We all know that if you have dependants or a mortgage, then it makes sense to take out life insurance – however, as there are so many different types of life insurance to choose from, it is always a good idea to get life insurance advice.
Choosing and getting the right life insurance policy is of the utmost importance – after all, this policy will help repay the mortgage and / or other debts after your death, ensuring that your partner and family will not be left with financial difficulty to add to their grief.
There are plenty of life insurance policies out there such as index-linked or joint life, and with varying premiums and understandably it can be confusing knowing which policy is right for you.
So where can you get life insurance advice? You can get advice on life insurance from a number of places, such as your bank, a financial adviser or other financial organisation. You can also use the internet – it can be great for research and there are plenty of websites where you simply fill in a short form and someone will get in touch to see what your needs are etc. They will then make suggestions for the type of policy most suitable for you.
You can also get life insurance quotes online too, to give you a good idea as to how much it would cost to get insured. Most of these websites will give you an immediate online quote - free and without obligation - so that you can get a feel for how much your premiums will be.
You should remember, however, that until you complete an application form any quotes are for guidance purposes only and they could change once you have completed a full application. However, if this does happen and you are not happy with what the premium will be, you do not have to proceed with the policy.
On a final note, when applying for a life insurance policy, do always tell the truth on your application form no matter how negative you feel it might be. For example, if you are a smoker or a heavy drinker and you don’t disclose your full medical history, you may get cover that may not be valid should someone need to claim. What this means that should you die and it transpires that you did not disclose facts when completing your application form, the insurers legally don’t have to pay out your claim – not a good situation for your loved ones to be in.
When taking advice on life insurance, your can always ask for assistance when you decide to go ahead with a policy and complete your life insurance application.
First of all, life insurance premiums are now up to 40% cheaper than they were a few years ago due to advances in medicine helping us all to live longer, so now may be a good time to either check your existing arrangements or take out a policy.
It is always a good idea to get several life insurance quotes before applying for a policy. This is because premiums - even for the ‘cheaper’ type of policies - can vary from provider to provider, so by getting a life insurance quote first, you can shop around for the most competitively priced life insurance policy.
Jason Hulott is Business Development Director of Protection Insurance. Protection Insurance is an internet based insurance business dedicated to getting consumers the very best insurance rates and the best products. We have a range of free insurance guides Download them here
By Jason Hulott
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