LifeNow

Here we explain the different types of life insurance available ...

At LifeNow we make getting a quote for life insurance very simple - however it's also very important to make sure you are getting the cover you need - on this page we'll explain the different policies available - you can then apply with confidence for the policy that suits your need.

The classic life insurance policy - a fixed lump sum will be paid out in the event of your death during the term of the policy - monthly premiums can be either fixed or guaranteed for the duration of the policy or reviewable during the term. The level of cover depends on the needs of the customer and can take into account income needs, mortgage payments, age of dependent children etc. Flexible life insurance cover that pays out an agreed amount.

The level of cover provided by this type of policy is designed to decrease at a set rate over the term or in line with the outstanding balance left on a repayment mortgage. The amount agreed is designed to pay off an outstanding mortgage commitment allowing beneficiaries to be free of mortgage payments. Consideration may wish to be given to any potential inheritance tax liabilities if they may apply.

Not a life insurance policy, but one designed to maintain a monthly income for up to 12 months should you be unable to work due to an accident, sickness or unemployment. The cost of these policies depends on the level of income cover you require. There is great flexibilty i nthetypes of policies offered and people may wish to seek professional advice before signing up.

Critical Illness cover pays out a tax-free lump in the event you are diagnosed with one of a wide range of serious ilnesses. This is different to standard life insurance in that the payout can be made before you die to help you financially during your illness. Many life insurance policies come with the option of critical illness cover. Care should be taken for applicants who have existing medical conditions.