What is life insurance?
This is a type of insurance cover that safeguards you against life’s uncertainties. It provides a dependable source of financial protection for you and your family.
Factors that determine premiums
- Lifestyle Factors such as job risks, how much you drink and whether or not you smoke.
- The level of cover that you need
- Personal details such as you rage, gender, level of education, income and health status.
How much life insurance do you need?
This will be determined by a number of factors, such as how much it would cost to settle any outstanding debt, cost of income replacement as well as future obligations.
Types of life insurance cover you can get:
- Life cover
- Severe illness cover
- Disability cover
- Income protection
- Education protection
Life insurance quote tips:
A good average for life insurance quotes is between four and seven.
The search should not be limited to the cost of the quote. You should consider if you are getting good value at a reasonable price.
You should make sure that the life insurance companies you compare are offering you simplicity, convenience and affordable solutions. They should also give you the flexibility to deal with them via your channel of choice.
When you are looking for life insurance quotes, you need to look for a company that will charge you a lower premium while also giving you maximum benefits.
Most insurance companies offer life insurance in two forms:
- Whole Insurance, which is cover for the lifetime of the policyholder
- Term Insurance, whereby cover remains in place for a specified period
Most policies have a premium guarantee term, which means that there is no increase for a specified period of time.
Many companies will provide li