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Is there any investment value in your policy?
No. Once the term is completed the policy simply ends. It’s a bit like car insurance!
Hot Topics
- Life Insurance - why do you need it?
- You may want Life Insurance to provide some financial protection for the family or to cover the payment of an Interest Only Mortgage.
- Is there any investment value in your policy?
- No. Once the term is completed the policy simply ends. It’s a bit like car insurance!
- How long should you insure for?
- For mortgage protection purposes you should also insure yourself for the same number of years that are remaining on your mortgage. The initial sum insured should always equal the capital sum outstanding on your mortgage.
- Should you include Critical Illness cover on your Life Insurance policy?
- You should certainly consider taking out Critical illness cover whether you combine it into your Life Insurance policy (which is by far the cheapest way to buy both insurances) or you take out separate policies (which gives you far more protection – see below).
- What is the Difference Between Critical Illness Insurance and Terminal Illness insurance?
- Critical Illness Insurance is much more comprehensive than Terminal Illness cover.
It is worth being aware that Life Insurance is different from Life Assurance. A Life Assurance policy combines a guaranteed sum insured with a form of investment. The longer you pay in the more you hope your policy is worth.
The monthly premiums for Life Assurance can be quite steep.
A Frequently Asked Question related to the above topic.
Click below if you wish to read it: -
- What is the difference between Life Assurance and Life Insurance?
- Which optional extras are important ?
- Do you have to buy your Life Insurance through your mortgage lender or mortgage broker?
- Go to menu of Frequently asked Questions about Life Insurance
- Go to menu of Frequently asked Questions about Mortgage Life Insurance
- Go to menu of Frequently asked General Questions