Understanding Life Insurance Cover

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Understanding Life Insurance Cover Powered By Docstoc
					                                              Presented by Daniel Toriola


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                                              Who Needs Life Insurance Cover?
                                                        By Gemma Stanbury



   If you are single and have no family or dependents, life insurance cover is something you may
probably put to the bottom of your list of financial needs. Conversely, anyone with any dependents and
especially someone with a family is likely to have such cover right at the top of essential safeguards for
his or her loved ones. Life insurance cover, for example, could help to ensure not only that your
children get to finish their education but that other surviving dependents are also financially protected.

 Life insurance cover is one of those relative rarities in the world of insurance – it is simple, straight
forward, and can be keenly priced. Indeed, life insurance must be one of those very few things in this
world of constantly escalating prices, where the cost of the premiums has actually reduced in the past
decade or so.

 The reasons for the attractive pricing are largely the result of a huge growth in the variety of life
insurance policies available and the extremely keen competition in the market place. A common form
of life insurance is level term insurance. Under such an agreement, the insurer agrees to pay the same
(i.e. level), assured lump sum benefit if the policy holder should die during an agreed period of time
(the term).

 The length of the term is at the discretion of the policy holder and might be chosen to coincide with
retirement age if the insurance is being used to protect a spouse or until the completion of full-time
education, for example, if children are involved. Naturally, the shorter the term, the lower the risk
assumed by the insurer and, therefore, the cheaper the premiums will be.

 In an equally straight forward way, the greater the degree of protection, or the bigger the lump-sum
payment, the more expensive will the premiums be. The aim, generally speaking, is to ensure that
dependents are not saddled with the debts of the deceased, so life insurance cover is intended to pay
off any outstanding debts and to provide surviving family members with a reasonable standard of living.

 Of course, certain things will increase the risk of the insured dying within the term of the life insurance
cover. If the person seeking insurance is already fairly well advanced in years, have a poor state of
health, smoke, and are engaged in a high-risk occupation or indulge in hazardous sports, they could
expect to pay a considerably higher premium than the person who falls into none of these categories.


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                                                                                                                Page 1
                                                Presented by Daniel Toriola


 In addition to level term life insurance, there is also decreasing term life insurance, which, as the name
suggests, reduces the level of benefits payable with each succeeding year of the term – and is
therefore a useful way of covering a repayment mortgage, where the amount of mortgage debt
outstanding also decreases on a year-by-year basis.

 For those wanting to ensure that the benefits payable will also reflect the changing rates of inflation
there are also increasing term and index-linked forms of term insurance.

 Given the variations in life insurance cover available, there is almost certainly likely to be one to suit
anyone’s needs and circumstances.

http://Confused.com (http://www.confused.com) is one of the UK’s biggest and most popular price
comparison services. http://Confused.com helps consumers save money on everything from car
insurance to Mortgages.




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                                               Presented by Daniel Toriola


                                            Finding The Right Life Insurance Cover
                                                           By Mike Armstrong



Nowadays, there are a lot of insurance companies on the market. With this overwhelming number, it
can sometimes be hard for you to find the life insurance cover of your choice. You can consider many
life insurance cover quotes. Some have different levels of cover and others have many extras, which
you may somehow be unsure if you actually need. So, if you are incapable of getting the life insurance
cover which suits you best, you may use a comparison website or an online broker to get your needs
sorted out.

Normally, an online broker, in most of the cases, may be able to find a life insurance cover that will
meet your needs. Contacting an online broker for your life insurance cover can be considered as a
wise idea. Many online brokers may show you online comparisons with the other life insurance
products on the market. Visiting the online brokers’ websites may as well enable you to search for the
exact type of life insurance cover that you want. A search about life insurance cover online will
undoubtedly return you thousands of results. So, you could be sure that you would most certainly get
numerous life insurance cover quotes for free due to competition over the market.

Moreover, remember that you as a customer have the upper hand on the numerous insurance firms.
For this reason, it is important to compare as many life insurance cover quotes as possible. It is your
right to refuse to do business with an insurance company. However, you should be careful enough not
to get caught by scam artists who will lure you towards an unsuitable life insurance cover. To get the
best deal for your life insurance cover, it can be useful to visit price comparison websites. Such
websites will search a large amount of insurance providers, hence providing you with the price range
which you are ready to pay for your life insurance cover.

Furthermore, life insurance cover is a very important type of insurance, especially if you have a family.
Therefore, while applying for your life insurance cover, it is vital that you understand the whole process
completely. You need to be fully aware about the amount you would pay as premiums. Also, when
applying for life insurance cover, you may need to have a medical examination or a certificate from
your doctor confirming your health status. The insurance company will then use this certificate to
determine the amount of premium you have to pay each month for your life insurance cover.

It could as well be a definite advantage for you if your life insurance cover includes protection for
children. In this case, as long as you will be protected, your children as well will be protected. Life
insurance cover will provide financial security in the future, should death occur. If you are unsure
whether the life insurance cover you have chosen is best for you, then you could always seek the
advice from a professional to make sure you are on the right track.


For more information about Life Insurance and Life Insurance Cover please visit
www.unbeatablelifeandcriticalinsurance.co.uk.




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                                                Presented by Daniel Toriola




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