Beagle Street life insurance review
Beagle Street life insurance
We've all seen the TV adverts, but before considering a life insurance policy you need to know if Beagle Street are actually any good.
Beagle Street have been around since 1992 and have updated their life insurance offering by introducing a simple online process that removes the need for medicals and meetings. They use an online assessment tool to provide quotes to consumers.
Beagle Street has more than 7 million customers and their policies are underwritten by Scottish Friendly Assurance Society.
All important policy documents are stored online so that they can't be lost and are available at any time. Also, if you die without making a claim, Beagle Street will monitor official registers so that loved ones receive the payout, even if they haven't got the details to claim.
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Beagle Street offer quite a high level of life insurance cover, with a maximum of £750,000 for customers under the age of 40.
If you are over 40, you can get a maximum cover level of £500,000. For over 75's the maximum is £75,000.
Beagle Street offer the following types of life insurance policy:
- Level term
- Decreasing term
- Critical illness cover
Level term life insurance
Level term life insurance is where you secure a fixed amount of cover for a set period.
This is a popular form of life insurance as it means you can arrange the amount of cover that is right for you and only have it running for the period of time you need it for.
Visit our term life insurance page for more information, or read our guide: What's the difference between term and whole of life insurance?
Over 80% of the life insurance policies sold by Beagle Street are level term policies. With Beagle Street, you can choose from a minimum of £40,000 and up to £750,000 of cover, depending on your age.
Decreasing term life insurance
Similar to level term, decreasing term life insurance is also set for a pre-determined time period. However, the amount of cover (i.e. how much will be paid out over time) decreases as time goes by.
This type of policy is ideal if you want a life insurance policy to cover your mortgage repayments. As your mortgage is paid off over time, your life insurance cover will reduce accordingly - meaning you will pay less in premiums.
Find out more: Mortgage life insurance
Critical illness cover
While life insurance is there to provide your loved ones with financial support in the event of your death, critical illness cover is there to protect you if you are unable to work due to a life-changing illness.
Beagle Street sell critical illness policies which can act as an 'add-on' to your life insurance policy - giving you added peace of mind that you and your family are protected should the worst happen.
Learn more: Critical illness cover
How much does Beagle Street cost?
Life insurance from Beagle Street can cost as little as £5 per month - depending on your age and the level of cover you require.
A 35-year-old will get life cover of £42,386 for £5 per month, while a 20-year-old will get £113,482 for the same amount.
To access the higher levels of cover, you will need to pay a bit more.
Beagle Street's headline offer is £200,000 of cover for £7 a month - which is based on a 32-year-old non-smoker. For £10 a month, a 30-year-old can get cover of up to £241,448.