Life Insurance FAQs

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Answering the questions you care about

If you have a question you’d like to ask our team of experts then email enquiries@beaglestreet.com although we may not always be able to provide advice.

About Beagle Street

We aim to make Life Insurance as simple as possible so all our customers can make the best decision about their cover. We’re open with our customers, we have a hints & tips page which you can browse while making your decisions, detailed useful guides, a jargon buster and of course this FAQ page.

We have applied this philosophy to our application process, meaning you can get covered in just 10 minutes.

Beagle Street are part of the BGL Group. BGL was established in 1992 and now have over 7 million customers and 3,000 employees, making us part of one of the UK’s largest personal insurance groups.

Beagle Street combines a market leading approach and a partnership with our underwriters Scottish Friendly Assurance Society, who are one of the UK’s most innovative friendly societies. They have more than 150 years’ experience and over £990 million in assets (as of 31/12/2013), as well as over 400,000 members.

About Life Insurance

Life Insurance could provide extra financial security for your loved ones. If you die during the policy term then your loved ones could claim on your policy and receive a lump sum pay-out. This pay-out can be spent however they wish.

We require that you are a permanent UK resident and between the ages of 18 – 65 years old.

Anyone who has financial responsibility for others should seriously consider Life Insurance, for example if you are married, have children or have a significant amount of debts in assets such as a mortgage.

Life Insurance is all about planning for the unexpected. You should consider if your family could financially cope if you were to die or become critically ill and unable to work.

Working out how much cover you need is a very personal decision. There’s no perfect way to select your cover amount, as your situation could change in the future which may mean you need more or less cover.

As a good starting point use our Life Insurance calculator, which can help you calculate your cover amount based on your current situation.

Depending on your age you can take up to £750,000 of Life Insurance. See here for a table that shows the maximum life cover amount by age, and here for maximum critical illness amounts.

This is a personal decision that you need to make. It’s worth considering the reasons why you are taking Life Insurance in the first place. If you are taking it to cover against a 25 year mortgage then a 25 year Life Insurance policy term could be right for you.

You can take out our life cover for up to 40 years or up until the age of 79.

You are covered in the event of your death within your policy term, for a pay-out to the value of your policy at that time. If you took out level term cover then the cover amount will match the figure you chose, whereas the mortgage term value will decrease so it’s worth checking what your cover amount is decreasing by.

You are also covered with free terminal illness cover. This provides an early pay-out if you are diagnosed with 12 months or less left to live. If you have taken additional critical illness cover then a pay-out will cover you against these illnesses.

You are not covered for suicide in the first 12 months of your policy.

We pride ourselves on making Life Insurance simple. In just 30 seconds you can get an indicative quote, and a full quote in just 10 minutes unless there are any additional questions we need to ask you.

Unlike many other life insurers we do not require you to have a medical examination before we make a decision on your Life Insurance application. The decision to accept or reject your application is based on the answers you provide us.

Some employers offer death-in-service cover. This typically pays a lump sum to the value of a salary multiple (often four times your salary) if you die whilst being employed by that firm.

It’s worth checking with your employer to confirm whether this is included as part of your work benefits package. It is also worth considering whether this value will be enough to meet your needs, and whether a personal Life Insurance policy could provide you with the cover amount that’s right for you.

No. The premiums you pay are to cover you within that set policy term. If no claim is made within the policy term then the premiums will simply stop and your cover will end.

We offer two types of Life Insurance policies; level term and mortgage term. You need to decide what type of policy best suits you, but in certain situations I could be beneficial to have both.

If your level of financial responsibility changes over the duration of your policy term then you may find you need more or less cover. However, once a policy is in place it cannot be amended, because the premiums are calculated based on your details at the time of application.

In this instance a decreasing term can offer a cheaper way to top up your cover, with policies available from just £5 a month.

About you

We offer Life Insurance to people aged 18 – 65. It’s worth noting that the monthly premiums can increase as you get older (see here).

We offer Life Insurance with critical illness and child critical illness from just £5 a month. You need to consider what financial responsibilities you have and what level of cover you need. We offer transparent information about how we calculate your price and what is within your control to get cheaper cover.

We offer Life Insurance with critical illness and child critical illness from just £5 a month. You need to consider what financial responsibilities you have and what level of cover you need. We offer transparent information about how we calculate your price and what is within your control to get cheaper cover.

Data Security

Our website employs enhanced encryption techniques that seek to ensure all confidential data (such as credit card number, name, address and other information) cannot be intercepted, unscrambled or copied when being transmitted between our server and yourself.

We use this information to assess your suitability for Life Insurance, and will be used in an event where a claim is made. Your details are stored securely on our systems. See our privacy and data protection policy for full details.

Changes to your policy

When we provide you with a monthly premium it is based on the details you have given us within the application. These premiums are then fixed for the duration of your policy term, so they cannot increase.

A policy cannot be amended once it is in place because your premiums will still reflect your original application, not the new details you have provided. This means you cannot amend the policy type for example.

If you wish to amend your address on your policy you can either email us at enquiries@beaglestreet.com, write to us or call us on 0800 058 2929 (Monday – Friday 8am-9pm, Saturday 9am-5pm, Sunday 10am-3:30pm).

No. As long as the details you provided in your application were correct when the policy was created, whatever happens afterwards has no impact on your policy.

No. You don’t need to tell us if your lifestyle change. So long as you told us the truth when you took out the policy, whatever happens afterwards has no impact on your policy and your premiums will remain the same.

Payments

All payments are by direct debit. If you wish to change the payment date please contact us. For more information on your payment details please refer to your policy documents, which you can access in your online account.

Based on the details you provided us within your application we offer a fixed monthly premium. If you accept the terms and conditions of the policy then it is this premium that you will need to pay each month.

No. Premiums are fixed when the policy is created, and remain the same for the whole policy term (unless you cancel or successfully claim on your critical illness cover, in which case this cover will end and your premiums will reduce).

If you miss a payment then we contact you to try and resolve the payment issue so you can keep your life cover. You must make a new payment within 21 days of the unpaid premium or your policy will be cancelled.

Claims

Beagle Street is backed by the BGL Group and Scottish Friendly, long-standing companies in UK insurance. We sell Life Insurance to provide protection, not to avoid our responsibilities.

This depends on what decisions you have made with your Life Insurance policy. We offer a free service to place your policy in Trust. This gives you control to name your Trustees, who will be responsible for distributing your pay-out to the desired beneficiaries. If you do not write your policy in Trust then the pay-out will form part of your estate and could be liable for inheritance tax.

If you have a joint policy then the pay-out will automatically select the surviving policyholder as your beneficiary.

The policyholder will receive the critical illness pay-out directly, to use or distribute as they wish.

By writing your Life Insurance in Trust your chosen beneficiaries can usually receive the pay-out within a few days of the claim being approved (which can take as little as two weeks). If your policy is not written in Trust then the pay-out will be seen as part of your estate and subject to probate, which can take 6 months or more.

Contrary to popular perception most claims are paid. All insurers are required to publish their figures – we’ll publish ours as soon as they are available. The only reasons for not paying a claim are; cover was not available, the policy was not in force at the time, a deliberate failure to disclose key information during the application, or a fraudulent claim.

Click here for more information about our claims process.

You can email your loved ones to tell them about your Beagle Street policy. This email will contain all the policy details they will need to make a claim. Simply log into your online account and send the details from there.

Trusts

When Life Insurance is written in Trust it gives you the control to choose your Trustees, who are responsible for distributing the pay-out to your loved ones. A Trust can help you manage:

  • Potential inheritance tax liability (depending on the value of your estate, the current HMRC tax threshold is £325,000 as of 16/09/2015)
  • The speed of the pay-out. Without a Trust the pay-out needs to go through probate, which could take 6 months or more
  • In Trust your Life Insurance doesn’t form part of your estate. This means it cannot be taxed under inheritance tax, which places tax on estates over £325,000 (as of 16/09/2015)
  • A pay-out can reach your loved ones in just a few days of a claim being approved if the policy is written in Trust, otherwise it can take 6 months or more
  • You have more control over who receives your pay-out, by choosing the Trustees that will distribute this pay-out
  • With a Beagle Street Life Insurance policy you can write your cover in Trust for free

Help with your quote application

In any instance whereby you are completing a quote for multiple individual life policies instead of a joint policy then a separate email address will be required. This is for added security for each account. For additional support to resolve your query please phone our expert team on 0800 058 2929 (Monday – Friday 8am-9pm, Saturday 9am-5pm, Sunday 10am-3:30pm).

Yes. You can phone our expert team on 0800 058 2929 (Monday – Friday 8am-9pm, Saturday 9am-5pm, Sunday 10am-3:30pm).

Alternatively you can speak to our team through live chat. This is available when they are free.

Yes. You’ll have the opportunity to set up your online account when we ask you for an email address and password within the application. Your quote details will be stored for future reference so you can return at a later date. You will have 30 days to return to your quote, or until your next birthday, whichever is sooner.

Complaints and cancellations

If you wish to cancel your policy you can either email us at enquiries@beaglestreet.com, write to us or call us on 0800 058 2929 (Monday – Friday 8am-9pm, Saturday 9am-5pm, Sunday 10am-3:30pm).

You can either email us at enquiries@beaglestreet.com, write to us, use our feedback feature or call 0800 058 2929 (Monday – Friday 8am-9pm, Saturday 9am-5pm, Sunday 10am-3:30pm). For full details of our complaints process see ‘how to make a complaint’ in the terms & conditions.

Types of cover

Level term cover keeps the cover amount fixed for the duration of your policy term. If the policyholder dies within this policy term then a claim can be made, level term cover guarantees the same pay-out whether the claim is made at the beginning or near the end of the term.

The cover amount within a mortgage term policy will decrease as the policy ages. The reduction in the cover amount means mortgage term cover is a cheaper form of Life Insurance than level term.

The policy value will decrease, assuming a 6% mortgage rate. This reflects that mortgage term cover is often used to cover against debts that may decrease over time, such as your mortgage repayments or credit card bills.

Yes. They are the same product, but they are often used interchangeably.

If you need to cover multiple lives then you have two options; take out a joint policy for you both or get covered with a single policy each.

Joint Life Insurance acts as one policy. This means there is only one pay-out, which can be claimed upon the first death of a policyholder. After the claim has been made the joint policy will end.

If two single policies were created then a pay-out can be claimed for each policy where the policyholder dies within the policy term. This could therefore result in two pay-outs.

Whether you have taken a level term or mortgage term policy it is not directly linked to your mortgage. However, your cover amount on your mortgage term Life Insurance policy will decrease, assuming a mortgage rate of 6%.

If you re-mortgage then the interest rates you pay could change. If the interest rate on your mortgage is 6% or lower than our mortgage term cover could clear the outstanding debt, but if your interest rate is higher than 6% then you may have more debt than you have life cover. In this scenario our mortgage term product may not be right for you, so it would be worth considering your cover options.

During your application we ask for your email address, and for you to create a password. This can be used for you to save your quote, but it will also log you into your online account. In this account area you will be presented with your policy information, which will show you the cover amount of your policy.

Life assurance can also be referred to as whole of life cover. Life assurance provides a payment when you die, no matter when that is whereas Life Insurance pays upon death within the policy term e.g. 25 years from taking out the policy. The more than likely guaranteed pay-out makes life assurance typically more expensive.

We do not offer life assurance at Beagle Street. However, you can read more about the differences between life assurance and insurance.

This type of cover is often referred to as life assurance. Whole of life cover provides a pay-out when you die and is not restricted to a policy term. This makes it more expensive than Life Insurance, which provides a pay-out upon death within a set policy term.

See our life assurance vs Life Insurance guide for more information. We do not offer whole of life cover.

Over 50’s Life Insurance plans typically guarantee a payment when you die, not if you die within a set policy term. This acts as a life assurance (see assurance vs insurance guide) policy.

We do not offer a specific over 50s Life Insurance plan. However, you can take out Life Insurance up to the age of 65 (see here).

Critical illness cover

Critical illness cover (CIC) provides a lump sum pay-out if you are diagnosed with one of our listed critical illnesses. This pay-out can be used however you like.

When you complete your quote you can choose a critical illness cover amount that works for you. This needs to be added onto your Life Insurance policy and cannot be taken out separately.

It may be possible to take out Life Insurance even if you have been diagnosed with an illness. The acceptance of an application will be personal, because every situation will differ to someone else. If you have been diagnosed then we may need to ask you some more questions for us to fully understand your situation.

Our acceptance of your Life Insurance application is based on the answers you provide us with. It’s important to be truthful in your application, otherwise it could invalidate your policy.

Critical illness cover pays a lump sum if you are diagnosed with one of our listed critical illnesses, and can be claimed any time within the policy term. This can be added onto your Life Insurance policy.

Terminal illness cover on the other hand pays upon diagnosis of an illness where you have been given 12 months or less left to live. Terminal illness cover cannot be claimed in the last 12 months of the policy. This is included free within your Life Insurance.

Child critical illness cover provides a pay-out of £25,000 or 25% of your personal critical illness cover amount, whichever is lower, if your child is diagnosed with one of our listed critical illnesses. This cover is only available when you include critical illness cover within your Life Insurance.