Life assurance – policy types part 2
As stated in part one - getting life assurance isn’t as simple as it might first seem. Below we will continue to look at the different types of policy on offer so you can make the right decision.
Can we save you money on your life insurance or critical illness?
|
|
 |
 |
Life assurance – part one recap
In part one we looked at; what life assurance is; the insurance premiums you can expect to pay compared to term insurance and what a ‘with profits life assurance’ policy entails.
Life assurance – policy types
The next two types of life assurance policy we will look at are; ‘unit linked whole of life assurance’ and ‘universal whole of life assurance’.
Unit linked whole of life assurance involves a mix of cover and investment. Insurance premiums are partially used to invest in chosen funds and investment growth will largely depend on the performance of said funds and how much of the fund investment is ‘deducted’ to pay for life assurance. There may be an initial charge for the setup of this type of policy and the insurance premiums are usually reviewed after a period of time, (i.e. ten years).
Universal whole of life assurance is usually linked to a whole life plan with options to ‘cancel’ units in order to buy:
Life assurance – not all provides are created equal
It’s important to be aware that in the world of life assurance not all providers are the same – not all of them will offer all of the policies mentioned above and if they do they may have different names. The important thing to remember is to look at the fine detail of all the products on offer before you commit – this way you will ensure you get a life assurance policy that is right for your circumstances.
Choosing life assurance cover
With a plethora of life assurance policies to choose from online it is often difficult to know which one to pick. Established in 1995; Jump Money have been helping people like you protect their family’s financial security should the unexpected happen for over a decade. For more information on their great range of products and services why not give one of Jump Money friendly staff a call on: 0845 8516262. Or alternatively take a look at the website at: www.jumplifeinsurance.co.uk for life assurance cover online.
Return to Jump Life Insurance articles index
Get a free online Life Insurance quote | Get a free online Critical Illness quote | Get a free online Mortgage Protection quote | Get a free online Income Protection quote | Return to the home page