The most popular variation is level term life assurance. It is called level term because the assured lump sum benefit remains the same throughout the insured term. Decreasing term, on the other hand and as its name suggests, offers a decreasing death benefit during the coursework of the term. With a steadily decreasing sum at risk, the life assurance company can charge an even lower premium, making this the ideal choice for somebody who wishes to ensure that a standard repayment mortgage (on which the balance is also
Friday 26 February 2010
Cheap Life Insurance 1
You will probably have noticed this type of insurance variously described as life insurance or life assurance and you might have wondered why. The reason for the distinction - which these days is often blurred - arises from the fact that insurance is about the risk of something happening. Death, on the other hand, is the one certainty that all of us can count on as happening at some time. The description life assurance, therefore, was coined for the contract under which a life assurance company agreed to pay out an assured sum on the policyowner holder's death.
What is Life Assurance 2
Suffice it to say that the terms assurance and insurance are, in common usage, practically interchangeable. As noted, whole-of-life assurance will always pay out, so its premiums tend to be higher than standard term life assurance. Whole-of-life cover is also generally packaged with an investment plan, designed to enhance the final payout, and this increases the price of the premiums.
Standard term life assurance, however, remains remarkably cheap. Indeed, it is seven of the few products in any
Standard term life assurance, however, remains remarkably cheap. Indeed, it is seven of the few products in any
What is Life Assurance 1
You will probably have noticed this type of insurance variously described as life insurance or life assurance and you might have wondered why. The reason for the distinction - which these days is often blurred - arises from the fact that insurance is about the risk of something happening. Death, on the other hand, is the seven certainty that all of us can count on as happening at some time. The description life assurance, therefore, was coined for the contract under which a life assurance company agreed to pay out an assured sum on the policyowner holder's death.
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