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One of the factors that can make purchasing life cover so difficult is the fact that there are so many opportunities and possibilities out there. Many people find it difficult to determine which form of life cover is right for them. The purpose of this website is to introduce a variety of life insurance options to consumers, and to inform them of the facts which make certain forms of life cover better than others. In general, everybody requires a different level of life cover depending on their needs and the needs of their loved ones.

There are a myriad of different types of life cover to choose from. Which level of cover will best suit your needs?

Decreasing Critical Illness Insurance

Decreasing critical illness insurance cover typically is used in order to protect repayment-type mortgages. The amount of the insurance cover will reduce slightly every month over the length of the policy in correspondence with the reduction of the balance of your mortgage. With this type of cover you can choose the amount and how long the policy should run for.

During the length of the policy term, the amount of cover available will be reduced. The critical illness aspect of this cover policy will pay out the calculated amount of cover if you are diagnosed with a critical illness. There are a variety of covered illnesses, including heart attack, cancer, stroke and multiple sclerosis. This policy does not have a cash value, and is ended once the claim has been paid out.

Decreasing Term Life Insurance

This type of cover allows you to choose the amount of insurance that you want, and how long the policy should run for. The total amount of cover is reduced every month until the policy term is ended. The calculated amount is paid out at the time of your death, or the first death in the case of a joint policy. This policy does not have a cash value, and is ended once the claim has been paid out.

Decreasing Term Life Insurance & Critical Illness Insurance

With this type of cover, you can choose how much insurance you need and how long the insurance policy should be. If you are diagnosed with a critical illness or if you die during the term of the life insurance, the calculated amount will be paid out. The value of this term life policy decreases over time, and the policy is ended when the claim has been paid. Because of the nature of these policies, there is no cash value at any point.

Fixed Term Life Cover

This is a more traditional form of term life insurance cover, with a fixed amount that will be paid out upon the death of the insured person. Because it is term life cover, the cover is only offered for a specific amount of time. Some life insurance providers allow for term life insurance cover to be renewed, but the terms are almost always different the second time around. The amount of insurance does not decrease over time with this type of insurance cover.

Level Term Critical Illness Insurance

You choose the amount of cover that you want, and how long the term should last. Throughout the entire length of the policy term, the amount of cover offered will remain the same. If you become diagnosed with a critical illness during the policy, the full sum of the policy will be paid out. Critical illness insurance applies to a variety of illnesses including stroke, cancer, heart attack and multiple sclerosis among others. A policy like this has no cash value, and the policy is ended as soon as a claim has been paid.

Level Term Life Insurance

With this type of cover, you can choose how much insurance you need and how long the insurance policy should be. The amount of cover offered by this term life insurance policy will never change, and the full sum will be paid out when the insured person dies. If a joint policy is set up, then the policy is paid only when the first death occurs. This policy does not have a cash value, and is ended once the claim has been paid out.

Level Term Life & Critical Illness Insurance Cover

With this type of cover, you can choose how much insurance you need and how long the insurance policy should be. The amount of cover will remain the same until the point where it is paid out. This policy does not have a cash value, and is ended once the claim has been paid out. This policy covers both death and diagnosis with a critical illness during the term of the policy.

Mortgage Life Insurance

The goal of mortgage life cover is only to provide enough money to pay off the mortgage on a piece of property owned by the insured person. If during the term of the insurance cover, the insured person passes away, his or her mortgage will paid off but those are the only benefits that will be dispensed. This policy does not have a cash value, and is ended once the claim has been paid out.

Non Investment Whole of Life Assurance

With this type of cover, you choose how much insurance you want to purchase, and the amount of insurance cover will remain the same until you die. The amount of cover will generally increase in line with the level of inflation with Index-Linked policies. This policy does not have a cash value, and is ended once the claim has been paid out.