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Friends Provident Endowment Insurance
Friends Provident Endowment Insurance refers to the vast avenue of life cover insurance policies that aim to secure the future of one’s family and loved ones. The basic aim of such Insurance plans is to provide a pre-decided lump sum fund amount to the stated beneficiaries after the death of the policyholder, during the term in which the policy runs.
Such Endowment Insurance policies are typically suited for those who may be seriously ill or foresee the possibility of an unexpected death alongside having financial dependents.
About Friends Provident Endowment Insurance
Friends Provident is an organization offering Life Insurance options to customers by having networks with big and small insurance providers all over the world. Founded in 1832 and based in UK, the company exchanged many hands, though managing to spread their operations to Europe, Asia, and the Middle East. Friends Provident is known to market a wide array of life protection, income protection, pensions and investment products for individual customers and corporate clients in these parts of the world.
Types of Life Insurance
The company sells primarily tree types of life insurance policies. The Level Term Insurance Policy is such that it promises to pay out a lump sum in the incidence of the death of the policyholder to the stated beneficiaries in the pre-signed documents. The lump sum amount to be paid out as well as the term period in which the policy is valid is decided beforehand. The insured amount is a guaranteed pay-out and remains unchanged throughout the term of the policy.
Friends Provident also offers Decreasing Life Insurance Policies that work on the model of a set term period and assures to pay a lump sum to the stated beneficiaries if the policyholder dies in the term of the plan. However, the amount of the lump sum decreases over time through the term of the policy and is mainly focused on tying n with the outstanding amount on one’s repayment mortgage.
The Critical Illness Policy offered pays a lumps sum amount to those insured in the event of them being diagnosed of certain specified critical illnesses, regardless of the status of their income or expenses.
The Rival Companies to Friends Provider are – Cavendish Endowment Insurance.
Friends Provident Endowment Insurance Reviews
The company does not have many reviews on reviewcentre.com. However, of the few that it has, Friends Provident Life Cover has earned a modest 0.5/5 star rating. One can present their own review of their experience with the company on the website or read the reviews by others at reviewcentre.
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If you don't find the best value endowment life insurance quote now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only provide quotes for Endowment Insurance which means you can speak to experts as well as getting great prices. Complete our form and find out your lowest quote.