It may not be the most comfortable topic to think about, but having life insurance in place offers some financial security and peace of mind for those you care about, especially as a parent with young children.
Why do I need life insurance?
Parents such as yourself typically want life insurance to help financially protect their children and spouse in case of their death. It can be used to help family members maintain their lifestyle and cover the likes of nursery or education costs and expenses from groceries to house payments should you no longer be around. Life Insurance from Co-op is the ideal way to do this. You pay a small regular payment, and should you pass away while covered by the policy, or if you are diagnosed with a terminal illness where life expectancy is 12 months or less, Term Life cover will pay out a cash sum to your loved ones to help them cover your funeral costs and monthly bills. The policy is underwritten by Legal & General, who have been protecting families for over 180 years.
Can anyone take out life insurance?
Yes, if you are between 18-77 you can take out Life Insurance from Co-op and the application process is thankfully nice and straightforward. You can get a quote in 2 minutes and be covered in 20 minutes. We’ve all got enough to be doing after all! Simply visit coop.co.uk/life to get started.
How much will it cost me?
Balancing finances is tough for everyone right now, but the affordability of Life Insurance from Co-op is one of the things that makes it so ideal, with prices starting from just £5 per month, depending on your personal circumstances.
The benefits
Co-op take pride in helping families to find the right cover for them, they understand the importance of your peace of mind. When you choose Life Insurance and become part of the Co-op family, you’ll receive a welcome gift worth £100.
Ultimately, you want a life insurance policy that you know will look after your family. As well as Terminal Illness cover, Life Insurance from Co-op provides an immediate payment for funeral expenses up to £10k. It also includes access to Legal & General’s exclusive wellbeing support from medical professionals.
Life insurance can be taken out as either a single policy or a joint policy which covers two people, for example, you and your partner. In this case, the chosen amount of cover would be paid out if the first person dies, during the length of the policy, after which the policy would end.
It’s also possible to add on Critical Illness Cover. This cover provides you and your loved ones with a payout if you’re diagnosed with one of the specified critical illnesses covered during the length of your policy, and you survive for 14 days from diagnosis. Illnesses covered include certain types of cancer, heart attack, stroke, or dementia. If you add critical illness cover for an additional cost when you take out a life cover policy, children’s critical illness cover is automatically included.
To find out more or to start your life insurance application, visit coop.co.uk/life.
*Terms and conditions apply. Life cover is provided by Legal & General.