Life Insurance Plans
A life insurance plan will pay your family a lump sum of money in the event of your unexpected death. ActiveQuote's comparison system allows you to compare life insurance policies from a range of insurers in less than two minutes to help you find an affordable life plan- including Friends Life, Legal & General and Aviva- and you can even buy one of your chosen life assurance policies online. There are two main types of life insurance plan: term assurance and whole of life.
Term Assurance Life Insurance Policies
A term assurance life insurance plan will protect you until a particular date in the future. This date is chosen by you, and could be when your mortgage is due to be paid off, or when your children reach the age of 18. If you die within the life assurance policy term then your insurer will pay out, but if you do not die before the specified date then your life insurance plan will not pay out and you will not receive your premiums back again.
There are two main types of term assurance plan: level-term life insurance and decreasing term life insurance.
Level-Term Life Insurance Plan
A level term life assurance policy will pay out a lump sum if you die before a specified date. With a level term life insurance plan, the lump sum paid out on death remains the same throughout the term. Because of this, premiums usually stay the same as well.
Decreasing-Term Life Insurance Policy
Decreasing-term life insurance plans will also pay out a lump sum of money if you die within a specified time period. However, a decreasing-term policy will have a reducing lump sum over time. These life assurance policies are often used to cover a decreasing debt like a repayment mortgage. Because the money to be paid out reduces over time, these life insurance plans are usually cheaper than level-term policies.
Whole of Life Insurance Plan
A whole of life insurance policy will cover you for your entire lifetime, regardless of when you die. Because there is not a fixed term involved, the insurer will eventually have to pay out. Consequently, whole of life assurance policies have higher premiums than term assurance policies.
How to Buy a Life Insurance Policy
Rather than contacting all the insurers individually to compare life insurance policies, simply fill in the form at the top of the page and let ActiveQuote do the hard work for you. Our comparison system will search the market for life assurance policies and show you all life insurance plans from 11 different providers. Benefits of using ActiveQuote to find a life insurance policy include:
- Compare over 10 leading insurers online, including LV, Legal & General, Aviva and Friends Life
- Tailor your quotes so you only buy the cover you need
- Add or remove Critical Illness Cover with a click of a button
- BUY your chosen policy instantly online
Compare life insurance quotes online with ActiveQuote now.