What is Life Insurnace
Life insurance or sometimes called life assurance is a contract between an insurance company and a person or group of people e.g a married couple.
If the insured person were to die in circumstances covered by the policy, the insurance company would payout a lump sum or an income for a set period of time (depending on the policy taken out) to the deceased estate or partner.
One of the most commen reasons for life insurance to be taken out is to cover an outstanding balance on a mortgage. So iIf the insured person were to die the remaining balance of the mortgage would be met.
There are many variations on the types of life cover avalible and it is important to take specialist life insurance advice if you are looking at insuring your self or your family.
Life Companies
"Having the right level of life cover can help provide peace of mind"