Most insurance companies offer whole of life policies. These are policies which give you a guarantee that the sum assured on the death of an insured person will be paid in full to your beneficiaries.

As whole of life cover is designed to carry through to the end of the insured person’s life, rather than the limited cover of term insurance, premiums are more expensive. Also it’s common that once a person reaches a certain age, premiums may be stopped so that the company will receive no more money, but the cover will continue.

Share This

House prices rose dramatically in recent years. It’s also true to say that things have calmed down a little now, but we have some worryingly high unemployment figures, which balance this. The result of these factors explains why an increasingly growing number of people are not getting into the housing market, marrying or starting a family until much later in life than would have been the case ten years or so ago.

Share This

How are you fixed for life insurance - do you have enough? The answers probably no, as there’s evidence that there’s a very big shortfall between the amount we have - and what we really need. So even if you’re fairly up to date with your requirements, you’ll probably need more before very long. If you don’t keep up to date with it all, you could end up being severely under-insured.

Share This

Too many people who enroll or insure themselves do not really know or understand what they should suppose to know about their term life insurance. Things such as how much does life insurance cost should be known. If no claims are made against the policy during the term, you do not receive any benefits after the policy expires, just like auto or homeowners insurance.

One thing you should really need to know and understand is the policy coverage and fine prints. What is covered and what is not covered and for how long is very important to know and understand. If the insured dies during the term, the death benefit will be paid to the beneficiary. You can buy term for periods of one year to 30 years. A term policy is life coverage only.

Share This