UK Life Insurance Facts

Insurance involves transferring a risk that you bare, onto an insurance company, so that you no longer have

Hot Topics

Can I get an Instant Quote for Life Insurance?: No - not through this website, because we believe that to get the right life insurance, you need to talk to a professional.
What is Whole of Life?: A Whole of Life Assurance policy has no predetermined termination date and it will continue in force until the policyholder dies or they surrender the policy.
Are there any fees or extra costs to pay?: If you are purchasing life insurance through our product partner, Life Policies Direct, then there will are no fees or other costs to pay
Complaints about misleading advertising on the Internet: If you believe that a web site is misleading then you should contact the Advertising Standards Authority.

to worry about the event occurring. While you pay a fee, or premium for this, what you get in return is peace of mind. So what is the risk that you are transferring with life insurance? Well, quite simply, it is the financial risk of your own death. It should also be remembered that it is in ( secured loans ) certain circumstances possible to insure the life of another person, such as your husband or wife, or an important employee. The insurance company will then pay out to the named beneficiary once the event occurs, and this is usually a family member or business associate of the insured.

The thing that insurance companies will be looking for is insurable interest. It may come as a surprise but in the early days of aviation, there were some clever entrepreneurs who would hang around at airports and buy life insurance policies on the passengers. Since plane crashes ( cheap life insurance ) were very common, a good proportion of the insured passengers died and the insurance companies were faced with the prospect of paying out vast sums to these men.

Page 2