A common worry about life insurance is the extra cost. If you are looking to set up either a new policy or get a better deal on your existing one it is worth noting that, according to research from Sainsbury’s, the average cost of life insurance has fallen for the second year in a row. This research suggests that the average life insurance premium has decreased – regardless of factors such as gender or if you are a tobacco user. In a world where the cost of living seems to be increasingly more expensive this is welcome news, as life insurance can provide peace of mind and could prove invaluable to your family if the worst should happen. Read more

There are several factors that can influence the cost of a life insurance policy. Your age, any medical conditions – your own and your family’s medical history – and whether or not you are a tobacco user will probably have the biggest influence on cost. Other factors that impact on the price are your gender, whether or not you are a home owner, your BMI (Body Mass Index) and your occupation. There are other, more obtuse factors that can also affect the cost; for instance any hazardous hobbies, and whether you regularly travel to unusual places.

As well as these factors what will ultimately dictate the cost is the type of policy you opt for, the length of the policy and the type of cover. There are 3 main types of cover available: level, increasing or decreasing. Read more

As you weigh up the options to help find the right life insurance policy for you, one of your concerns could well be whether or not you are going to need a medical examination before beginning your policy.

The answer to this depends on certain factors such as your age, existing or historic medical conditions as well as the amount you wish to be covered for. In many cases you wont need any form of medical at all. However, even if the insurer does ask for a medical, it is usually a simple and quick procedure. Read more

Life insurance is one of the most important financial protection products available, offering you the ability to protect your loved ones future should something happen to you. There are a large range of policies available depending on your requirements, and you can find cover to pay for funeral expenses, leave money behind to pay for your loved ones lifestyles or even provide you with the funds to pay for private medical care should you become critically ill.

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One option when buying UK Life Insurance is to add critical illness cover. Most life insurance policies will pay out a lump sum to your loved ones in the event of your death, but what if you are diagnosed with a life-limiting illness? It may be that receiving a tax free payment before you die would be a big help to you and your family at a very difficult time. Read more

Critical Illness Life Insurance

Critical Illness Life Insurance is intended to pay out a cash lump sum if you die, or if you are diagnosed with a critical illness before you die. It is a fact that you are much more likely to suffer a serious illness than to die before you are 65. Many people have life insurance, but few also take out critical illness cover too. In the sad event of you being seriously ill, it can make life much more bearable. Read more

Decreasing term life insurance is also called mortgage life insurance. This is because it is designed to pay off your outstanding mortgage should you die during the term of the insurance. This will take the pressure off your dependents, who will no longer have to pay off the mortgage.

It is called decreasing term because the amount paid out if you die decreases over time. This should be in line with your outstanding mortgage, so that the amount paid covers at least the outstanding mortgage amount. Read more

There are two main types of life insurance: level term life insurance and decreasing term life insurance.

Level Term Life Insurance is designed to pay out a fixed sum upon your death to your family. Over the term of the policy (for example, 20 years) it will pay out a particular sum (for example, £150,000) upon your death. It is, of course, an insurance policy that you hope will not have to pay out. Read more