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Debenhams Life Insurance
Debenhams is one of the most famous names on the high street, but more famous for selling clothes and home-ware instead of financial products. Their department stores are in most cities and larger towns, and they have even started opening new branches in other countries. Apart from the department stores, they also deliver the home insurance, car insurance, travel insurance and life insurance to their existing clients. They were one of the first department stores to take advantage of their significant footprint to partner with financial companies to offer a diverse range of finance products.
History of Debenhams
Debenhams has operated in UK for the past 197 years and continues to grow each year in terms of both size and sales. The base of the Debenhams company is in London and it's best services are in the retailing business and in the insurance businesses. The figures estimated in the year 2007 showed that the revenue generated by Debenhams Company was £1.7 billion. The number of employees this company has is about 19,000 and they have also recently launched online shopping as the company continues to adapt to new buying trends.
Types of life cover
Debenhams offer four types of protection plans which are the life level term cover, mortgage life insurance cover, critical illness cover and the long term income protection cover.
Life level term cover this is the most common type of life insurance cover, where the policy will pay out a lump sum payment to the policyholder’s family and loved ones in the case of their death. In case the policyholder dies within the time of the policy, the lump sum payments would be delivered to his or her family and spent on whatever they wish. This provides financial security to your family at a time when it is needed most.
Mortgage life insurance cover works in a similar way to level term cover. It will pay out a lump sum payment if the policyholder dies during the life of the policy, however the amount that the policy pays out reduces over time. This has the effect of making the policy cheaper, but more importantly it will fall in line with the amount outstanding of the mortgage. As this is probably the most significant family debt, it makes sense to put protection in place. As well as the peace of mind, you know that if the worst did happen your family will not lose the family home.
Critical Illness Cover
Provides protection for the policyholder in case they are diagnosed with a pre-agreed critical illness. This can include heart disease and most cancers. Always read the small print so that you know exactly what is and what is not covered as not all policies are the same. If you are the breadwinner and are no longer able to provide, this will provide a cash sum to help you come to terms with your new circumstances.
Long term income protection cover is the best cover that would pay you a regular income in case you lost your job or a incurred a critical injury that takes you out of work. This is the best monthly income you would have in the time of need, and would allow you to continue to provide for your family.
Debenhams is a highly regarded company that knows that business is about building relationships with its customers. Please use review centre to post your experiences and help others who want to buy a protection plan and need some advice. There are currently only a handful of reviews, but worth reading to get a decent understanding.more information