Virgin Money offers life insurance as both level term and decreasing cover. Level term life insurance is life insurance that covers you for a set period and pays out a lump-sum cash amount in the event of your death during the life insurance term. The size of the payout is determined by the amount of Virgin Money level term cover purchased, and should be enough to ensure financial security for your dependents after your death.
Virgin Money decreasing term life insurance is usually tied to the balance outstanding on your mortgage, and decreases over time as you gradually complete your mortgage payments. At the end of the term, the Virgin Money life insurance policy is worthless, and serves simply as peace of mind that your dependents would not be burdened with your mortgage should you die before it is paid in full.
Virgin Money life insurance also includes built-in critical illness cover that allows you to claim if you are diagnosed with a terminal illness with less than a year to live. Virgin Money life insurance also offers the option to include cancer cover, offering the choice to claim earlier than with general critical illness if you are diagnosed with cancer during the life insurance term.
To ensure that a Virgin Money life insurance policy is the best-suited option for your budget and lifestyle, complete the form on this page. Totally Money will connect you with an independent life insurance expert for advice tailored to your personal circumstances.