Choosing life insurance is not something most people enjoy – it is often a necessity that people buy once and then forget.
But there are plenty of life insurers in the UK to choose from and you can often make big savings on monthly premiums by shopping around. Our site helps search the market based on your own situation then give you a choice of policies to choose from – often saving you significant amounts per month.
Life insurance will payout upon your death to ease the financial burden on your family, often paying off the balance of your mortgage or other debts. This can significantly ease the burden on your family at a difficult time.
The two main types of life insurance are decreasing term and level term. The payout with decreasing term life insurance goes down over time, usually in line with your outstanding mortgage balance. Level term insurance pays out the same amount over the lifetime of the policy.
You can also choose life insurance with critical illness cover which will payout if you are diagnosed with certain critical illnesses. This option can be discussed with you so you can choose a policy that suits you.
You may also see life insurance referred to as life assurance. In general the two terms are used interchangeably – although assurance is distinct from insurance in that it means it covers a certainty rather than a possibility.