"Investing in term life insurance earlier in life enables you to benefit from lower rates and builds financial stability for you and your family's future."
(PRWEB UK) 6 January 2012
UK consumers are coming to terms with the fact that 17% of deaths occur before the age of 65. Despite the harsh economic conditions, many young adults are turning to term life insurance as the affordable way to safeguard their families’ future. Term life insurance is the cheapest way to ensure the financial impact of an early death to dependents is as small as possible, and can be used to cover mortgage expenses, credit card debts, a child’s university education and to compensate for lost income.
1. Buy young – Those who are young and healthy will receive the lowest quotes, so consider buying early to ensure low rates for as long as possible. They are also likely to have a lot pay for, with a new mortgage and with young children.
2. Extras – Consider anything else that may need to covered for – extras can be added to ensure families can cope in the event of the breadwinner being diagnosed with a critical illness.
3. Type – Annual renewable, level term, increasing/decreasing life insurance – consumers should research the different types of term life insurance to get the most suitable one and to know exactly when premiums will be reviewed
4. Debts – Policies should pay enough to cover any existing debts, such as mortgages and credit cards, and still leave enough to compensate for the loss of income. The policy must be affordable but 6 to 10 times the annual income is recommended
5. Shop around – Always compare suppliers to find the most suitable policy, at the best price
Termlifeinsurance’s quote service gives users access to all of the top deals, comparing 100s of policies from the very best insurers to find the best price available. The service is designed to be simple to use, finding the most suitable policy whilst saving both time and money. Each quote is free, non-committal and completely bespoke, tailored to each user’s individual circumstance and budget, giving piece of mind and protecting families’ futures.