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Budget Insurance

Who are Budget Insurance?

published: 01 July 2022
Read time: 5 minutes

Find out about the life insurance cover offered by Budget Insurance

Who are Budget Insurance?

Since it was founded in 1992, Budget Insurance has worked with almost three million UK customers. Budget Insurance is part of BGL Group, which serves over eight million people in total across the UK. 

Budget provides an online questionnaire with no medical report needed. The company also searches the official records to try and ensure that no claim is missed. 

They are backed by Scottish Friendly Assurance Society, resulting in 99.8% of all life insurance claims being paid in 2020. 

Family walking in the park

Get in touch with Budget Insurance

Budget Insurance can be reached by calling 

0300 018 8806

What type of cover do Budget Insurance provide?

With Budget, you can choose from a range of different types of life insurance – so there’s sure to be something that will suit your needs: 

  • Level term 

    • With a Level Term Policy, the cover amount is fixed for the length of the policy term. This means that if you pass away whilst the policy is valid, your family can claim for a set amount of money

  • Decreasing term 

    • A Decreasing Term Policy means that the amount that you are covered for reduces over time. This will mean your family will be able to claim the current value of the policy.  Your monthly payment will not reduce on this type of policy 

  • Critical illness Insurance 

    • Critical illness cover can help you with any day-to-day expenses or bills after diagnosis of a critical illness

  • Joint life insurance

    • Couples can take out joint life insurance with Budget Insurance. This cover ensures that both parties will be covered but the policy will only pay out once, after which point, the policy ends  

What you’ll need to get a quote

It is easy to get a quote for a life insurance policy that suits you with Budget Insurance. You will need to provide the following information to get a quote: 

  • Information about your health

  • Information about your lifestyle

    • You’ll also need to supply details of any lifestyle habits that can impact your insurance, such as drinking and smoking  

  • Your age and your job

    • People who are older or who work dangerous jobs pose more of a risk for insurers, so these details will be factored into your quote 

  • Your partner’s details

How to make a claim with Budget Insurance

Get fast help with Budget’s 24/7 UK claims helplines. 

If you need to make a claim on either a life insurance policy, a critical illness cover or child critical illness cover, call Budget Insurance’s UK based contact centre on the following number: 

0330 018 8692

It will be useful if you have the following information when calling Budget insurance: 

  • Policy number If you don’t know it or don’t have it, a name and date of birth will be enough 

  • Permission to claim  You will need this if you’re claiming for Critical Illness on behalf of a member

Why take out life insurance with Budget Insurance?

Budget Insurance offers a number of benefits for policyholders, including: 

  • A free will-writing service for customers 

    • Protect your family further with a will, provided free to Budget’s life insurance customers 

  • A UK contact centre with a claims helpline open seven days a week 

    • Budget aim to provide you with the highest level of support with a customer service team on hand if you have any questions or need to make a claim  

  • Legal Advice 

    • Free legal assistance for end-of-life matters when your family may need it most 

  • Companions service 

    • A free service with help from a registered nurse if you’re diagnosed with a critical illness 

Compare life insurance deals with MoneySuperMarket

At MoneySuperMarket, we’re here to make finding the right life insurance as simple as possible. All you need to do is give us a few simple details about yourself and the cover you want, and we’ll show you quotes from some of the UK’s leading providers. You can compare quotes by price and the level of cover you’ll get – and once you’ve chosen, just click through to your provider to get started. 

Guides

Choosing your life insurance is a big decision – and we’re here to help. If you’d like some more information, try one of our guides:   

Life insurance calculator 

Work out how much cover you’ll need to protect you and the ones you love, with our handy tips. 

Find out more

Types of life insurance 

Find out what the different types of life insurance are, and how to choose the right type of policy for you. 

Find out more

Critical illness guide 

Everything you need to know about getting financial protection against serious diseases and medical conditions. 

Find out more

Compare life insurance quotes
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