| nsurance offers you an opportunity to ensure the | | | | partnership from the estate. |
| financial security of your family and loved ones, no | | | | * Do you want to leave a legacy? Life insurance |
| matter what happens. Life insurance can be used to: | | | | policies can be used to leave money to your |
| * Pay off any final expenses or personal debts like | | | | favourite charity. |
| credit cards, car loans or a mortgage | | | | How much will life insurance cost? |
| * Offset the loss of your income for those who rely | | | | There's no such thing as a one-size-fits-all insurance |
| on you for financial support | | | | policy. Insurance professionals need to look at a lot |
| * Contribute to the future education of your children | | | | of different things before they come up with a final |
| * Protect your estate by helping to pay the taxes | | | | insurance rate. They'll consider your age, gender, |
| due on an estate upon death | | | | whether you're a smoker, and your past and current |
| * Leave a legacy to your favourite charity | | | | health record and family history. Then they'll balance |
| Who should buy life insurance? | | | | all that with the amount and type of policy that |
| The purchase of life insurance is often associated | | | | you're applying for. |
| with major life events like getting married, buying a | | | | What types of life insurance are available ? |
| home, or having children. However, if these | | | | There are two main types of life insurance, level life |
| don’t apply to you ask yourself the following | | | | insurance also known as term life insurance and |
| questions. If you answer yes to any of them, | | | | decreasing life insurance or mortgage life insurance. |
| you’ll want to consider life insurance: | | | | Level life insurance as it suggests is level cover that |
| * Does anyone rely upon you for financial support? | | | | stays constant during the full term of the insurance |
| Whether it’s a spouse, child, grandchild, parent | | | | and a level lump sum pay out would occur upon |
| or dependent adult, life insurance will help them | | | | death. The sum assured is decided from the outset |
| protect their financial well being no matter what | | | | of the policy. |
| happens. | | | | Decreasing is most often used to cover a mortgage |
| * Do you have a mortgage, or any other debts? If | | | | and works exactly the same as level life insurance |
| so, a life insurance policy can provide a way to take | | | | however the sum assured decreases over the term |
| care of these outstanding bills along with any others | | | | of the policy this is ideal cover for a mortgage or any |
| like funeral expenses, legal fees and taxes, and | | | | decreasing debts that maybe paid off over a period |
| medical expenses. | | | | of time. |
| * Do you own a business?o For sole proprietors, | | | | Life insurance is now more accessible than ever with |
| you're accountable for the debts your business owes. | | | | the advent of the internet. The best online |
| If you do not have enough life insurance to cover | | | | brokerages offer instant online quotes, thus avoiding |
| these debts, your personal assets could be liquidated | | | | any hard sell tactics the industry was associated with |
| to pay them off, possibly leaving little left for your | | | | in the past. A good example of this is Unbeatable |
| family.o If you’re in a partnership, a life | | | | Quote UK if you visit their website you will find an |
| insurance policy where the other partner is the | | | | instant online quote with generous discounts and an |
| beneficiary means the surviving owner has the cash | | | | online application. |
| easily available to buy out your portion of the | | | | |