FAQ's - Life Insurance & Cover

If you have either one of the of the following:

· Financial Dependants – People who rely on you financially. This could be a spouse, children or even company partners and employees whose lifestyle could be impaired in the event of your passing. 

· Significant Financial Commitments – Including Mortgage, Personal or Company Loans which could not be managed in the event of your passing.

Then life insurance will provide you additional piece of mind and limit your beneficiaries’ financial risk exposure. 

Cover Cloud suggests that the amount of cover be based on:

· Premium Affordability 

· Time Periods 

· Net Liabilities

· Funds Required for Lifestyle maintenance.

As “one size does not fit all” when it comes to selecting the amount of life insurance Cover Cloud has developed a “Cover Calculator” to help guide your policy and cover selection.

Premium Payments– If you stop paying your monthly premiums your cover will cease.

Cash or Surrender Values– Term Life polices have neither a cash nor surrender value.

Tax on Benefit Payments– All payments to beneficiaries are tax free.

Accurate Disclosures – All medical, underwriting and financial information you disclose must be up to date and accurate or you risk your policy being cancelled or a benefit payment denied.

Policy Cancellation - You can cancel your policy at any time. If you do so within the first 30 days or “cooling off period” your initial premium will be refunded. you'll be refunded your first premium. If you cancel after 30 days from purchase, you will not be refunded any premiums paid.

Policy Documentation – As part of the process you will receive a copy of your disclosures, Terms and Conditions, Key Facts Document and Policy Summary. Please take the time to review and confirm all information contained is both accurate and understood. 

Cover Cloud is a registered trading name of Assura Financial Limited.

Assura Financial Ltd.  is authorised and regulated by the Financial Conduct Authority under FCA Registration Number 795982.  

Assura Financial Ltd. is registered in England and Wales (no: 10781585). 

Registered Office 86 Gloucester Place, First Floor, London W1U 6HP. 

Cover Cloud is an insurance intermediary only and distributes Term Life & Critical illness Insurance from leading U.K. insurance companies.

To better serve our customers Cover Cloud does not use outside 3rd Party or commissioned brokers. All Agents & Consultants are internal salaried employees compensated by the quality of service they deliver.

Cover Cloud receives a commission from each policy sold by the Insurance Company. All commissions paid are disclosed on the policy Key Facts Documents and related Policy Information Documents. 

Please read all related policy documents very carefully.

Cover Cloud offers life insurance from a limited panel of U.K. insurers selected based on a key factors which include - price, level of cover, claims history & credit rating(s). 

All policies sold by Cover Cloud are covered by the FSCS (Financial Services Compensation Scheme) which covers all benefit claims in the event that an insurer ever becomes insolvent or cannot pay a bonafide claim and benefit.