|
|
Term Life Insurance Quote
There are three main types of life insurance:
Term Assurance: this is the most used form of insurance. It pays out a lump sum if you die during the term of the policy.
Family Income Assurance: this scheme provides an income for your dependents rather than paying them a lump sum, if you die during the term of the policy. You should note that the income is only paid for the time remaining on the policy, so you will need to make additional arrangements to go on providing an income after the policy expires.
Whole-of-Life Assurance: this type of policy is designed to pay out at the time you die whenever that date should be. Therefore as long as you maintain the policy there is guarantee that on your death the sum assured (level of Life Assurance cover) will be paid to your Estate. Some policies require premiums to be paid right up until the point of death others have a maximum term for which premiums are payable, where this is the case premiums are normally payable to age 80 or 85
Get a cheap, fully discounted life insurance quote, on this site in 50 seconds.
Endowment Assurance: this type of policy plays two distinct rolls. It provides Life Assurance protection should you die during the term of the policy, which are normally longer than 10 years, but if you survive throughout the term then the policy provides you with a lump sum, often known as the maturity value. As there is an investment element to these plans the premiums required for similar levels of Life assurance protection are sometimes higher than equivalent Term Assurance or Whole of Life policies.
The premiums for life insurance policies vary according to your personal circumstances, such as your age and previous medical history.
Pension plans - personal or occupational - may include an element of life insurance if you die before you reach the set retirement age on your pension. Often in the case of occupational pension schemes the cover is normally expressed as a multiple of salary. If your life assurance is arranged through an occupational pension scheme of your current employer, you should seriously consider starting a new policy to replace the cover if you leave your job.
This is especially important, as an interim measure, if your new employer only provides Life Assurance protection after you have completed a given period of time, for example a probation period.
|
Whole Life Insurance | Decreasing Term Life Insurance | Key Man Insurance
Group Term Life Insurance Benefit | Site Resources
|
