Cover Assist

Cover Assist are one of the UK’s leading life insurance companies. Based in the financial heart of Manchester, we are proud of our small-company values with a big-company mentality. All of our insurance advisers are trained in order to offer our clients (and prospective clients) the best possible service.

People First We treat our team as family and our clients as our #1 priority.

Passion Everyone here at Cover Assist loves what they do.

Long Term We always choose long-term investment over short-term gain. We are not some ‘here today, gone tomorrow‘ company.

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Life Insurance Happy Family

What Is Life Insurance?

Life insurance is a way in which you can ensure that your dependants are taken of after you have passed away. If you die during the term of your contract, your loved ones will receive a lump sum of money, ensuring that you provide for them even when you’re gone.

At Cover Assist we understand that thinking about death, and how your loved ones will manage after you have passed, can be difficult, and many people simply pretend that it will never happen. But we all know that it will catch up with us at some point, and if you have buried your head in the sand and neglected your financial responsibilities then you could be putting the people you love at risk.

The most common type of life insurance is referred to as ‘term insurance’. If you die within a specified time (the term), then it will pay out a lump sum or regular income to those people you have selected.

How Does Life Insurance Work?

The most common type of life insurance is referred to as ‘term insurance’. If you die within a specified time (the term), then it will pay out a lump sum or regular income to those people you have selected.

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Who Needs Protecting In Your Life?

By making sure that you have the correct life insurance, you are ensuing the future financial stability of those who depend on you. Your husband or wife, your children, those that you care the most about.

Does It Matter If I Smoke?2018-08-10T15:04:46+00:00

It’s not a secret that if you smoke you’re more likely to die earlier, and therefore your insurer is more likely to have to pay out. In order to hedge their bets a little, insurers charge less for a policies to non-smokers than smokers.

To count as a non-smoker you must be genuinely nicotine free for over a year (many companies now want you to be nicotine-free for five years). This must be genuine, if you die and it is found that had been a smoker it could invalidate your policy and your dependents would get nothing.

If you are planning to give up smoking, try consulting your GP and having it mentioned on your medical records.

What If My Insurance Provider Goes Bust?2018-08-10T14:45:47+00:00

Although this is something that actually might happen – life insurance is generally taken out over a long period of time, and anything can happen – it’s actually not as bad as you may think. In the even of your insurance provider going bust these are the most likely outcomes:

  • If your broker went bust, then the only payment you’re likely to have made them is a small fee for arranging the policy. And whilst not the best situation, you can simply use another broker and you’re only out of pocket a small amount.
  • If your insurer goes bust then the Financial Services Compensation Scheme (FSCS) will try and find another insurer to take over your policy. If you need to claim before a new insurer is found, the FSCS should still ensure you’re covered.
How Long Should The Term Be?2018-08-10T11:42:12+00:00

Again, this is entirely up to you, and a talk to one of our advisers should help you make this decision. However, we believe that a s a basic rule it should be long enough to cover your partner at least until they reach pensionable age, and any children until they finish full-time education (at least).

You may want to cover for longer than these suggested times, as it could be expensive to change the policy later on (they tend to get more expensive the older you get) and situations do change.

Only get as long a term as you feel necessary; don’t feel forced to get a policy for 30 years if you feel that 27 will be sufficient.

What’s The Tax Implications Of Life Insurance?2018-08-10T11:35:52+00:00

Although your dependents won’t have to pay income tax on your payout, it does count as part of your estate and if your total total assets (including this payout) are above the inheritance tax (IHT) threshold , they will have to pay 40% IHT on it. This can be avoided if you put your policy into a ‘trust’ – talk to your adviser for more information.

How Much Cover Do I Need?2018-08-10T11:32:33+00:00

As a general rule we suggest taking out cover for ten times the annual income of the highest earner.

Obviously, this may not be suitable for everyone and everyone’s situation is completely personal to themselves, and there are many things you have to take into consideration:

  • Do you have outstanding debts?
  • How old are your children?
  • Do you want to pay university tuition for your children?
  • What are the funeral costs?

Isn’t ten times my income a lot?

It may seem a lot, but you have to take into consideration variables such as inflation, which means that the money won’t go as far in the future as it does today.

Do I NEED Life Insurance?2018-08-10T11:25:40+00:00

Only you can really answer that question, and talking to our advisers can help you come to that decision. Life insurance is all about paying out money when you have passed away, therefore if you are single and have no dependants you should question whether you really need life insurance.

However, if you do have dependants, such as a partner and/or children (or anyone else who relies on your income) then you must ask yourself what would happen to them when you pass away. If they would struggle to pay the mortgage, pay bills, buy food, raise the children properly, then life insurance is something you can do to help this.

Customer Feedback

Life Insurance Testimonial

“Cover Assist were fantastic! Everybody that I spoke to was so knowledgeable and friendly – especially Steve. Thank you all.”

Mark Campbell


Feefo makes customers better informed about their buying decisions with authentic reviews matched to transactions. More than 4,000 industry leaders have come to rely on the power of the Feefo platform to connect with their customers and gain real, actionable insights.

“Avada Finance offers a fantastic service! It is so easy to use and the customer support is the best around. This payment option is my number one choice. I always recommend it.”



Ready to talk?

If you have any questions regarding life insurance, our expert advisers are ready and waiting for your call.

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About Us

Assist UK Group are one of the leading financial services companies in Manchester.

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