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Guide to Life Insurance very important. Life insurance can be used in many ways, not just to protect a young family or repay a mortgage. It can be used to pay Inheritance Tax or protect business against the loss of a key individual. You can increase or decrease your cover at any time, add another life onto the policy and add other elements to the plan such as critical illness cover, income protection or mortgage protection. If your circumstances change you can increase your cover to make sure your family is protected. Life insurance creates an estate for your heirs. After your debts and expenses are paid, there may not be much left over for your family but life insurance can automatically provide assets for them after your death. There are several kinds of policies that may be available to you, if you are healthy enough. Smoking is detrimental to health and is a leading cause of life threatening illnesses. As a result smokers pay higher premiums than non-smokers as the risk of them dying early is greater. I f you smoke and do not declare the fact, you run the risk of invalidating your policy if you have to make a claim. It is a known fact that women tend to live longer than men. A female who insures herself using a 'level-term' policy is likely to have lower premiums than a male. This is based on the fact that females live longer and are less likely to claim during the period insured. Age is a factor in the successful application « Previous Page « » Discuss it » Continue Reading »
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