Insurance Junction » Life Insurance

Life Insurance UK – Your Financial Shadow Over Your Loved Ones

James — Thu, 18 Feb 2010 21:05:59 +0000

Can anyone really afford to ignore life insurance in UK in today's times? The answer is 'no'. And it is this realisation that more and more people are going in for this essential life policy, which is there to protect those to whom your life makes a difference that is your dependents. You can take out this policy to seek protection for the ones for whom you are the sole earner in the family.

Life insurance in UK saves one from any financial hardships that one might have to face due to the death of an earner in the family. There are essentially two kinds of policies here. Term life insurance UK policy caters only for a certain term or period of time. Many people prefer a period of ten to thirty years. These are usually the working years of life, along the time when children are young and need special looking-after to raise them up and to pay for their education. In term insurance, as the period of coverage ends, the policy is considered invalid thereon, unless renewed. If not renewed, this is the end of the transaction between the insurer and the insured. Or you may go in for insurance with other insurers.

You may also avail to whole life insurance which offers it permanently, that is through your lifetime. This type is much more expensive and that too with a lower death benefits as a general rule, considering the 'old age' factor of the insured person and the inevitable health issues that the insured person is likely to face.

This policy also means paying yearly premiums until death. However, there can be an option to pay up all premiums quickly over a period of ten to twenty years and enjoy a lifetime of coverage as the while the policy stays in force. Another advantage with whole Life Insurance is that it is also a form of savings as the value of this policy can be cashed in or borrowed against, and thus this acts as an asset for the insured.

Allan Elvin is an MBA in Finance and has a rich experience of writing on topics related to finance. He professes special interest and expertise in Car Insurance uk and in guiding you on its various details.

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Being a new life insurance agent, what are ideal ways to enhance portfolio of life insurance customers?

James — Sun, 31 May 2009 17:22:32 +0000

ashok asked:

One year down the line in life insurance business, I feel lack of custmers affecting my growth. I’d like to grow my portfolio of customers using new ways to market myself. Till now I have used friends and relatives and past customer base as my target audience. How do I target the strangers market and how do I productively segment it.

What is the best life insurance company to work for with great commission?

James — Wed, 20 May 2009 08:54:14 +0000

Ms L asked:

What life insurance company is the best in the nation to work for and why? I am doing research and trying to figure out which life insurance company is best to work for or what is the best strategy working in the insurance field.

What type of life insurance do you have and why you have it?

James — Wed, 08 Apr 2009 20:02:08 +0000

Financial JUSTICE asked:

I used to own whole life insurance until I learned the hard way about the truth behind it. A life agent said cash value was a great way to build savings for retirement and that I can use it anytime. That sounded pretty great and so me and my husband bought it. About 28 years later, he died in an accident. The life insurance paid the death claim about 30 days after I filed a claim. But all the cash value was gone! With the cash value, I could of used it for my retirement.

So now I got rid of my whole life and paid a surrender charge on the cash value. The mortgage is paid off and no one is dependant on my income anymore. So I don’t need life insurance. I moved about $45,000 of cash value into various investments.

All I have to say to people buying life insurance is do your own research about life insurance before listening to life insurance agents.

Do life insurance companies check your medical records after you die?

James — Sun, 05 Apr 2009 10:42:20 +0000

Dick J asked:

Let’s say that you get life insurance and claim to be a non-smoker. Then let’s say that you start smoking or resume smoking. Assuming that your medical records show that you smoked, will most life insurance companies check your records, see that you smoked, and then cancel your benefit?

Life Insurance?

James — Tue, 31 Mar 2009 07:06:26 +0000

livinlife asked:

My husband, 32 and I, 30 are looking into life insurance. Can anyone tell me which company or websites I can use to get information. There are so many out there… wouldnt know where to start. Who do you personally use? Is there a medical exam involved? What type of premiums are you paying? Is it fixed or does it go up every few years? We live in Florida also. Any help would be appriciated.

How do I help families not see life insurance as a bill but rather protection for their family?

James — Sun, 29 Mar 2009 10:25:15 +0000

~Secretrose~ asked:

I am on a crusade to help families become properly protected (create an immediate estate) in case of a loved ones untimely death. Of lately, prospects see life insurance as another bill. Although it is; can any life insurance agent please share with me how they get around to making sales in the life insurance industry? Thank you.

What is the difference between accidental death life insurance and regular life insurance?

James — Sun, 01 Mar 2009 08:53:07 +0000

Sweetask asked:

What is the difference between accidental death insurance and regular life insurance? Which is a better buy? Wouldn’t all deaths (excluding illnesses) be accident? If you only buy life insurance and don’t include accidental death insurance then what is usually excluded? Thanks!!!
(I know its different for every insurance company, I am just wondering what generally the outcomes would be)

How can my husband open a life insurance policy?

James — Mon, 23 Feb 2009 04:28:19 +0000

mommy-to-be asked:

We recently found out we are expecting a baby and need to open a life insurance policy in case something would happen to him so we’d be taken care of. We have insurance that is paid for by his employer. How do we go about getting life insurance? Is it added to our existing medical insurance, or can we get it separately?

What exact is whole life insurance, and how do life insurance companies profit from selling it?

James — Sat, 21 Feb 2009 10:59:02 +0000

Alice Z asked:

Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid?

I have tried to do some research on my own, but I still can’t seem to fully understand this matter. Any help will be greatly appreciated!