Click Here For More Specific Information On:
Term Life Insurance Quote
by
TermlifeinsuranceTerm Life Insurance
The term life insurance forms the foundation of all life insurance policy. In this type of life insurance policy, the policyholder needs to pays a constant or fixed premium over a particular amount of time. Suppose if the policyholder dies within the specified period then the insurance company will pay the guaranteed money to his family members. When the policyholder didnt die within the specified period, then the coverage will get vanished.
The person who can apply for term life insurance
Since the life insurance policies are associated with dead, which makes many of the people to get scare. Some of them refused to take the insurance policy because they thought that if they are alive then they can be worth for more dead. It is not mean that if they take the insurance policy they will die soon. Life insurance policy is mainly to provide financial security to his family members when the person is no more. Suppose if you think that there are no other person to financially support your family members after your death then you can buy a life insurance policy.
If you are a single person and if you didnt have any child or any other dependencies then you can simply avoid term life insurance Otherwise it is advisable for you to buy the term life insurance.
Merits of
Term Life Insurance UK
There are several advantages of term life insurance. Some of them are listed below
It provides a financial support to your family members when they need it after your death.
Depending upon the policy, it can either be convertible or renewable.
It gradually increases annual premium as you get older.
Demerits of Term Life Insurance
There are some of the disadvantages in term life insurance. They are listed below
It doesn’t provide you permanent life insurance protection.
Different types of Term Life Insurance Policy
There are different types of term insurance policies are widely available. Some of them are listed below.
Level premium term insurance
Decreasing term insurance
Renewable term insurance
Convertible term insurance
Annual renewable term insurance
Term Life Insurance Quote
Term life insurance is inexpensive and most financially efficient form of life insurance for most young and middle-aged people. The premiums on term life insurance policies are relatively very small when compared to other life insurance policies and the probabilities that the young and middle-aged people will die is also very small .Term life insurance policy provides a coverage for specified amount of time usually it ranges between 10 and 30 years.Term life insurance policy is suitable for many of the people because they can select a term that will cover them during their time of the greatest financial need.
Example quotes
This example is taken from the resource
http://uk.virginmoney.com/virgin/life-insurance/examples.jsp
How much cover you get for your monthly premium depends on your age and health at the time of application etc. To give you an idea, here are some examples.
Examples are based on 100,000 of level cover and assume you’re in good health.
Male
Age*Smoker?Cover amountTermMonthly premium
30No100,00020 years7.50
35No100,00020 years8.70
40No100,00020 years11.90
30Yes100,00020 years11.80
35Yes100,00020 years15.60
40Yes100,00020 years23.90
Female
Age*Smoker?Cover amountTermMonthly premium
30No100,00020 years6.50
35No100,00020 years7.40
40No100,00020 years9.60
30Yes100,00020 years10.00
35Yes100,00020 years12.70
40Yes100,00020 years19.00
*Age next birthday.
Rates correct as of 22nd October 2008
You can get
uk trem life insurance
quote online from a number of providers. Here in the UK, term life insurance quotes can be obtained from Legal and General. Buying a life insurance policy is a popular way to help protect your loved ones financially. L&G offer two types of life insurance, level term assurance and decreasing term assurance. People also do refer to it as life cover and life protection.
Article Source:
eArticlesOnline.com }