Understanding what Life Insurance Offers

Understanding what Life Insurance Offers

Ans: The biggest reason why you should have life insurance is so that your family is provided with a lump sum payment that is tax free upon your death. This has proven to be a very important type of insurance for people to have. In fact, any one under the age of 68 can apply for it. There are some companies that will allow you to get it up to the age of 70 but they are few and far between. This is one of the best ways that you can offer your family some security in your absence.

Many people have their life insurance policy associated with their mortgage. However, you don’t have to and in such an event you get to decide how much you wish to be insured for. You also get to decide the term that you would like to have the coverage in place for. Those factors will help to determine how much of a monthly premium you end up paying.

There is the option to get insurance when you have a mortgage though as a way to protect that investment. What will happen is that you need to get a dollar amount of coverage that is equal to what is still owed on the mortgage. As a side note, any time you are going with a repayment mortgage you should definitely have mortgage life insurance in place.

You will find that most of the life insurance that is offered also has a clause for terminal illness. This is generally a benefit that you aren’t charged anything extra for either. Should you end up being diagnosed with a terminal illness with less than one year left to live then you will get your lump sum payment immediately dispersed to you.

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Life Insurance Quote

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Testimonials Testimonials

"I would like to thank LifeInsurance.org.uk...
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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

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I couldn't have been more pleased...
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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