Which is the best life insurance for your particular situation?
Finding the best life insurance these days is a greater challenge than ever. Many insurance providers are making all kinds of special offers, some of which may not be in your best interests in the longer term. Meanwhile in the online world, comparison websites are offering policies with no life insurance advice to help you with your choice. Finding the best life insurance cover on your own is, at best, a gamble. Acting without good advice really is a case of ‘fingers crossed’!
At Principle First, we give you the security of knowing you have found the best life insurance. We are independent advisers who can look at the whole market to find the best life insurance for you. We can show you the best life insurance policies from a wide range of companies.
An adviser at a high street branch office, on the other hand, is a tied adviser, limited to telling you about their own, small range of life policies.
Ask us to search the market today, to find the best life insurance for you! Make an online insurance enquiry or ring 0800 678 5929 now.
Obviously we will compare prices from the various providers, when we provide you with life insurance quotes in relation to the best life insurance policies.
How much cover do I need?
Use our simple online life insurance planner tool to work out how much life cover you need.
Our Principle First team can also provide a life insurance calculation to tell you how much your cover should be.
We will also provide life insurance advice to ensure that, from the types of insurance available, you have the best life insurance for your particular situation.
Finding the best life insurance for you
There are various types of life insurance, principally intended for 1 of 2 purposes: to clear a mortgage debt, or to preserve your family’s lifestyle, in the event of your death.
When seeking the best life insurance to cover your mortgage, we can provide life insurance quotes for ‘decreasing term insurance’. This is where cover reduces gradually, in step with the balance owing on your mortgage. At every stage, your insurance cover is equal to your outstanding mortgage balance and, when your mortgage is finally paid off, the insurance expires. This is generally a cheaper form of life insurance, as there is a good possibility that it will never have to pay out.
The best life insurance specifically to provide money for your family, on the other hand, is ‘whole of life’ cover, which pays out at the end of your life.
The best life insurance is written in trust
Once you have identified which is the best life insurance policy for you, our team can give you life insurance advice on writing your insurance policy in trust. This ensures a quick payout to your loved ones, and also helps protect your insurance from a possible Inheritance Tax liability of 40%.
If you are married, it may be worth taking out separate policies for you and your spouse. For a little extra, you double your cover, and the surviving partner is still insured, after the death of the first.
Some of the best life insurance policies have ‘guaranteed insurability options’. These are good to have, as they allow you to raise your cover if you wish to do so in future.
Another feature of the best life insurance policies is ‘terminal illness cover’. This gives you an early payout if you are diagnosed as having 12 months to live, and can be a significant help at a very difficult time.
Review to check you still have the best life insurance
It is also wise to talk to your financial adviser at least once a year, to check you still have the best life insurance cover, from a cost point of view. Insurance premiums have fallen in recent years, and what was the best life insurance 10 years ago could be available now for less – despite the fact that you are 10 years older!
Contact the Principle First insurance team for best life insurance quotes today. Make an online insurance enquiry or ring 0800 678 5929 now!
