Martin Lewis Life Insurance is a content that is provided on MoneySavingExpert. Martin Lewis is one of the most highly regarded financial journalists in the United Kingdom.
He also has a website that is known as MoneySavingExpert (MSE) and it provides important and useful free money, tips, and guidance to the public. In this article, we will give most of your answers to Martin Lewis Life Insurance on MoneySavingExpert.
MoneySavingExpert usually posts news, reviews, and comments about finances and insurance. You can also find other independent free financial guidance websites too.
You also have that not all of the life insurance content that is seen on MoneySavingExpert is written by Martin Lewis because they are another money-saving website that provides more information about life insurance than you might find on the site.
Martin Lewis Life Insurance Need-to-Knows
If you want to know the Martin Lewis Life Insurance need-to-knows you will have to read these 6 points for a quick guide to what you will have to consider.
- You will need to get a guaranteed premium which are fixed monthly cost that won’t change through the term of the policy.
- Make sure that you don’t hide anything from them or lie to them about your life insurance application, you have to disclose any initial medical conditions and other risks. They might decline your claims if you fail to disclose the important information to your application.
- If you want to consider a policy, you will need to consider two policies instead of a joint life policy because they only pay out once, as opposed to two single plans.
- You also need to write your life policy in trust and it is usually free to do and also helps you to avoid inheritance tax (IHT) liability and it could save you 40% on payouts.
- Make sure that you review your life insurance always to see if you can save money for example, if you stop smoking, you can be able to save 50% on your still payout.
Best Life Insurance UK Martin Lewis
When applying for life insurance, you will be given two primary options and the best policy will depend on why you need coverage.
From the points of MoneySavingExpert, it said that the best life insurance in the UK Martin Lewis will suggest are the level term policies to protect your family’s finance or Mortgage life insurance.
- Protecting your family can be called level-term life insurance and it pays out a lump sum to cover expenses like outstanding debts, funeral planning, and many more. It can also offer you some financial support for your loved ones.
- You can also protect your mortgage which is also known as decreasing term life insurance, and it is also designed to repay outstanding mortgage debt in case you die.
There are also several other common life insurance policies that you would like to consider as well as some specialist policies. And this life policy might be on your needs and sometimes on your health.
The truth is that Martin Lewis doesn’t provide much details about the other types of life insurance and most of the MoneySavingExpert content is also not written by him.
Now, we will be listing down the types of life insurance that were not mentioned by Martin Lewis or MoneySavingExpert
- Critical illness insurance
- Income protection insurance
- Family income benefit (provides monthly payments)
- The whole of life insurance
- Guaranteed life insurance
Finding the best life insurance for your family might be complicated, but when it comes to that extent, make sure that you speak to a life insurance specialist so that you can get a piece of good advice.
How Martin Lewis Life Insurance works
From what we discussed at the beginning of this article, Martin Lewis does not offer life insurance advice and he does sell life insurance policies specifically. You can only get life insurance guidance from Martin Lewis and some useful information from his team of financial journalists.
The partners of Martin Lewis will always provide all the advice that you need and also arrange your cover. This life insurance company does pay a commission or payment for each referral that is provided by Martin Lewis’s Money Saving Expert website.
We also have to know that Martin Lewis Life Insurance can’t buy cover from Martin Lewis or even from MoneySavingExpert. And the fact about all this is that the website is now owned by MoneySupermarket and it also provides life insurance but it doesn’t offer advice.
What is MoneySavingExpert Life Insurance?
MoneySavingExpert life insurance is known as a website that offers tips for money saving and also gives some information for consumers. This website doesn’t sell or even give advice on insurance or any financial services product.
But MoneySavingExpert also gives information about life insurance and also essential resources that can help you make the right decision when choosing a life cover.
Life insurance also has many other pages on MoneySaving Experts and it also provides almost all the answers to the questions that people ask. It is also said that Martin Lewis also approved the life insurance that gives advice to consumers and also encourages those who read about MoneySavingExpert.
Now, we will list down some of the life insurance companies that are named on MoneySavingExpert.
- Active Quote (up to 120 Amazon Vouchers)
- Assured Futures (100 cashback)
- Cavendish Online (50 John Lewis Voucher)
- Life Search (up to 140 Amazon Vouchers)
MoneySavingExpert was given the opportunity to feature these life insurance companies because of the service that they offer and the size of the business. The companies also pay fees or share commissions with MoneySavingExpert if they want to be featured on the website.
And in case you need a piece of advice from life Insurance, and you want the direction to be advanced on medical conditions, you have to know that none of these companies are in that area.
Therefore if you need some advice, you can get it from a medical life insurance specialist and you can also find out which insurance is the cheapest and the best for you.
We can say that Martin Lewis Life Insurance is one of the best life insurance that you can do things with.
Remember that you can get life insurance and the Martin Lewis MoneySavingExpert website and it is part of the information service that it offers.
Note that the MoneySavingExpert website featured serval insurance brokers that are not approved by Martin Lewis.
Therefore, you can apply for life insurance through the company or you can feel free to speak to an independent life insurance specialist.