Unlike other life insurance companies, DeadHappy life insurance does not burden you with questions about your health. In fact, you will only be asked four questions. It also encourages customers to calculate the amount they would like to leave to their loved ones using the unique Deathwishes feature. With this feature you can choose from a list of things you would like to happen after your death. DeadHappy uses this wish list to help you calculate the appropriate payout.
About Deadhappy life insurance
DeadHappy is presumably UK’s first fully digital pay-as-you-go life insurance provider. It offers flexible life insurance policies that are designed to be cheaper, simpler and better than existing traditional suppliers. This includes price insurance based on your current circumstances and the ability to constantly add (or remove) additional coverage.
More broadly, the startup is developing what it calls its “Deathwish” platform, which is something like a testament. The idea is that you can specify how you want to use any future insurance payments, such as mortgage repayments. It is also planned to take into account other wishes not related to finances.
How does Deadhappy life insurance work?
In fact, it’s quite simple: after you have chosen Deathwish (s) or decided to just take out “regular” life insurance, you will be asked a few questions about yourself and your lifestyle – do not be afraid! In fact, it only takes a few minutes. Always be honest, otherwise your family may not get the money in the end (from you). Once you answer the questions about your lifestyle, you will receive an offer for your plan (quote is the price). Each plan is designed for 10 years and is updated annually, so it is always 10 years.
But that doesn’t mean you’ve signed up for 10 years – you’ll pay monthly and can cancel at any time (for free), it’s just an insurance plan that’s designed for 10 years to make everything convenient and easy, and so you regularly do not answer questions about lifestyle! You can just install it and forget about it.
Dead Happy flips life insurance upside down. They make it easier to get life insurance coverage, in fact “really easy”. There are two key options to get life insurance with Deadhappy, the first is a simple and easy application that takes only a few minutes. Another, quite unique, thing is to create a “Deathwish” that you decide what will happen when you die. There are a huge number of options, or you can create your own!
How to get Deadhappy life insurance coverage
The starting point is that you have been adopting a policy for ten years. Instead of using the usual premium system (which actually overpays you in the first years), premiums start lower, but increase every year. This is unusual, but it has been done before in the UK, and some friendly societies still do it for long-term income protection, and this is certainly the norm for general insurance policies.
It is guaranteed that your premiums will grow every year, but… you can start a new ten-year policy every year (useful because you always have at least nine years of insurance if your health deteriorates). It’s not spelled out, but if DeadHappy changes its premium rates in the future, if you do, you’ll probably pay a new guaranteed rate for your new age and sum insured, not the current guaranteed rate. At the end of the ten-year period, DeadHappy decides whether it will allow you to continue, so here the model departs from the usual version of renewable sources, with which we are also more familiar.
How much does Deadhappy life insurance cost?
As a very approximate figure, you are looking for around £5 a month for a typical healthy 30-year-old man. But keep in mind that the price can change every year, after 12 months it is not set for life. And it is likely to increase as you get older. But the good news is that it’s all a monthly payment, with no long-term fixed-term contracts designed to tie you to life. You can also leave whenever you want. This means that Dead Happy is extremely confident that you are getting a great price for your insurance, otherwise you will just go and go to someone cheaper.
What does deadhappy life insurance cover?
The plan was created as a ten-year insurance period with guaranteed contributions (including an annual increase). Each year it can be extended for a new ten-year period (actually you start again), subject to underwriting. After the expiration of the ten-year policy, it can be extended only at the request of the client and with the consent of DeadHappy. At this stage, the plan is also freshly signed.
Suicide is excluded (at least for the first 12 months). The policy is also not paid if the cause of death is immersion (20 meters below the surface or more); fly (except for the passenger who pays the usual fare); racing (anything with an engine or on the ocean); climbing (mountains, rocks, cliffs and large buildings); swim and jump. Death during military service is also excluded.