Every one of us will, sooner or later, have the need for life insurance. The reason may be to cover a mortgage, to cover a loan, to provide cover for inheritance tax, or simply to provide adequate protection for your family and loved ones in the event of your death. Whatever the reason, this article will aim to guide you in the right direction to help you find the right policy for you.
First and foremost you need to decide what the life insurance cover is for. This is important as it will effect the type of cover you require. For example to cover a mortgage you would normally have term insurance. To protect your families standard of living you would probably have either term insurance or whole of life insurance and to cover an inheritance liability you may go for either or a little known plan called gift inter vivos.
Once you have decided what suits your circumstances it's time to go and find the best premiums you can obtain. There are several different ways to go about this. Firstly you could obtain your life insurance directly through a certified business, or you could enquire whether your bank could facilitate you, or you could seek the services of a financial adviser, or you could surf the net to get the deal you require.
The main point to remember is to be wary because some of the advice you will be given will not be from independent financial advisers who may not have your best interests at heart. This policy should benefit you and your loved ones.
The most obvious first stop is the life insurance company itself. This is often a popular choice as you can deal face to face with a company and it usually a company with which you are already familiar. However you should be aware that whatever quote you are given, that quote will be standard fayre and will have no leeway for special offers. Also, if you are dealing with a specific insurance company the only policies they will offer you will be from their own portfolio.
Banks are similairly attractive in that they are a familiar entity and you know exactly who you are dealing with. They are also similar in that they can only offer you products available from the insurance supplier they deal with which will be restrictive on your final choice.
Using a financial advisor can be extremely beneficial, but ensure that the advisor you use is an independent one. If not, you are in the same position as you would be with an insurance company or bank as they will only show you products available from the insurance company with whom they are associated. An independent advisor, on the other hand, will be able to trawl all the policies available from all providers and will use their expertise to advise you on the right policy to suit your individual needs.
This leaves us with the option of the internet to discuss. Now it should be stated from the outset that it is only really an option if you have already done your research and know exactly the type of policy you require, given your present circumstances and future aspirations. That done, a few minutes on the internet will yield an almost limitless range of options for you to choose from, from the comfort of your own home, and with as much time as you require. Also, you are more likely to get a less expensive policy online than you would through an insurance company because there is no middleman.
So to summarise, do your homework know what you want, how much and for how long. Find a route that works best for you. If you go on the internet use a site that will give you real time quotes from a range of life companies. Try not to use sites that just have a form and get back in touch with you with a list of quotes as they may want to try a hard sell on the phone. Above all if you need help click on the contact button on the site, most companies have qualified advisors available to discuss your requirements and it should not effect the premium so you may get the best of both worlds. - 15275
First and foremost you need to decide what the life insurance cover is for. This is important as it will effect the type of cover you require. For example to cover a mortgage you would normally have term insurance. To protect your families standard of living you would probably have either term insurance or whole of life insurance and to cover an inheritance liability you may go for either or a little known plan called gift inter vivos.
Once you have decided what suits your circumstances it's time to go and find the best premiums you can obtain. There are several different ways to go about this. Firstly you could obtain your life insurance directly through a certified business, or you could enquire whether your bank could facilitate you, or you could seek the services of a financial adviser, or you could surf the net to get the deal you require.
The main point to remember is to be wary because some of the advice you will be given will not be from independent financial advisers who may not have your best interests at heart. This policy should benefit you and your loved ones.
The most obvious first stop is the life insurance company itself. This is often a popular choice as you can deal face to face with a company and it usually a company with which you are already familiar. However you should be aware that whatever quote you are given, that quote will be standard fayre and will have no leeway for special offers. Also, if you are dealing with a specific insurance company the only policies they will offer you will be from their own portfolio.
Banks are similairly attractive in that they are a familiar entity and you know exactly who you are dealing with. They are also similar in that they can only offer you products available from the insurance supplier they deal with which will be restrictive on your final choice.
Using a financial advisor can be extremely beneficial, but ensure that the advisor you use is an independent one. If not, you are in the same position as you would be with an insurance company or bank as they will only show you products available from the insurance company with whom they are associated. An independent advisor, on the other hand, will be able to trawl all the policies available from all providers and will use their expertise to advise you on the right policy to suit your individual needs.
This leaves us with the option of the internet to discuss. Now it should be stated from the outset that it is only really an option if you have already done your research and know exactly the type of policy you require, given your present circumstances and future aspirations. That done, a few minutes on the internet will yield an almost limitless range of options for you to choose from, from the comfort of your own home, and with as much time as you require. Also, you are more likely to get a less expensive policy online than you would through an insurance company because there is no middleman.
So to summarise, do your homework know what you want, how much and for how long. Find a route that works best for you. If you go on the internet use a site that will give you real time quotes from a range of life companies. Try not to use sites that just have a form and get back in touch with you with a list of quotes as they may want to try a hard sell on the phone. Above all if you need help click on the contact button on the site, most companies have qualified advisors available to discuss your requirements and it should not effect the premium so you may get the best of both worlds. - 15275
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For more help and advice on which product, either whole life assurance or term insurance is best for you please visit us online. Our discounted quotes are obtained online and in real-time from a range of major insurers.
