Nobody wants to give it a second thought, but knowing that your loved ones would be financially secure even if you’re no longer around is very reassuring. However, for self-employed courier drivers or other small business owners, securing the right cover for your needs can sometimes prove difficult.
Fortunately, Insure Courier has teamed up with our sister company County Financial Services to locate a policy that has been specifically designed with your needs in mind. This policy is also intended to cater for courier drivers and other businesses who find it difficult to prove their income due to dealing in cash.
Courier life insurance options
1) Level term assurance
There are 2 main types of life insurance. One is level term assurance which will pay out a fixed predetermined lump sum in the event of your death.
The lump sum that you require will depend on things like how much of your mortgage you have left to pay, who depends on you financially, your debts and estate taxes etc. However, as an example you may decide on a lump sum of £300,000 for which you would pay a relative monthly premium.
You can either choose for this lump sum to be released to your loved ones all in one go or gradually in smaller amounts.
2) Mortgage term assurance
The second option to consider is mortgage term assurance which is designed to pay off your mortgage in the event of your death.
Unlike level term assurance, the lump sum that will be paid out reduces over time reflecting the decreasing amount you should owe on your mortgage. However, your monthly premiums will remain the same throughout the life of your policy.
Based on your individual circumstances and your budget, you may decide to take either one of the above life insurance options or consider both for complete peace of mind.
However, we’d highly recommend that you discuss your options with a specialist at County Financial Services. Whatever your requirements, just call 0800 210 0264 or fill in our simple online enquiry form here.
After working alongside us for so many years, County Financial Services are highly experienced in catering for hire and reward drivers and will provide you with high quality courier life insurance to suit your needs.« Back to all news