Do I get my money back if I don't die by the end of the policy term?

All types of insurance have this annoying habit. If you don’t use it, you still pay for it. It’s how insurance companies make their money. And life insurance is no different. Don’t expect a refund if you’re still kicking about when your life insurance expires. You won’t even get a farewell card.

 

So if you outlive the end of your term, it’s easy to look back on those last 25 years of premiums as a big fat waste. You shouldn’t.

 

Here’s the thing. When you buy life insurance, you’re not just paying to protect your loved ones. You’re also buying yourself peace of mind. And some might say a slice of that is worth its weight in premiums.

Who are these ‘some’, you ask?

How about the stress heads. Odds are, you’re probably one of them. Recent research reckons a whopping 74% of us can feel overwhelmed and unable to cope with life. And that stress can soon spiral. Suicide is the single biggest killer of men under the age of 45 in the UK.

 

Of course, not all of that can be solved with life insurance. No life insurance policy ever made a bad boss nice, or suddenly made your in-laws likeable. But if part of your stress comes from the pressure of providing for your family, then knowing they’ll be OK whatever is worth a few points.

Fancy some irony? Here goes.

Getting close to your life insurance expiration date can induce stress. That’s right — that same life insurance policy that gives you peace of mind then dons a black cape and sinister moustache and cackles in your face like a banshee on crack. One day you’re leaning on the comfort of life insurance, and the next it’s got its bags packed and half a foot out the front door. It’s like when Gerri left The Spice Girls.

 

If only traditional life insurance had caught on to the fad of customer satisfaction. Instead, they penalise you the older you get. So expect the computer to say no to your renewal, or for your premiums to rocket. Then it’s back to long weekends shopping for an affordable policy and application forms running to the length of a small novel. And all the time your current policy’s expiration date looms nearer. Peace of mind, shattered.

Life insurance redesigned.

Oh, we see you, fickle life insurance. That’s why we started DeadHappy, to do life insurance the way people want it. Every year we let you reset your 10 year term back to the start, subject to a few health and lifestyle questions. And you can do this every year until you’re 60, giving you continuous coverage until the ripe age of 70. What’s more, every year we’ll calculate your premiums based on your life today, so you’ll never pay for coverage you don’t yet need.

 

Choose your life insurance like you choose your friends. For life.

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