This website is owned and operated by Draco Internet Marketing Ltd

Who needs Life Insurance in the uk ? Part 2

Whole of Life

As the name suggests, potentially, this type of policy will provide cover through an individuals life

Hot Topics

Is the price I get quoted for life insurance the price I get charged?: We are afraid the answer is “it depends” upon many factors.
What is Life Insurance?: Life Insurance (with terminal cover included) is a form of insurance that pays out a lump sum if you die or fall terminally ill during the period covered by the policy.
What is Whole of Life?: A Whole of Life Assurance policy has no predetermined termination date and it will continue in force until the policyholder dies or they surrender the policy.
Complaints about a Life Insurance Adviser: All the Life Insurance Adviser aqre now regulated by the Financial Services Authority.

time. However, when obtaining a whole of life insurance quote, as well as level of premium there are other aspects to be considered, such as investment performance, effect of ( cheap loans ) charges, financial strength of the company.

Which one?

There are good arguments for both type of policy. We would suggest that the following could make up the main considerations: -

Cost - Whole of Life insurance, as a rule of thumb is usually the more expensive type of product.
Period that cover is required - If cover is required for a specific period i.e. a Mortgage then Term cover could be more appropriate
Future Plans - If, for instance a family is planned, then whole of life can ( loans ) offer the flexibility to increase cover for this or other like events.

Note

Critical Illness(CI) now provides an equally important benefit and we would strongly recommend that you view the CI Factsheet.

Conclusion

This artice is meant merely as a rough guide to the needs and options surrounding Life Assurance. It is by no means a comprehensive outline to anyones particular ( life insurance quotes ) requirements. It would be, therefore, wise to use this as a guide and seek more comprehensive advice, via a professional Independent Financial Adviser. All advisers are Regulated and Authorised by the Financial Services Authority (FSA) and are now required to explain their status to you (either independent and fee charging, independent but paid by commission only, or tied)