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Why buy Life Insurance?
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You probably think getting life insurance will be expensive, you don't know where to start or whom to trust. Lifepro has been providing the best life insurance deals since 1999. We are here to help. If you don't have life insurance now - the basic level of cover everyone should consider is a term life insurance policy! Term life cover is probably the simplest and most cost effective life insurance buy. The earlier you start, the cheaper it will be - some term life policies are renewable, some will be reviewable after a period of time. The cost of level term life insurance - the sort where the premiums do not increase - will, over time, appear to dwindle as a percentage of your (hopefully!) increasing wages. Just a sample of the life insurance providers we use for
instant quotes But why do I want life insurance when I have...?Already got life insurance? Have Life cover from work? Thinking of moving abroad? Whilst term life policies don't have any surrender value, they do provide death cover for your loved ones and the cost can be very affordable. The right cover, at the right price, right now! |
Search the leading life insurance providers - online - and see just how cheaply you can cover yourself - and protect your family's future. We shop around - so you don't have to... |
Joint or Single Life Policy? When considering your life policy options - you may consider a joint life policy. What makes a joint life policy attractive, is that it is likely to be cheaper than two single policies. However, the down side is that the policy only pays out on the death of one of you - rather than single policies, where each policy pays out on one person giving two potential payouts. Joint policies come in two flavours,
First Death and Last Survivor. Last Survior pays out when the second insured dies and First Death, obviously pays out when the first insured dies. Which you choose needs a bit of thought. When are you mostly likely to need a payout? What if the first to die is the person who makes the least money; what would the situation be if that person was the main breadwinner? Are you taking out a life policy to cover a mortgage or to replace the income the deceased was bringing in? Do you actually need one policy each?
If your policy is to protect a repayment mortgage or other loan you may want to consider Mortgage Life Insurance also known as Decreasing Term Assurance where the cover reduces in line with the mortgage and expires when the mortgage is finally repaid.
If your policy is to protect an interest only mortgage or other loan where only interest payments are being met, you may want to consider Level Term Insurance, where the cover will remain constant throughout the term and expire when the mortgage is finally repaid.
If your policy is to protect your dependants, you may want to consider Level Term Assurance, where the cover will remain constant throughout the term and can be set to expire when your dependants reach an age of non-dependency.
Alternatively a Family Income Benefit plan can be used to provide a regular tax free income to your dependants, rather than a one off lump sum.
Think about writing your policy into a life insurance trust - which is an easy and sensible way way of ensuring the benefits will be paid directly to your dependants without waiting for probate and avoids Inheritance Tax.
Note: the term insurance and assurance are used interchangeably - assurance being the traditional term for insuring a human life.
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Life Quotes, UK Mortgage Protection Insurance - .Lifpro Life Insurance UK authorised introducer of Life Insurance
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I want a lump sum to be paid out to my family or me if I die
or fall critically ill
