Budget Insurance life insurance

Budget Insurance offers straightforward and affordable life, van, car and home insurance. Here’s what you need to know about its life insurance range.

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What life insurance policies does Budget Insurance offer?

Budget Insurance offers two types of life insurance:

  • Level Term – the cover amount is fixed for the length of the policy. This means that if you die while the policy is valid, your family (or chosen beneficiaries) can claim for a set amount of money.
  • Decreasing Term – this is where the amount you’re covered for decreases over time, and your dependents can claim the current value of the policy when you die. This type of cover is often taken out alongside a large debt that increases over time, such as a mortgage.
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Budget Insurance offers either a single or joint life insurance policy:

  • Single Policy – this covers one person for the length of the policy.
  • Joint Policy – this covers two people, but will only pay out once. This will be when the first person dies, meaning the other person will receive the pay out and the cover will then end. Find out more about joint life insurance.

Budget Insurance also offers critical illness cover as an add-on to your life insurance policy:

  • This type of cover will pay out, often through a tax-free lump sum, if a policyholder suffers from a specific illness or injury.
  • Child critical illness cover is also available and it covers any children, whether you have them or are planning to have them in the future.

What else does Budget life insurance offer?

A free will, that usually costs £150, is offered to customers when they buy a life insurance policy with Budget Insurance.

Budget Insurance’s customer service team, who can advise you on how to claim your free will, can be contacted on 0330 0188806 (Mon-Fri 8am-9pm, Sat 9am-5pm, Sun 10am-3.30pm).

Why should I buy through Compare the Market?

By comparing through us you could find a great deal on life insurance, to give you peace of mind that your loved ones will be taken care of should the worst happen to you.

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