuitable provider can lead to a higher premium, an exclusion or a decline. Our specialists will support you through this process and review your circumstances before approaching insurers.
Can Your Job or Hobbies Affect Your Cover?
Jobs involving heights, heavy machinery, aviation, offshore work or emergency response can lead to extra questions about duties, qualifications and hazardous work roles.
Sports such as rock climbing, diving, motorsport, mountaineering and skydiving can also affect an application. Insurers may ask about a number of sport specific questions , such as, frequency, location and level of participation.
Our work with extreme sports insurance helps us identify the providers that are more comfortable with active or higher-risk lifestyles.
Life Insurance and Other Types of Protection
Life insurance provides financial support for your loved ones if you die. If illness or injury stops you from working, income protection is designed to help replace some of your lost earnings. You may also want to speak to us about income protection and critical illness cover.
Income protection is designed to pay a benefit when illness or injury prevents you from working and the claim meets the policy definition.
Critical illness cover is designed to pay a benefit following the diagnosis of a condition listed in the policy. The payout may help towards living costs, debts or cover time away from work.
Each policy protects against a different type of financial risk. We can help you compare life insurance, income protection and critical illness cover so you can see where any gaps remain in your cover.
What Affects the Cost of Life Insurance?
- Age and health – Age, health, medical history, medication and family history can affect the premium and terms offered.
- Smoking and nicotine use – Smoking, vaping and other nicotine use can increase premiums and must be disclosed accurately.
- Cover amount and term – A larger payout or longer term usually costs more because the insurer is taking on a greater potential liability.
- Occupation and activities – Higher-risk work and hobbies can also affect the premium and may result in certain types of exclusions.
Why Choose Sports Financial Services?
Standard comparison routes do not always work well when your health, occupation or hobbies require closer assessment. Applications may be declined or priced heavily when the provider does not understand the risk.
Sports Financial Services provides:
- More than 20 years of specialist financial protection experience
- Support for standard and complex applications
- Knowledge of hazardous occupations and high-risk sports
- Access to insurers with different underwriting approaches
- Clear explanations of premiums, exclusions and policy terms
- A free, no-obligation quotation service
We gather the relevant details before recommending where to apply. This helps insurers assess your circumstances quickly and accurately.
Get a Free Life Insurance Quote
Life insurance could help your family with support when they need it most. If you are concerned about debts, manage household bills and maintain financial stability after your death then speak to us today. We will be happy to discuss your needs in relation to your dependants, commitments, health, occupation, sports, hobbies and budget.
Complete our online form for a free, no-obligation quote or call 0345 565 0935 to speak to a member of our specialist team.