Life Insurance

Once you have your life insurance sorted, you can get on with the rest of your life with peace of mind and full protection. It may not be the most popular of thoughts, but have you considered what would happen if you were to lose your life? Would your family be able to cope financially without you? Of course they will have grief and other emotions to deal with, but taking care of the financial aspect can save a large amount of worry and deal with practical matters such as funeral costs. Use the chart below to compare the main features of each life insurance policy. What exactly can you cover? Are there any exclusions on the policy? What are the details? Take your time and have a good click around each product to make sure you know what is on offer.

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Make sure your loved ones are protected with Life Insurance

Do you need Life Insurance?

A good life insurance policy can mean the difference between making sure your loved ones are financially secure when you die and leaving them to cope with debts and an insufficient income.

What can life insurance be used for?

Life insurance can help create financial protection for your family. Should you die prematurely it can be used to pay any final expenses and debts you may have, provide and income for your family, ensure your family has the resources to maintain a comfortable standard of living. It can also be used to leave a legacy to your favourite charity.

While you are still living some policies can build tax-advantaged savings which you can draw upon when you need. It can also supplement your retirement income and provide long-term medical care for yourself or a family member.

Finding the right Life Insurance policy

There are many different types of life insurance policies available that will suit a variety of budgets and circumstances. You need to find the best type of life insurance for you needs. As there are many different policies available you should take the time to research and compare the market which you can do in the table above.

In terms of how much a policy will cost bear in mind that the amount you pay for your policy increases with the likelihood of death within the term. Your age, health and occupation can increase the price.

How long do I need life insurance to last?

This will obviously depend on your circumstances Ė have you started a family and do you have a mortgage. If you have a young family it is becoming increasingly more important to take out life cover to provide for them until they have grown up. In these instances you would buy a policy that lasts until your youngest child can support themselves. Likewise, if you have a mortgage on your home, you should ensure your life insurance covers the duration of your mortgage term.

How much life insurance cover do I need?

Look at the size of your debts, your salary and the needs of your partner or family. You will want to ensure that they can maintain their lifestyle once you are gone so it is important that your life insurance will cover this. The more expenses you have, the higher the life insurance cover you will need.

Am I eligible?

All life insurance providers have their own set of criteria so you must ensure you are eligible before you apply for life insurance. Check for any medical exclusions or age exclusions which will be relevant. If you are in any doubt then you should seek independent financial advice.

Life Insurance - Latest News News and Charts

Important questions you should ask yourself before you take out a life insurance policy

03 September 2013
Which Way To Pay

Do I need life insurance? When should I take out life insurance? How much does life insurance cost? If you find yourself asking these questions then read on.


Who should take out life insurance?

19 June 2013
Mark Maffia

Everybody should look for a life insurance policy as early as possible. Life insurance looks after your family, but can be your pension fund at the same time


Why Get Life Insurance?

04 January 2012
Which Way to Pay

Life insurance is not necessarily for you but for those you leave behind. It is a policy that pays a cash lump sum so that your family can maintain their lifestyle after you have gone.


Got Dependents, a Mortgage? What about Life Insurance?

07 September 2011
Which Way to Pay

Itís not a conversation anyone wants to have, but the importance of life insurance isnít a something to be avoided. If youíre not properly covered youíre placing your dependents at significant risk - the last thing needed in the event of your death or serious injury!


The Importance of Life Insurance

09 August 2011
Which Way to Pay

Although we donít like to consider what may happen should life take an unpleasant turn, having a comprehensive life insurance policy does at least give you the peace of mind that dependents will be provided for.