Debenhams – Life Insurance
Life Insurance – Overview
Life insurance is a great way to ensure your loved ones will be financially secure if anything were to happen to you. By paying a small premium** each month, you can provide financial protection in the form of a lump sum payment should the worst happen.
As well as the peace of mind you get from protecting your family you can also enjoy a £50* Debenhams giftcard to use in store or online when you take out our Life Insurance.
Life Insurance provides invaluable peace of mind and can be used for the following:
- Pay off your mortgage
- Help finance dependants’ present and future education
- Provide finance to help your family maintain their lifestyle
- Pay off credit card or personal loan debts
- Cover funeral costs
We offer the following Life Insurance products:
- Life Level Term Insurance
- Life Level Term Insurance with Critical Illness Cover
- Mortgage Life Insurance
- Mortgage Life Insurance with Critical Illness Cover
- Critical Illness Cover
How Debenhams Life Insurance compares:
We work with theidol.com (UK Life Insurance specialists). The service compares quotes from leading UK life insurers online in seconds.
This table below shows monthly premiums for a sum assured of £150,000 over a 20 year term.
Male
| Debenhams Life Cover | Virgin | Greenbee | M&S | Direct Line |
|---|---|---|---|---|
| £12.15 | £15.97 | £17.20 | £17.75 | £18.91 |
Female
| Debenhams Life Cover | Virgin | Greenbee | M&S | Direct Line |
|---|---|---|---|---|
| £9.58 | £13.01 | £13.93 | £13.85 | £15.01 |
Life insurance quotations above are correct at 14/09/2010 and apply to a Level Term Insurance quote for £150,000 over 20 years based on a single life, non-smoker, aged 40. All quotes are based on acceptance at standard rates.
The actual monthly payments will depend on your individual circumstances.
Life Insurance – Cover Details
We offer the following life insurance options:
Life Level Term
Life Level Term Insurance has an amount of cover which remains the same throughout the term of the policy. You decide the number of years you wish the policy to be in force and the level of cover you require at the outset. This policy will pay out on the death of the insured, or if critical illness cover is added, on the diagnosis of a specified critical illness. Whichever occurs first.
Mortgage Life Insurance
The amount of cover which a Mortgage Life Insurance policy provides decreases in line with the outstanding balance on a standard repayment mortgage. You choose the length of the policy (which is usually the same as the remaining years on your mortgage) and the initial level of cover at the outset. This policy will pay out on the death of the insured, or if critical illness cover is added, on the diagnosis of a specified critical illness. Whichever occurs first.
Critical Illness Cover
A Critical Illness policy pays out a lump sum upon diagnosis of a serious illness that is specified in the policy. The term and sum to be insured are decided at the outset. If a critical illness is diagnosed during the specified term then the sum insured is paid out.
All the above policies can be set up on a single or joint life basis. If a claim has not been made before the end of the term then the plan ceases and nothing is paid out. There is no cash in value at any time. If a claim is made then the policy ceases. In the case of Joint Life policies, cover will cease following the first claim from either life.
Long Term Income Protection (PHI)
Long Term Income Protection Insurance also known as Permanent Health Insurance is designed to pay you a regular income if an illness or injury prevents you from working. The income can be paid for as long as you are unable to work through accident, sickness or until the end of the policy term. This product has no investment content and has no cash in value at any time.
