Finance and Business UK

Life insurance

Life insurance companys

Finding out more about life insurance needn't be difficult. You know why you must have it - to protect those you love if the worst happened to you. Often its difficult for people to talk about dying - very few people under the age of 50 talk about their funeral arrangements and what they want to happen to their estate.

The two main types of life insurance people are familiar with are:::

Term insurance, Which will provide life assurance for a fixed term.
You pay premiums every month for the period of the term - and you only get money if you die during this term.

Whole of life policies - you pay premiums in order to provide for the payment of a lump sum on death at any time. May often contain some investment value.

Cheaper whole of life policy, there is the non profit policy, with a guaranteed sum assured payable on death, but no investment value

Some companys are starting to look at ways of giving you cheaper life insurance if you prove that you are less of a risk by eating well and exercising regularly.

These promotional discounts are being offered by a small number of companys at present but we are sure that the number of companies offering these will increase as time goes by.

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