Free Quote

Types of Life Insurance Policies

Save money on life insurance policies

  • 100% free quote
  • Life Insurance Policy Experts
  • Save a massive 40%
Life Insurance Logo

Types of Life Insurance Policies

Getting a life insurance policy arranged is a smart move for anyone, and when you finally get around to doing it then you will probably feel that it is a weight off your mind. However, there is one last step to take before you go ahead and get a quote, and that is to work out exactly what kind of life cover you want to get.

Term Insurance

This is the most common kind of life insurance and the low cost is one of the main reasons for this. It is often tied in with a mortgage or loan and runs for a fixed period of time. If the insured person dies in this time then the proceeds of the policy are used to pay off their loans or to benefit their heirs. A joint policy can also be taken out which means that one of the partners receives the money if the other one dies during the term of the insurance. If the person who is insured survives to end of the term of the insurance then it simply ends and nothing is paid out. It can either be with a level premium throughout the entire period of the policy or else with a premium which increases with the renewal each year.

Whole Life Insurance

The big difference here is that the policy is guaranteed to pay out, as it covers the whole of the insured person’s life. This means that it is generally a good deal more expensive than the type of term life cover we just looked at. Another feature which many of these types of policy have is that money can be drawn from them before the death of the insured person. This means they are often looked upon as providing both the peace of mind of an insurance policy and the value of an investment.

Which One Is Best?

The type of life insurance policy you choose will largely depend upon the reason you have for taking it out. If you need to cover the amount of a loan in a cost effective way then you will probably want to look at term life insurance quotes. However, if you are planning ahead for your retirement and would like to be prepared as much as possible then you might like to take a look at whole life insurance policies to see if one of these maybe suits your needs.

Free Quote

How can we save you up to 40%

If you don't find the best joint mortgage protection deal now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only specialise in joint mortgage protection. Easily search over 400 policies and find your best quote. Complete our short form to get started.

Start Here
Instantly get 400 quotes

Data Protection ActPowered by SecureRights™