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Tips for getting life insurance
Do's
- Buy life insurance if you are providing for your family,
otherwise how will they cope financially if you die early?
- Work out how much cover you will need
– most people insure for about two-thirds of their
salary.
- Work out how long you want to be covered for –
until the mortgage is paid off and the kids left home,
until you plan to stop working or for the whole of your
life?
- Consider taking out a joint policy with your partner
which will pay out on the event of the first death.
- Shop around for cover.
Don’ts
- Don't get life insurance if you are single or have
no dependents. Critical illness or income
protection will be a more appropriate policy for you.
- Don't lie when you take out the policy. Answer all
questions honestly. If you lie about
being a smoker, for example, the insurer can refuse to
pay out on the event of your death regardless of whether
smoking was the cause.
- Don't just go for the cheapest policy.
Instead, find one that meets your needs.
- Don't get life insurance from your mortgage lender
when you take your mortgage out. They will probably offer
you a policy but cheaper cover can normally be found elsewhere.
Read On
What is life insurance?
Who needs Life
Insurance?
Who provides life
insurance?
Types of life insurance
How much does life insurance
cost?
Tips / Do's and don'ts
for getting life insurance
Summary of Level
Term Insurance Policies
Would you like to get
a quick free quote now?
To get your best UK
life insurance quotes you need to shop around.
A good way to do this is to get a quote from an IFA
or specialist insurance broker. They have software which
tells them instantly what the best deal is for you.
If you don't know a good broker we can put you in contact
with one via our quick
enquiry form This quote is free and there is no
obligation at all to proceed with anything.
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