UK Life Insurance

2007-03-08 10:33:40

( Insurance )



UK life insurance will give your family financial security even after your death. If you get a UK life insurance, you will pay annual or monthly premiums that will later on be the fund for your life insurance.

There are different types of life insurance for people’s different needs.

Permanent or Whole Life Insurance

Permanent life insurance covers your entire life. This means that until your death, the life insurance is still valid and the life insurance company will pay whatever sum is in your life insurance. This is an expensive type of insurance plan but has the best benefits. There are several factors such as age, health etc. that determine the premiums you pay.

Term Life Insurance

Term life insurance is the most affordable life insurance plan. With term life insurance, you decide how long you are insured. You are insured as long as the specified time of term life insurance has not yet expired. The benefits of a term life insurance happen only when you die within the term. So after your term life insurance expires and you are still alive, you can just choose a renewable term life insurance. The same factors such as age, gender, health affect the monthly premiums of a term life insurance.

Since the permanent life insurance is expensive, most people just avail of the term life assurance policies. If you are on a budget, taking a term life insurance is better than no life insurance at all. You can just choose the term of your life insurance which can be up to 30 years. You can also choose a convertible term life insurance so that you can change your life insurance when you can afford a permanent one.

Most people make sure that they have some form of life insurance. UK life insurance guarantees a better future for your family.


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