We are a UK-based advisory firm specialising in life insurance and many other insurance solutions. Full range of insurance products we advise on. As insurance brokers, we offer policies from a selected panel of leading insurance providers in the UK, including AIG, Aviva, Guardian, Legal & General, Royal London, Scottish Widows, The Exeter, One Family, Vitality Life, Zurich. Every day, we prioritise the future security of hundreds of clients and their families.
Sample Quote:
For a 35-year-old non-smoking male employed as a factory worker, aiming to secure his family’s financial future in the event of his death:
| Sum Assured | £100,000 |
| Monthly Premium | £5.13 |
| Guaranteed Insurance Term | 25 years |
| Insurance Provider | Vitality Life |
* This sample quote was generated on 12/04/2024. The final premium may vary based on individual circumstances.
Get insured in 3 simple steps:
Free, no-obligation quote
Tell us about your needs and requirements, and we'll present the available options.
Customised offer
After our initial conversation, we'll determine the solutions that are most suitable for you. You'll receive an offer via email, usually within 1 day.
Formalities and application
Once the insurance recommendation is finalised, we'll handle all the formalities related to the application and medical questionnaire. Upon approval by the insurer, your policy will be activated immediately
What sets us apart?
Security
Prestige Financial Advisers Ltd is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. Additionally, the majority of the deals we recommend are covered by the Financial Services Compensation Scheme (FSCS).
Experience
With over a decade in the UK market and a track record of thousands of satisfied clients.
Knowledge
All our advisors hold top-notch British qualifications from either The London Institute of Banking & Finance or the Chartered Insurance Institute.
Language
We communicate in plain, understandable language, avoiding unnecessary jargon. Moreover, we are also fluent in Polish.
Choice
We exclusively offer policies from well-respected and trusted insurance firms across the UK.
Accessibility
We cater to clients from all corners of the UK, offering consultations online or over the phone. Each client is assigned a dedicated advisor who handles everything from arranging offers to managing policies.
No Fees
You won't encounter any hidden charges with us. Our remuneration comes from the insurance companies where your policies are set up.
FAQ
What is life insurance?
Life insurance is a contract that provides compensation in the event of your death. It’s a popular and reliable way to financially protect your family and loved ones in the worst-case scenario.
What does life insurance cover?
Life insurance pays out a lump sum or regular income in the event of the policyholder’s death. Additionally, most UK insurers automatically include potential early payouts in case of terminal illness.
Where and when does life insurance work?
Life insurance protects you 24/7, worldwide (excluding countries with active war zones). The policy becomes active immediately upon acceptance by the insurer. Most life insurance policies in the UK have no grace period. Nowadays, the entire application process is mostly electronic, resulting in a very short waiting time for the insurer’s decision, allowing you to provide financial protection for your loved ones within a few days.
Sometimes, the waiting period may be longer if the insurer requires additional medical reports from your doctor.
What determines the cost of life insurance?
The cost of life insurance depends on various factors, primarily: your age, health status, whether you smoke or not, and your occupation. Additionally, the sum insured (insurance amount) plays a significant role—the higher the pay out, the higher the cost of the life insurance policy in the UK. The insurance term is another factor that affects the price—the longer the insurance guarantee period, the higher the price.
Remember that you can often extend or link your life insurance policy with other insurances to get discounts. Also, there’s an option to reduce the sum insured, hence reducing the monthly premium.
How many people can be insured on one policy?
Usually up to 2 on one policy. A life insurance policy can cover only one person (individual policy) or a couple (joint policy).
How often do you have to pay life insurance premiums?
Life insurance premiums are typically paid monthly via direct debit. The insurer automatically collects the required amount once a month from your account. Depending on your preferences, you can choose the date for payment.
How long does life insurance last?
Most insurance companies offer policies for a period of 5 to 40 years. Additionally, there are also whole of life policies that have no time limit.
It’s worth choosing the duration of your policy according to your preferences and needs. Many clients with young children choose a policy term until their children are financially independent. Others, with a mortgage, want protection until the end of the mortgage term. If you’re unsure which period is right for you, our advisors can help you, advise you, and show you the differences in costs.
What are the types of life insurance?
In the UK, we have a very extensive insurance system. The number of insurance companies and institutions offering life insurance in the UK is large, meaning everyone can find the right type of insurance for themselves. The standard option is term life insurance, typically with a minimum term of 5 years and a minimum premium of £5.
Another popular option is over 50’s life insurance, available for individuals aged 50 to 75. It offers older individuals a way to financially protect their families in case of death and cover funeral expenses.
Additionally, there are other types of life insurance in Engalnd, such as joint life insurance, designed for couples and married couples.
What are the age restrictions on life insurance in the UK?
For most insurance companies in the UK, you can take out life insurance from the age of 18.
When does life insurance not work?
Life insurance may not work if your death occurs while you are in countries with active war zones. Other exclusions may include criminal acts, such as dying in a car accident while under the influence of alcohol. Additionally, insurance companies typically exclude coverage for suicide within the first 12 months of the policy.
One of the most common reason insurers decline claims is due to the policyholder’s failure to disclose relevant health information and medical history at the time of purchasing the insurance policy.
Fortunately, instances of denied claims are relatively rare, and insurance companies in the UK have excellent claims payment records, paying out approximately 96% to 99% of claims on average. (1)
Do you need to appoint beneficiaries in life insurance?
Appointing beneficiaries is crucial in life insurance to prevent unnecessary delays and ensure that funds are distributed according to your wishes. For most policies, it’s advisable to establish a relevant trust, appointing a trustee and beneficiaries. Additionally, with a properly structured trust for life insurance, beneficiaries can potentially avoid inheritance tax. We provide complimentary assistance to all our clients in establishing a trust for their life insurance policies.
How to buy life insurance?
An effective way to purchase life insurance is through an advisor or broker who has access to a wide range of insurance companies and policies. Additionally, make sure that the advice from the company you’re using is regulated and supervised by the FCA—the regulatory body overseeing the financial services market in the UK.
Life insurance in the UK can also be purchased directly from the insurance company—this is recommended for individuals who understand all the issues related to insurance terms and conditions, don’t need advice, and won’t have difficulty completing the application and medical questionnaire.
Have more questions about life insurance? Contact us.
