Engage Mutual Life Insurance

The engage Mutual Life Assurance is the trading arm of the UK-based HFSL (Homeowners Friendly Society Limited) authorized by the Financial Services Authority to provide insurance services, Savings and investment banking, trust fund management for children and healthcare coverage for the family. Their market focus is on the family with a recently launched online financing service. Life Insurance Products The engage Mutual Life Assurance provides the following insurance services: Over 50s Whole of Life Cover Plan: Provides insurance coverage for elder UK residents in the event of death or terminal illness diagnosis within the term of the policy plan or for life if the policy holder reaches the age of 90. Funeral Funding Option: Provides funeral arrangement services in partnership with the Co-operative Funeral Care, UK’s largest funeral service provider. This is an optional feature you can add at no extra cost to its Over 50s Cover Plan. You can arrange for direct payment to the funeral director if the Over 50s plan can cover the entire funeral bill, otherwise, your beneficiaries will need to cover the balance. Promotional Features If you are a UK resident between the ages from 50 up to 80, you are guaranteed acceptance with no medical examination requirement for a live cover plan. The cost of cover hinges on your choice of plan which also depends on your age and personal circumstance. If you are qualified, you can opt to get the lowest premium for just 27p a day or £8 per month on the Over 50s Life Cover. Online insurance quote can be obtained in a matter of minutes. You get a 5% discount when you apply online. Most online application gets instant cover with no medical requirement. Over 50s life insurance is offered in two choices: (1) Plan with a welcome gift of 30 Marks and Spencer voucher or digital radio, or (2) Plan with a cashback of 3 months worth of premiums to be applied after 6 months of premiums have been paid. Insurance Benefits The maximum payout under this cover is £5,000 which is the restriction under the Friendly Societies Act of 1992, regardless of how many beneficiaries are nominated in the policy. If you die after the first 2 years, you get the whole amount on your policy. If you die within the first 2 years, the cover pays you 150% of the all premiums paid until date of death. But if death is caused by an accident, the payout is three times the sum assured not exceeding £32,000. You get Whole of Life insurance where your cover lasts a lifetime for as long as you pay the premium. Upon reaching age 90, you stop paying the premium and the cover remains in effect until your death. Over 50s Live Cover payouts are guaranteed tax-free Special Value-adding features Opting to avail of the Funeral Funding Options entitles your beneficiary a £250 funeral contribution. By applying a Legal Charge to the policy, payment can be made directly to defray funeral cost. Note that a Legal Charge takes precedence over policy nominations. You can avail of the Independent Care Advice currently provided by Grace Consulting at no additional cost.