|
 |
|
|
UK Life Insurance
The internet will help you find competitive rates for different types of basic life insurance products. On some sites you will be able to enter your personal details and needs and a comparison of costs and outline terms are available in an instant.
The market has expanded and with more providers competitive rates for similar products are available provided you shop around. The difference between the highest and lowest quotes can be significant.
In some cases applications can be made on line and provisional underwriting agreed. The cost of Life insurance is calculated based on your age, state of health, the term and amount of the policy and other factors. However it is vitally important that you complete the application form honestly and accurately as it forms part of the contract with the insurance company. If subsequently it is discovered that misleading or false information has been supplied an insurance company will be within its rights not to pay out the sum assured.
Insurance Regulation
Consumer protection is provided under the Financial Services and Markets Act 2000 which seeks to regulate investment contracts such as personal pension plans,whole life and endownment policies,and any unit linked investments.
The FSA does not regulate Term Assurance and other simple life products which do not contain an investment element and these products can be sold to applicants via the internet and are relatively cheap as they are sold on an execution only basis which means that no advise has been requested nor given concerning the suitability of the product.
Disclaimer: If advice and guidance is sought on any life insurance or investment product then an Independent financial advisor should be used. Find Life Insurance does not offer advice nor make specific recommendations in respect of life insurance cover and other financial products. The site seeks to assist those applicants who know what they are looking for to achieve product and price comparison from some of the many life insurance providers.
Other Sites
Life insurance advice and company information on All Money Matters. - For all your life insurance information and more come to All Money Matters.
|
|
|
|
