Whole Life Insurance – Taking the bacon
Buying whole life insurance is an investment that can be costly, so if you decide whole life insurance is right for you, you need to ensure you get the lowest premiums around. Most life insurance policies are term assurance, which means you’re covered for a fixed period. Whole life insurance covers the whole of the policyholder’s life. The reason whole life insurance is more expensive is because of the certainty of the pay out. With term assurance, many people outlive their policies, but with whole life insurance, the pay out is assured.
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Whole life insurance – Financial planning
If you’re opting for whole life insurance to maintain your family’s standard of living after your death, then you’ll still want to find the cheapest deals around. More and more life insurance companies are rewarding vegetarians with cheaper premiums for their whole life insurance cover and when you read the latest health news, giving up red meat, bacon and sausages could be a factor more and more life insurance companies take into account when selling their whole life insurance policies.
Cut the bacon for your whole life insurance rates
Scientists have revealed recent research that says we need to cut out processed meats such as bacon, ham and sausages if we want to avoid the risk of bowel cancer. Fry ups and hot dogs are thought to boost the risk of cancer. The research could have a big impact on the future of whole life insurance policies. But some are sceptical saying the results are not as simple as cutting out bacon and ham. The fact is the people who tend to eat more bacon and processed meats are more likely to smoke or drink and have a bad diet in general. Exercise regimes also play a significant role blurring the results. It’s possible that a whole host of lifestyle factors play a part - not simply eating too much bacon. But one thing is clear, if you want to reduce your whole life insurance payments, you need to ensure you are in good health. Much of the advice on reducing the risk of cancer or heart disease is common sense – such as maintaining a well-balanced diet with plenty of fruit and vegetables, plus not smoking and not drinking to excess.
Establishing whole life insurance premiums
However further study could reveal more concrete evidence and links to meat eating and cancer. The recent research was the biggest-ever study into the link between diet and cancer, but there is still a long way to go. No doubt as scientists uncover more about the links between diet and health, the insurance industry will begin to take their findings on board when it comes to establishing whole life insurance premiums.
Jump Money Limited is a specialist in life insurance and is happy to answer any questions you may have related to life insurance, life assurance, term insurance and life cover. The company will strive to fit an insurance package to the exact criteria you need in order to help you avoid buying products you do not need as well as helping you fully understand your purchase. To find out more about how Jump Money Limited can help you protect yourself and your belongings call now on 0845 851 6262 or fill in an online quote form today.
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