* Pay off any final expenses or personal debts like credit cards, car
loans or a mortgage
* Offset the loss of your income for those who rely on you for
* Contribute to the future education of your children
* Protect your estate by helping to pay the taxes due on an estate
* Leave a legacy to your favourite charity
Who should buy life insurance?
The purchase of life insurance is often associated with major life
events like getting married, buying a home, or having children.
However, if these don't apply to you ask yourself the following
questions. If you answer yes to any of them, you'll want to consider
* Does anyone rely upon you for financial support? Whether it's a
spouse, child, grandchild, parent or dependent adult, life insurance
will help them protect their financial well being no matter what
* Do you have a mortgage, or any other debts? If so, a life insurance
policy can provide a way to take care of these outstanding bills along
with any others like funeral expenses, legal fees and taxes, and
* Do you own a business?
o For sole proprietors, you're accountable for the debts your
business owes. If you do not have enough life insurance to cover
these debts, your personal assets could be liquidated to pay them off,
possibly leaving little left for your family.
o If you're in a partnership, a life insurance policy where the
other partner is the beneficiary means the surviving owner has the
cash easily available to buy out your portion of the partnership from
* Do you want to leave a legacy? Life insurance policies can be used
to leave money to your favourite charity.
How much will life insurance cost?
There's no such thing as a one-size-fits-all insurance policy.
Insurance professionals need to look at a lot of different things before
they come up with a final insurance rate. They'll consider your age,
gender, whether you're a smoker, and your past and current health
record and family history. Then they'll balance all that with the
amount and type of policy that you're applying for.
What types of life insurance are available ?
There are two main types of life insurance, level life insurance also
known as term life insurance and decreasing life insurance or
mortgage life insurance.
Level life insurance as it suggests is level cover that stays constant
during the full term of the insurance and a level lump sum pay out
would occur upon death. The sum assured is decided from the outset
of the policy.
Decreasing is most often used to cover a mortgage and works exactly
the same as level life insurance however the sum assured decreases
over the term of the policy this is ideal cover for a mortgage or any
decreasing debts that maybe paid off over a period of time.
Life insurance is now more accessible than ever with the advent of the
internet. The best online brokerages offer instant online quotes, thus
avoiding any hard sell tactics the industry was associated with in the
past. A good example of this is Unbeatable Quote UK if you visit their
website www.unbeatablelifeandcriticalinsurance.co.uk you will find an
instant online quote with generous discounts and an online
Address: 5636 Lemon Ave.
Dallas TX 75209
Phone: +1 214 5203694