![]() This kind of policy runs for a set number of years and pays out if you die within the term. Types of life insurance include: Fixed or ‘term’ life insurance: ![]() Buying life cover is a big step and it’s wise to seek independent advice before committing to a policy. There are a number of different types of life insurance and the right one for you depends on your own personal circumstances. It’s a good idea to compare life insurance quotes with a number of providers to make sure your policy covers your individual circumstances at a price you can afford. Life insurance starts from as little as £5 per month, although lifestyle choices such as smoking could increase the premium. ![]() The amount of cover needed is based on factors such as the number of dependants and their ages, whilst premiums are calculated taking into account things details your age, your health and your lifestyle. Your policy will run for a set term, which could be until you retire or until your children leave home. Life insurance might not be needed if you don’t have dependants, although it is wise to look into other types of insurance such as critical illness cover and income protection insurance. Policies are available for adults between the ages of 18 and 80. Should you pass away, life insurance could enable your loved ones to remain in the family home and keep to a familiar routine, as well as providing the financial means for your spouse or partner to be at home with children for as long as is needed. A life insurance policy pays out a lump sum of money on the death of the policyholder, with the sum insured depending on agreed terms. ![]()
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