Life Insurance Information by John Mussi
Life insurance is a personal insurance plan designed to pay out a sum of money on the death of the policyholder. Life Insurance is an insurance that is taken out against a persons life. It will pay out either a lump sum or monthly contributions to the “trustee” or next of kin in the event of the... Which life insurance company you choose can also have an impact on the level of premium required as different life insurance companies treat clients differently. ... The types of life insurance available include: Mortgage Life Insurance Designed to pay off your mortgage in the event of your...

Life Insurance and Life Assurance are Not the Same! by Michael Challiner
The average man in the street assumes that Life Insurance and Life Assurance are names for the same form of insurance. How wrong they are! But don't hang your head in shame, many financial commentators get it wrong too! Life Insurance and Life Assurance perform different financial roles and are... The differences are that with life insurance the size of payout would be preset whereas with life assurance it would depend on the guaranteed minimum and the insurance company's investment performance.

Critical Illness Insurance – Critical or Ridicule? by Rachel Lane
Critical illness cover (CIC) is a type of insurance which provides a significant one-off payment if you are diagnosed with a specified life-threatening condition – specified being the important term, because if your illness isn’t in the terms and conditions – you won’t get the payment. ... When you first purchase the critical illness insurance policy, there might be an option for buy-back insurance, this would permit you to buy additional critical illness cover or life insurance, typically at a minimal cost, after you have made a claim on your existing CIC policy.

Buying Life Insurance? One Tip to Save You Thousands! by Michael Challiner
It's simple, always have your Life Insurance policy “Written in Trust”. This may sound technical but it is easy to understand and it's so easy to organise. “Written in Trust” ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you... This advice remains sound even if the Life Insurance policy is designed to pay off your mortgage. ... Then the life insurance company pays out immediately, directly, and totally tax-free, to the persons you have named on your policy.

Life Insurance: Why There's No Need to be a Desperate Housewife by Rachel Lane
Life insurance looks set to make a comeback in the UK, after a period of neglect by consumers who were simply occupied with affording a home. The stabilising of the UK house market has made many consumers take a broader view to their personal finances. ... LifeSearch (a life insurance broker), in the September issue of Money Observer, highlighted a few common mistakes people make when buying life insurance: * Believing life insurance is relevant to everyone Life insurance is only relevant to people who have financial dependents.

Life Insurance Without Life Value: Why Young People Are Snubbing Financial Advice by Rachel Lane
This article is written by a 27 year old female (borderline Generation X / Y) called Rachel. Rachel spent six years at university, has no outstanding debts with the exception of government student loans. Rachel also has no pension plan, no life insurance, savings or property investment. ... It’s too easy to brand young people as apathetic just because they haven’t got pensions or life insurance. ... It’s true that products such as life insurance would at least protect our families from our debts and that’s important, but with regard to pension, who’s to say that in our old age, we may not...

Don't Underestimate the Importance of Critical Illness Insurance by Victoria Slotover
When a group of people were questioned in a recent survey about how important they thought it was to have critical illness insurance, a significant proportion said they thought it was unnecessary. When pushed further they explained that they thought it was unlikely that they would become... As the majority of critical illness insurance products cover common illnesses and given the statistical probability that you will critically ill at some point, it is a good thing to have. ... Critical illness insurance also gives them peace of mind that they will still be able to take care of their...

Mortgage Protection – Easing Your Biggest Concerns by Michael Challiner
OK, now you have a lovely new home and with it comes a lovely new mortgage. With the average mortgage advance standing at around £150,000 it's a long-term commitment to repay a lot of money. The repayments also take a fair slice out of your monthly income. ... You'll find these brokers if you search under “life insurance”, “cheap life insurance”, “life insurance quotes” or “Mortgage Protection Insurance”. ... The cheapest way to buy Critical Illness and Mortgage Life Insurance is again to buy a combined policy.

Life Insurance and the Law - A Layman's Introduction by Michael Challiner
There are no laws in the UK that require a person to have life insurance. It’s an entirely voluntary insurance. About 40% of the UK's working population are covered by life insurance either through their own policy or via an arrangement through their employer. ... You have to be a UK resident in order to buy a life insurance policy from a UK based insurance company. ... This is particularly important within the life insurance industry as the companies store significant amounts of very personal information about you – including your age, health record and life style.

Loan Payment Protection Insurance – Worth The Cost? by Joseph Kenny
Nowadays, every time you apply for a loan you will most likely be offered payment protection insurance. If you are taking out a particularly large loan, the idea may seem very attractive. These insurance policies will take over repayments on your loans in the event of losing your job or being... The basic advice here is be very careful if opting for expensive insurance policies. ... Every insurance policy varies, but one thing remains the same, it is very difficult to get an insurance policy to pay out.