- Critical Illness Insurance. Do you really need it, or is it a waste of time?
- There is a 1 in 5 chance that a man will suffer a long-term critical illness before his normal retirement age. So why isnt critical illness insurance more popular? This article investigates the reasons and reinforces the importance of this form of insurance.
- Life Insurance. Why does less than half the UK population have cover?
- There are still lots of families without life insurance cover. This article investigates the reasons.
- Life Insurance. Why does less than half the UK population have cover?
- There are still lots of families without life insurance cover. This article investigates the reasons.
- Group Critical Illness Insurance - The cheaper alternative to Keyman Insurance.
- If your business has found Keyman Insurance to be too expensive, take a look at Group Critical Illness Insurance. At around half the price it's a snip.
What types of life insurance are available ?
If you are considering purchasing life insurance, an overview of the available types should prove helpful. This article will briefly discuss the difference between whole and term life insurance, as well as some variations on whole life insurance.
(Mortgages)
The easiest way to understand the difference between whole life insurance and term life insurance is to look at what is meant by their names. When you purchase whole life insurance, you are covering your "whole" life - as long as you own the policy, it will (mortgages) pay a benefit when you die. What that benefit is depends on the value of the policy at the time of your death, but you own the policy even if you are no longer making payments on it. Whole life also accumulates a cash value on a tax-deferred basis. In addition, whole life can pay dividends throughout the life of the policy.
(Remortgages)
Term life insurance, on the other hand, is purchased for a certain term, or period. As long as you die within that period, term life insurance will pay an agreed upon amount to (Secured loans) your beneficiaries. It will not pay if you cease to make payments or if you die after the term has expired. In addition, term life insurance has no cash value. Page 2 (Mortgages)