Life Insurance and the Law. A layman's introduction.: This article is an introduction to the regulatory and legal aspects of buying Life Insurance which the layman should find interesting and useful. Special reference is made to buying life insurance on the Internet.
Critical Illness Insurance. Critical or Ridicule?: An introduction to one very valuable form of life insurance called critical illness insurance.
Critical Illness Insurance. Critical or Ridicule?: An introduction to one very valuable form of life insurance called critical illness insurance.
Group Critical Illness Insurance - The cheaper alternative to Keyman Insurance.: If your business has found Keyman Insurance to be too expensive, take a look at Group Critical Illness Insurance. At around half the price it's a snip.
Critical Illness Insurance. Are your children insured?: Ensure that your critical illness policy automatically covers your children. This article explains why it's so important.

Brokers Online offers cutting edge articles and information about Life Insurance, Life Cover and Life Assurance. Other products include Secured Loans, Remortgages and much much more.

When should you buy life insurance ? Part 2

Term insurance

The most common form of life insurance is term life insurance. This form of life insurance is cheap, and you pay a set amount each month for the term of the agreement. You work out how much you want your family to receive in the event of your death. If you stop paying the monthly payments you lose all the money you have put in, and if you are still alive at the end of the term then there is no payout. This form of life insurance is cheap but does not guarantee payout.

Whole life insurance

The other most common form of life insurance is whole life insurance. Basically, you are insured for your entire life. The amount you pay is put into an investment fund, with (

mortgages

) your premiums usually remaining the same for the first few years before going up. This type of insurance is more expensive but has the advantage that payout is guaranteed.

Other factors

Before you get life insurance, make sure that you work out exactly what (

secured loans

) sort of cover you need, and look at any other factors that will affect the price. If you smoke or have poor health then some insurance policies will charge more. Whatever type of life insurance you get, it pays to get insurance as soon as you can and for as much as you can afford.