The Basics of Life Insurance

The Basics of Life Insurance

Ans: Many people are confused by life insurance so it is important to understand the basics. This is the most effective way for you to offer a lump sum of money to the person of your choice should you end up dying while the policy is in effect. There is no investment value attached though and you need to be aware of that fact. This means if you get to the end of the policy term and there is no claim then there is nothing the insurance company will be paying out on your behalf.

There are many things you need to consider when it comes to life insurance coverage. For example you need to have a good idea of how much coverage you should buy. If you will be covering a mortgage with the life insurance then you need to find out what the payoff is on that loan.

How long you want to be covered by the terms of the life insurance policy is also important. There is generally a requirement of at least two years by most companies offering such insurance. It is very common though for a person to select a period of time that is from 20 to 25 years. Keep in mind that your age at the time you get the policy should be considered as well. Most of the time companies won’t offer such life insurance to anyone that is more than 70 years of age. Those that will charge a very expensive monthly premium so make sure you have such coverage in place before you reach that age group.

Do you want to get coverage with your spouse or each of you individually? The answer to this is going to depend on your own circumstances. Take the time to fully explore what your options are so you can get the coverage with life insurance that is the best fit.

Do you want to have a policy that is guaranteed or that is reviewable? With the guaranteed policies you will have premium that costs more but it can help you in the long run to get the best deal. It may help you with your decision too when you learn that we automatically add terminal illness coverage for no extra cost to you. This means if you are going to die within a 12 month period then you will get a lump sum payment immediately rather than after you have passed on.

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Life Insurance Quote

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Testimonials Testimonials

"I would like to thank LifeInsurance.org.uk...
...for providing the excellent service they did for me. I was recently diagnosed with ulcerative colitis and it appeared that it would difficult for me to obtain affordable life insurance. Through their diligent efforts, I was able to obtain a quote that was actually less expensive than the premium I obtained prior to being diagnosed with this condition. The customer service was also outstanding. Mike always promptly returned my phone calls and made certain I knew the status of my application."
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I felt like I got the personal attention and expertise necessary to get the best life insurance policy for my husband and myself at the very best rates. You were always helpful, courteous, and knowledgeable, and always responded to my phone calls and emails promptly. I appreciate that, even after repeated questions, concerns, you never made me feel as if you were too busy to continue to assist me. All in all, I am very satisfied with your services, and would recommend you to anyone asking assistance in choosing life insurance. Thank you."
C.Z. - Canterbury

"Just a quick note to say thank...
...you for all the help that your company provided. I would like my thanks to be passed on for the professional and uncomplicated way this matter was handled by yourselves."
Name withheld

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Mr & Mrs Bulmer - Peterborough

"I am delighted with the service I have...
...received from Lifeinsurance.org.uk. I would like to thank my dedicated adviser for the excellent personal service, I have received regular feedback at every stage of my application for insurance. I would recommend this company to all my family and friends."
Ms Shaw - Nottingham

"Thank you for going...
...the extra mile for me & my family. I have recommended you to several people Simply because I think you care.
M.A. - Plymouth

I couldn't have been more pleased...
...and amazed with the service provided by Life Insurance UK! What a fantastic and refreshing approach towards obtaining life insurance with no pressure, no obtrusive phone calls, straightforward information and advice. A definite departure from previous experiences dealing with a consummate professional, rather than a salesman! Without any reservation whatsoever, I would highly recommend that anyone seeking advice on matters of life insurance visit the lifeinsurance.org.uk. You will be as pleasantly surprised as was I!"
G.P. - Stoke-on-Trent

"Very impressed with the service...
...the advisors are helpful and knowledgeable. We switched our term assurance policy application due to constant delays with the other insurer and being unable to speak to one person. I will certainly recommend Asda Life Insurance to friends and family."
Mrs. L. Peers - Southampton

"We saved over £40 per month...
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Mr Colin Murray, Newcastle