Bradford and Bingley life insurance is available in various forms. The most basic cover available from Bradford and Bingley is the general term assurance cover, which is a standard life assurance that provides cover for a predetermined period. General term assurance is usually linked to the mortgage term, and decreases in value over time in accordance with the remaining mortgage amount outstanding. In return for a regular premium, a lump-sum payment is made in the event of your death during this term, protecting dependents from having to complete payment of the mortgage. At the end of the term, the insurance is worthless, as no cash-value is accumulated as in the case of an investment policy such as whole life policies or endowment policies.
Bradford and Bingley also offer investment policies that pay out a lump-sum in the event of your death, and simultaneously build-up a cash value that can be cashed during your lifetime. These policies are essentially savings schemes with life assurance attached, and do not lose their value at the end of the term; in the case of whole life policies, your death is a certainty, so a payment will be made at this time as long as premiums have been maintained. As a result, these policies carry higher premiums than standard term cover.
Bradford and Bingley life insurance policies tailored to your lifestyle and needs. This generally means that you only pay for what you require, rather than your premiums being buoyed by other peoples’ risky lifestyles. For a full comparison of the life insurance market, complete the form on this page for independent expert advice on the best options for your lifestyle and requirements.