When it comes to taking care of your loved ones, one of the most important investments you can make is getting an insurance policy. Among the types of insurance available in the market, life insurance is a popular choice for many, as it provides financial security and peace of mind for your family in the event of your untimely death. One of the leading providers of life insurance in the UK is Friends Insurance. In this article, we will delve into the various policies offered by Friends Insurance, their features and benefits, as well as frequently asked questions about their services.
Who is Friends Insurance?
Friends Insurance, also known as Friends Life, is a UK-based insurance company that offers a wide range of protection policies for individuals, families, and businesses. With a history that dates back to the early 1800s, Friends Insurance has built a reputation for its quality products and excellent customer service.
Products Offered by Friends Insurance
Friends Insurance offers a range of products to cater to the varying needs of its customers. Some of their popular policies include:
Policy Name |
Description |
Life Insurance |
A policy that pays out a lump sum to your beneficiaries in the event of your death or terminal illness diagnosis. |
Critical Illness Cover |
A policy that pays out a lump sum if you are diagnosed with a critical illness such as cancer, heart attack, or stroke. |
Income Protection |
A policy that pays out a monthly income if you are unable to work due to an accident or illness. |
Over 50s Life Insurance |
A policy that provides guaranteed acceptance for those aged 50-80, with no medical questions asked. |
Features and Benefits of Friends Insurance Policies
There are many reasons why Friends Insurance policies are popular among customers. Some of the features and benefits of their policies include:
- Flexible payment options, including monthly or annual premiums.
- Ability to choose the amount of cover you need.
- Option to add extra cover such as accidental death benefit or funeral benefit.
- Some policies offer a level or decreasing term benefit, depending on your needs.
- 24/7 claims helpline available.
- Some policies offer additional benefits such as free counselling or legal advice.
FAQs About Friends Insurance
Q: How do I apply for a Friends Insurance policy?
A: You can apply for a policy online, over the phone, or through an independent financial advisor. The application process is straightforward, and you will need to provide some personal and medical information. Once your application is approved, you will receive your policy documents, and your cover will start from a specified date.
Q: How do I know how much cover I need?
A: The amount of cover you need will depend on your personal circumstances, such as your age, financial commitments, and lifestyle. Friends Insurance offers a calculator on their website that can help you determine how much cover you need. Alternatively, you can speak to an independent financial advisor who can guide you through the process.
Q: Will I need to undergo a medical exam to apply for a policy?
A: Depending on the policy you choose and your age, you may be required to undergo a medical exam or fill in a medical questionnaire. This is to assess your health and determine your eligibility for cover. In some cases, you may be offered cover without the need for a medical exam or questionnaire.
Q: Can I change my policy if my circumstances change?
A: Yes, you can make changes to your policy if your circumstances change. For example, if you have a child, you may want to increase your cover. Or if you retire, you may want to reduce your cover. Friends Insurance offers flexibility with their policies, allowing you to make changes when needed.
Q: What happens if I miss a premium payment?
A: If you miss a premium payment, your policy may be cancelled or suspended. However, Friends Insurance understands that unforeseen circumstances can arise, and they may offer a grace period for payment. It is important to contact them as soon as possible if you are having difficulty making a payment.
Conclusion
Friends Insurance is a reliable and reputable insurance company that offers a variety of policies to cater to the needs of their customers. Whether you are looking for life insurance, critical illness cover, income protection, or over 50s life insurance, Friends Insurance has got you covered. With their flexible payment options, excellent customer service, and additional benefits, their policies provide peace of mind and financial security for you and your loved ones.
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