Super Money Saver Life Insurance

Super Money Saver are proud to team up with Smart Cover Online, a leading Life Insurance company offering Life Insurance cover anywhere any time. Get peace of mind for your family by purchasing Life Insurance online in just under 5 minutes, or if you prefer, complete a quick and easy form and we will contact you back to discuss your Life Insurance needs over the phone.

Life Insurance is an insurance you take out either as an individual or in a joint capacity to ensure your dependents receive a lump sum or regular payments in the unfortunate circumstances of you passing away. 

You will make monthly payments to a Life Insurance company. You decide on how much and how long you want to take the policy out for, and if you pass away during the policy period, your dependents will receive a pay-out according to the terms of the policy.

It is never too late to ensure your family are covered, with Smart Cover Online, you can get instant cover online, in under 5 minutes. Yes, 5 minutes is all it takes to ensure you and your family have peace of mind.

What is life insurance and what is Critical Illness cover?

Life insurance, in its simplest terms, pays out a lump sum when the person insured dies within the term of that policy; the policy term is a set number of years and the lump sum is the sum assured that you have decided is the amount you would need to be paid out. You can purchase through our website Level, Increasing, or Decreasing Life Insurance Cover.*
Critical Illness Cover pays a lump sum if you are diagnosed with one of the listed critical illnesses within your Critical Illness Policy, during the length of your policy.*

How much cover do you need?

The amount of cover you need will depend on your own personal circumstance, there is no one-size-fits-all answer. The factors you may need to consider include covering;

Mortgage or rent payments

Any other loan or debt repayments

Household bills

Education and childcare expenses

Loss of income.

How long do you need cover for?

If you are using the policy to cover a mortgage then the policy term should be the same as the remaining length of your mortgage. If you are using the policy for family protection people often choose a term that provides cover until your children reach independence. The choice is yours.

Types of cover

Level Cover

The pay-out and cover stays the same throughout the amount of time you are insured for. Put simply, you decide the amount of cover to take out and that’s what the policy pays. This is often taken out for families, who want to cover for costs such as protecting their families lifestyle or child care costs as well as monthly outgoings such as a mortgage.

Decreasing Cover

This means the cover amount decreases each year to pay off an outstanding mortgage or loan by the end of the term based on an interest rate of 8%. This is because your debt should be decreasing as you repay it over time.

Increasing Cover

As the name suggests, this increases the pay-out the longer the policy runs. The cover amount increases each year by 3% and your premiums increase by 3.75% each year to pay for the increased cover and age. The increasing option helps to provide some degree of protection against the risk of inflation.

Critical Illness Cover

Critical illnesses have the potential to turn your life upside down unexpectedly. We all hope it won’t happen to us, but what would happen to your family’s finances if you became seriously unwell? It’s important to consider if your loved ones would be able to pay the mortgage, rent or other household bills- if they couldn’t, critical illness cover could be for you.

Your policy has no cash-in value at any time.

What effects the price of life insurance?

The amount of cover
 
Your monthly premium will be higher if you need a large amount of cover.
 
The Length of cover
 
Like with cover amount, the longer you need cover for, the higher your monthly premium could be.
 
Your age
 
Monthly premiums are usually lower the younger you are.
 
Single or Joint policy
 
The cost of two people jointly covered will be cheaper than two separate individual policies. 
 
If you smoke
 
Being a non smoker will typically mean your premiums are lower than if you smoke.
 
Your health history
 
Your medical history can affect your monthly premium.
 

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* Not paying or being behind on your premiums may impact your ability to claim or your claim amount. If you fall behind on your premium payments and do not resume paying your premiums, even if you become ill or lose your job, your policy may be cancelled and cover will cease.