Life Insurance Compare
Compare life insurance from as little as £5 per month*…
…fast and easy quotes from the UK’s top life insurance companies
*depending on personal circumstances
Term and Whole of Life Insurance
There are two types of life insurance, term insurance and whole of life insurance.
Term insurance, or protection only insurance, is the cheapest type of life insurance cover and guarantees a payment of a fixed amount should you die within a specified period of time. If you survive the term generally no payment will be made.
Whole of Life or investment insurance covers you for the whole of your life rather than a fixed term and pays out on your death. Whole of life insurance is similar to any other financial investment tool and can consist of bonds, endowments or other investments that are designed to grow over time. The amount paid on your death depends on how well the investment has performed.
With both types of policy you pay a monthly or annual premium. This premium may be fixed or variable again depending on the type of cover you select.
You can also purchase life insurance to cover outstanding mortgages or loans should you die before they are repaid. This is similar to term life insurance except the amount of cover reduces over the duration of the term to match the outstanding amount of the mortgage or loan that is insured. If you survive the term no pay out is made.
How To Buy Life Insurance
When comparing or buying life insurance (also referred to as life assurance) you should shop around to find the best premium and should also ensure the policy covers your requirements. There are many types of policy available and you need to make sure you fully understand what each policy covers, what administrative charges apply, how risky an investment policy might be, how much flexibility exists in the premium schedule and the return you can expect.
Over 50s insurance cover or specialised policies for those with pre-existing medical conditions are two cases where you may need to hunt around extensively before finding the right deal.
For any requirement other than basic term life insurance it is always better to seek advice from a qualified and FSA (Financial Services Authority) approved insurer before you settle on a policy. Only buy from insurers or insurance brokers regulated by the FSA. Such insurers are obliged to provide you with standard format documents that fully explain any insurance policy being offered.
For simple term insurance is usually okay to use a life insurance comparison service to find the cheapest premium. Because the term and premium is fixed and the condition of pay out is your death it becomes a simple case of cheapest is best. But if your requirements or circumstances are more complicated it is better to speak to an impartial expert.
How To Compare Life Insurance
Are you looking for the best deal for term life insurance? Do you want to compare the rates of the top life insurance companies in the UK?
Get a fast and simple comparison for term life insurance. Rates are as low as £5 per month depending on your individual circumstances plus you will be safe in the knowledge you are dealing with one of the UK’s leading insurance brokers.
Even if you have an existing life insurance policy why check to make sure you are paying the lowest premium? Compare life insurance now to see how cheap and easy it can be to protect your dependants.
*depending on personal circumstances
Disclosure
Life Insurance Compare is a web site designed to provide information about life insurance and how you can find a qualified insurance expert who will be able to offer you financial advice. Life Insurance Compare does not provide financial advice and all the information found on this web site is provided for informational purposes only.
Some of the links on Life Insurance Compare lead to insurance brokers or direct insurers. If you follow these links or if you purchase an insurance policy as a result of following these links we may be compensated by the insurer. This does not affect the premium you will pay and neither does it affect any of your consumer or statutory rights. You should always read the terms and conditions and privacy policy of any insurer you are considering purchasing an insurance policy from.
Life Insurance Compare is intended for residents of the United Kingdom only.