Beagle Street Life Insurance Review 2023

Beagle Street is a UK specialist life insurance provider founded in 2012.

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Beagle Street is a UK specialist life insurance provider founded in 2012. Currently, the company provides insurance for over 200,000 people. It’s owned by the BGL Group, and like other insurance providers under BGL, Beagle Street is backed by Scottish Friendly Assurance Society Limited.

Life Insurance Offered by Beagle Street

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The company offers three main life insurance policies:

  • Decreasing Term: Where your payout drops through the duration of the insurance period. Most people use this type of policy to pay repayment mortgages or other debt that may decrease over time. Generally, your premium also decreases over time.
  • Level Term: Where the payout stays as a fixed sum throughout the policy term. This policy is useful for coverage of interest-only mortgages or leaving an inheritance for loved ones. With this type of policy, your premium stays the same throughout the coverage period.
  • Critical Illness Cover: You receive a payout should you be diagnosed with a condition covered by Beagle Street. There are 26 illnesses covered. The company also offers the option to add Child Critical Illness Cover, which provides coverage for any current or future children you might have. This add-on lasts for the duration of your policy.

Features and Benefits of Beagle Street Life Insurance

Beagle Street life insurance

Beagle Street offers a varied range of benefits and features that set it apart from other insurance companies.

Beagle Street offers a varied range of benefits and features that set it apart from other insurance companies. Here, we take a look at some of the key perks:

  • Samaritans-trained Team: Making a life insurance claim is a difficult period. To ensure you’re being dealt with properly, all professionals at Beagle Street are trained by the Samaritans charity in the UK.
  • Fixed premiums for the duration of your policy (unless changes are made).
  • Early Funeral Payment: Once your family makes a valid claim, Beagle Street will quickly pay up to £5,000 to cover your funeral costs.
  • Free Terminal Illness Cover: The company’s life insurance policies come with free early terminal illness cover. This means that if you are diagnosed with a terminal illness and are given less than 12 months to live, Beagle Street will make an early payment to ease stress in what is already a difficult time.
  • Free Counseling: To support your loved ones after you’re gone, Beagle Street provides a free counselling service that can help your loved ones through a difficult period.
  • Will Service: With your life insurance policy, you can access the company’s free will writing service.
  • Accidental Death Benefit (ADB): Whilst you wait for your application to be approved, you can take advantage of the company’s free ADB service. To do so, Beagle Street might ask additional medical and health questions.
  • Gift Card: When you take out a new life insurance policy, you’ll be eligible to receive a gift card worth up to £100 to spend on various retailers.
  • Maximum payout of up to £750,000.

Overview of Beagle Street Life Insurance Key Policy Details

We compare plans from the leading life insurance providers

Cover Options Term Life. Decreasing Life
Cover Period Between 5 to 40 years, or until you turn 79.
Critical Illness Cover Available for you and your children at an additional cost.
Maximum Applicant Age 64.
Minimum Entry Age 18.
Whole of Life Policy Not offered.
Joint Life Policy Both single and joint life policies are available.

Can You Make Changes To Your Policy?

Once your policy has started, you won’t be able to change the coverage amount or cover length. If you require to do so, you can get in touch with the company to cancel your policy and start a fresh one free of charge.

Can You Write Your Beagle Street Policy in Trust?

Beagle Street offers a complementary trust tool that enables you to write your life insurance in trust quickly. This will ensure that a trustee will oversee the correct distribution of your payout to your selected beneficiaries.

Beagle Street Life Insurance Ratings.

Insurance companies are often reviewed and rated by independent, third-party companies that measure the quality of their services. This is a great way to compare between insurance firms you’re interested in.

The rating company Fairer Finance gave Beagle Street its gold ribbon award for life insurance and rated the firm on four categories:

  • 94.28% for claims score
  • 85% for complaints performance
  • 57.11% for transparency
  • 79% for customer experience

The financial information and rating company Defaqto awarded Beagle Street a 3 Star Rating for its Life Insurance with Critical Illness Cover.

How Much Does Beagle Street Life Insurance Cost?

The cost of life insurance will depend on a case by case basis. The company will factor in your age, occupation, smoking status, health condition, and medical history. Below, we’ve put together an example estimate:

  • A non-smoking 30-year old applicant looking for a level term policy covering £150,000 over 25 years will be paying around £9.18. To add critical illness cover, the price rises to approximately £19 per month.
  • The same applicant looking for a decreasing term policy will be paying around £3.60 per month, rising to £14 with critical illness cover.

Note that this estimate is for a single life policy and does not include child critical illness cover. The premium will also rise if you’re older, in a hazardous occupation, or a smoker.

Is Beagle Street Life Insurance Right For You?

Beagle Street offers a fantastic value proposition if you’re looking for a company that only specialises in life insurance. Its prices aren’t the lowest, but your life insurance will be in the hands of specialists.

Another reason why Beagle Street is a great choice is the array of supplementary services that you can take advantage of. Many of them will save you time and money, such as the free will writing service and the life insurance in trust tool. Another money-saving feature is the Accidental Death Benefit, which covers you whilst waiting for approval, potentially eliminating the need to take out a costly short-term life insurance policy.

Finally, with Beagle Street, you can rest assured that your family will be handled with the utmost care through their free counselling service and Samaritans-trained team.

Defaqto ratings

Type Plan name Rating
Critical illness (decreasing) Life Insurance And Critical Illness Cover 3
Critical illness (level term) Life Insurance And Critical Illness Cover 3
Critical illness (direct with life cover) Life Insurance And Critical Illness Cover 4
Life assurance (direct) Life Insurance And Critical Illness Cover 4
Life assurance (decreasing) Life Insurance And Critical Illness Cover 3
Life assurance (level term) Life Insurance And Critical Illness Cover 3
Defaqto ratings were reviewed on 01/10/2023