Archive for the ‘ Life Insurance ’ Category

Life insurance provides vital financial support to your children when you are no longer there to care for them yourself. It is usual to assume that if you have put the correct insurance into place, your kids will have no financial worries at a time when money should be the last thing on their minds.
Life Insurance Written Into Trust
However, if your life insurance becomes part of your estate when you die, all the funds contained within it will be subject to probate. This could mean that your children have to wait up to six months to be able to claim the funds you have left them, even if the estate is completely uncontested.

Furthermore, if there are issues with the will or their claim is disputed, the time it takes for them to benefit from the arrangements you have made can be considerably longer.

Such a delay in payment could severely impact any member of your family. Consider how they will support themselves or continue with their own lives if they cannot access the funds that you have left for them.

In addition, any claim on the estate has to be made through a formal charge. Such a process can take further time but can also incur significant fees which eat into the nest egg that you thought was going directly to them.

Also don’t forget, any funds included within an estate are subject to inheritance tax. This means the total value of your fund could be eroded by as much as 50% before your kids even see a penny.

However, there is a quick and easy solution which solves all of these problems. All you have to do is fill in one simple form.

How to Place Your Life Insurance into Trust

By placing your life insurance into trust you can effectively ring fence the money that has been allocated to your family members.

It will protect them from long time delays before they are able to receive the money and will negate all probate fees. In addition, the funds contained within the trust will avoid your estate entirely and will therefore not be subject to any inheritance tax.

Simply by filling in the relevant form, you can directly nominate the people you’d like to receive the benefits from your policy. This will enable your beneficiaries to be paid, quickly and directly so that they receive all the benefits that you had intended for them.

Furthermore, this process should cost you nothing at all. Here at Insuranet we will offer this service completely free of charge. So if you are considering taking up life insurance, then ask us for your policy to be placed into trust for those that you really care about.

If you already hold an insurance policy, talk to your provider and ask them to send you the relevant forms so that you can make the arrangements now.

Putting your life insurance into trust is not difficult, time consuming or expensive but the difference it can make to your children is unforgettable.

To speak with one of our friendly advisers about life insurance and trusts, please call us on 0800 799 9330 or visit our life insurance comparison page here.

Useful resources:
The Law Society website explains the process of Probate –

Life Insurance With High Blood Pressure

High blood pressure, or hypertension, is a very common condition in the UK where an individual experiences consistently increased blood pressure levels over a long period of time.

In the UK alone the National Health Service estimate that one quarter of all adults have high blood pressure that might benefit from treatment. And for those over the age of 60, this statistic rises to approximately half of all people living in the UK.

Life Insurance With High Blood Pressure

Here at Insuranet we have many years experience in arranging life insurance for people with high blood pressure

Though a potentially serious condition if left untreated, most people with hypertension can manage their situation effectively through a mixture of exercise, diet control and medication. However, as with any serious medical condition, such a situation can have a severe impact on your ability to find the right insurance policy. But it can be done!

Shop Around

The most important thing to do when you suffer from any medical condition is to ensure that you search the market and find the most suitable policy for your own personal situation.

Many standard insurance companies can offer life policies to people suffering from high blood pressure while other companies specialise in offering cover for those with hypertension.

Internet comparison sites can give you an indication of premium costs, but it is only when you drill down into the finer detail of your own personal situation that you can truly understand what the terms will be.

For a clearer picture of the range of policies available, please contact us as we have extensive knowledge of a broad range of policies and can guide you through the process.

Read the Fine Print

When buying life insurance with high blood pressure, the key to a high quality policy is in the fine print. Make sure you are fully aware of the exclusions of the contract and any extenuating circumstances that will not be covered. Protection may depend on regular medication or other personal circumstances, and these should be clear before you take up the cover.

If you have any concerns about anything within the terms of the policy then please talk to us as we will be able to walk through the paperwork with you and help you understand the finer points of the policy.

Be Honest

A significant proportion of life insurance claims that are rejected are due to incorrect information being included on the application form. This can be due to deliberate fraud or a complete oversight on the side of the applicant. So make sure your policy is going to be valid when you need it the most.

Though you may think that withholding information makes insurance cheaper, if you have paid years of premiums only for the claim to be rejected after you have gone, your policy just becomes a very expensive piece of paper with no benefit at all.

Be Flexible

If your insurance company requests further information either by way of access to your medical records or via a specific medical investigation then agree whenever you can. The more information your insurance provider has, the more tailored your policy will be to your own individual situation.

Providing supporting evidence to your answers or taking the time to complete further questionnaires can ensure all qualifying factors are met during the application process and actually make your premiums lower than you would think.

For those that say you cannot get life insurance if you have high blood pressure, we say you are wrong. High quality, well priced policies are available for many people who suffer from this common condition and, with the right advice, it is possible to find the one for you.

Please see our dedicated high blood pressure life insurance page here for further details.

Alternatively you can compare quotes here.

Being diagnosed with hepatitis or any other serious illness can be incredibly distressing for anyone. And, knowing how to move forward from such news is difficult.

However, the most important thing when it comes to existing life insurance after being diagnosed with hepatitis is not to be too hasty.

Life insurance with hepatitis

Speak with us first before canceling your life insurance after being diagnosed with hepatitis

Though rumours will tell you that people with hepatitis cannot be insured and that your existing policy is now void, this is not necessarily the case. Furthermore, those with existing policies when they are diagnosed could well be in a better position than they first thought.

The hepatitis disease affects the function of the liver and can be either a temporary or permanent condition. Many people will carry hepatitis for years without actually ever having symptoms, while others will require constant medication.

Just as the condition varies greatly, so do the implications to your life insurance policy. Only by carrying out the following steps can you ensure that you get the most from the policy you already have.

1. Get Your Facts Straight
The first thing to do when you have been diagnosed with Hepatitis is to understand the facts. There are three distinctive types of hepatitis and ascertaining which strain you suffer from is key to the way you move forward.

Once you have found out whether you have hepatitis A, B or C, then the next step is to establish your specific severity and what can be done to alleviate the symptoms. In addition, you must understand the likely duration of the illness and what, if any, implications there are on your long term health.

2. Start Talking
The sooner you can start talking to us about your new medical situation the better. Not only are you required by law to advise your insurance company of any changes to your personal circumstances, but talking with us will help make you understand how you can move forward.

If you have a temporary form of hepatitis which was contracted through the process of a normal, healthy lifestyle then it is likely that there will be only minor changes to your life insurance policy, if any. Some companies may adjust the exclusion clauses within your contract or may reassess your premiums. However, the policy will still be in place.

If you have more chronic symptoms or a potentially life threatening form of hepatitis, then the insurance company may not be as willing to renew your contract. However even this isn’t the end of the road. There are still other companies who specialise in offering life insurance to hepatitis sufferers that will be able to help.

Your insurance company may require further information from your medical records or via a medical. If you can, always agree to such investigations. It will help the insurance company gain a clearer understanding of your situation and ensure your life insurance policy is tailored to your individual situation.

3. Get Some Advice
If there are any changes to your policy or your insurance company fail to provide continued protection, then please contact us for advice. Talking to one of our experienced protection advisers that specialises in life insurance for hepatitis sufferers will help you understand your options.

We can help you understand the implications of the changes requested and highlight any alternative policies that could offer better terms for the future.

Above all, do not cancel your policy until you have further cover in place. If your existing life insurance policy has been in place for some time it may still be the best solution moving forward even in your new situation.

Whatever the situation, the key to maintaining effective life cover is not to panic. Keep calm and think clearly and you will find that things may not be as bleak as you first thought.

If you would like a friendly, no obligation chat with one of our advisers then please call us on 0800 799 9330 or fill in our online enquiry form.

For further information about hepatitis please visit the NHS website here:

The need for life insurance in today’s society is obvious to most. Thanks to the ever increasing cost of living, many dependents simply cannot survive if they are not adequately provided for within the appropriate insurance arrangements. But for many, affording life insurance can be a challenge, especially if the insurance companies themselves are reluctant to take you on.

Smokers life insurance

The Effect of Smoking on Life Insurance Premiums

One key sector of individuals that insurance companies are particularly wary of are smokers. When cigarettes were first invented they were actually marketed as a health choice and adults of all ages were actively encouraged to start smoking. However, we now know that smoking is not only unhealthy but can actually increase your chances of contracting some serious illnesses and decrease your life expectancy, which is why a lot of insurance providers are looking the other way when a smoker wishes to apply for life insurance.

For those companies that still do provide life insurance for smokers, the cost of the premiums can be exceptionally high. One study carried out in 2012 showed that life insurance companies can charge individuals who smoke up to four times as much for the same life policy, simply because of their habit. But there are ways to ensure you are getting the best value for money.

How To Reduce Premiums On Life Insurance For Smokers

Obviously a smoker can easily reduce their life insurance premiums in the long term simply by stopping smoking. After only 12 months without cigarettes there is the potential to see great improvements in an individual’s overall health which means less risk to the insurance company and therefore lower premiums.

Though a past smoker may never reduce their premiums to the same level as a consistent non smoker, once you have given up for more than 12 months it is worth contacting your insurance company and negotiating an improved premium based on your new situation.

However, as a smoker, you don’t have to wait a year to start improving your life insurance premium costs.

The first step is to shop around. Don’t settle for the first policy that you find. By using an online life insurance brokerage such as ourselves to compare the range of policies available, it may be possible to significantly reduce your premiums immediately. Remember, if you are changing your life insurance provider, you must ensure your new policy is in place before you stop your existing cover to ensure that you are continually protected.

Furthermore, if you are asked to go for an insurance medical, always agree. The risks of smoking on your health and life expectancy are considerable but they do vary from person to person. If you feel that your level of health is above a normal smoker, providing evidence of this could reduce the level of perceived risk that the insurance company have to take to insure your life and therefore may reduce the overall cost.

Above all be honest.The major reason life insurance claims are declined is because the information provided by the applicant was inaccurate. Even if you get the cheapest smoker’s life insurance possible, if your dependents cannot benefit from your investment, then any premiums you pay will all be for nothing.

For further information please visit our smokers life insurance page.

There are many situations when a joint life insurance policy can be cheaper than paying out for two separate policies, making it seem the most attractive option.

However, before taking out a joint life insurance policy consider the following points and ensure that you make the decision that is going to be right for you.

Single or joint life insurance

1. Who Should Be Protected

Though joint life cover is held in the names of both individuals, it is only valid on a ‘first death’ basis. This means that as soon as one policyholder has died, the insurance provider will issue a payment and the cover will immediately expire. This leaves the second policyholder with no protection at all, even though they have been paying premiums for years.

Such a policy could be ideal for those with a mortgage that simply want to pay off their debt and have no further funds available to them. However, if such a policy has been taken out to provide protection to children or other dependents, then the benefit of joint life cover can be severely lacking.

Furthermore, if a remaining policyholder then decides to take out a single life insurance policy, they will find that their increase in age and possible deterioration in health may mean future premiums could be significantly higher. Therefore the benefit of paying joint cover for years has amounted to nothing. Only by having separate policies is it possible for every individual to have the personal cover they require.

Please note that here at Insuranet we can arrange a ‘second death life insurance policy’ which would pay out on the death of the last remaining partner. If you are at all unsure which type of policy is best for you then please feel free to speak with one of our friendly adviser who can talk you through all of the options.

2. The Level of Cover Required

An individual life insurance policy is based on the cost of replacing your contribution to the home, should you no longer be able to provide it yourself.

However, for joint life insurance policies, the level of cover provided is equal for both parties and is usually calculated on the amount required to replace the income of the higher wage earner.

This means that the partner that requires a lower value of life insurance will pay premiums for a level of cover that is simply not needed. In addition, if the main breadwinner adds extras such as critical illness to his policy, both parties will be charged for the same additions, creating further unnecessary expense across the policy as a whole.

Always assess the level of cover required for each individual policy and ensure no on is paying for more or less cover than they need.

3. The Level of Risk

The cost of life insurance premiums is calculated in direct proportion to the risk associated with protecting the life of the applicant. However, in the case of a joint life insurance party, the level of risk is calculated jointly rather than in terms of each individual person.

Should one partner have a lifestyle that is deemed risky or, have a medical history that puts them in a higher risk category, both applicants will be priced according to this maximum level.

When it is clear that the risk associated with one life insurance applicant is significantly higher than the other, separate life insurance policies may turn out to be considerably cheaper and provide better all-round protection.

Author Bio:  This article was written by Steven Keogh who has worked in marketing within the financial sector for many years now. For further details please visit his Google+ page.

There are many advantages of Critical Illness Cover as a form of Life Insurance, however, it’s important to understand why there’s the need for an additional private healthcare insurance policy in the first place. In the UK many people rely on the state to look after them in the event that a health issue arises. A person also hopes that an employer understands, should an illness suddenly develop, and that their position in the company will remain open.

Critical illness coverOnce an illness is diagnosed, especially one that is life threatening, many will worry about the illness itself rather than having to pay the bills or trying to stay in work. The stress of a sudden diagnosis can affect people mentally but it’s the financial strain that many forget to insure against. Indeed it’s said more people have insurance for their pets rather than critical illness cover for themselves.

Both aspects of life insurance cover and critical health insurance are a form of protection for you and your family. Whereas the former pays out a lump sum of money should you pass away and will help your family financially. The cover won’t help you in the event anything occurs before you die. This leaves the policy itself a little wanting.

The Benefits Of Critical Illness Cover
The benefits of having specific insurance cover should you be diagnosed with a serious illness far out weigh any reliance you have on the goodwill of an employer, or that of relying on the state to keep you and your family financially secure in the short term. Critical illness insurance provides for a cash pay out when an illness as described in the policy details is ascertained.

Life cover is a hidden reality of the modern age. The important part of any insurance policy is to ensure it benefits you or your loved ones when required. Statistics suggest that one in three people will be diagnosed with a type of cancer. The cover also pays out on heart attacks, stroke or kidney failure. It’s worth comparing illness insurance, some insurers pay out only on severity, others a percentage of the lump sum due depending on a sliding scale.

While not many wish to consider becoming ill and claiming, the ability to pay the bills, the mortgage, receive an income for the duration will obviously be of help and that’s exactly what critical illness cover aims to achieve. There’s surely a kind of irony that one would only insure one’s self against death and not an illness which you may well recover from and live several years after any serious illness diagnosis is given.

Critical health insurance can be merged with other insurance policies to provide better cover for your situation. While a lump sum is typical, an insurer can also payout an income over a given period or pay an amount to reflect the decreasing term on a mortgage. Once again, life insurance only pays out a lump sum on your death, a critical illness insurance policy helps you and your family get through a tough period while you fight to stay alive.

There is however, one more point when considering an insurance policy to cover serious illness and it stands out as a reminder to always read the terms and conditions of any policy. Some critical illness insurance policies only payout if you survive 28 days after diagnosis. In which case, there’s an argument for having both types of insurance running simultaneously.

Life Insurance Premiums To Rise In 2013

The ongoing cost of both health and life insurance could rise by up to 30% in 2013 as a set of newly created tax rules are fully expecting to hit insurance profits.
Life Insurance Premiums Set To Rise
For the first time in over an estimated 10 years, the cost of life insurance is expected to rise significantly.

Because of this, many financial advisors and insurance brokers are advising people that if they need cover then they should buy it before the prices rise.

It has been widely reported that new European legislation which is due to come into force at the end of this year will make it compulsory for all insurers to offer unisex rates on all types of insurance including critical illness cover. This is expected to significantly increase the cost of insurance for women as their premiums are usually less as they are more likely to not die early and therefore make a claim on their insurance policy.

What a lot of people won’t realise is that new tax rules will be rolled out and implemented at the same time which will force up the cost of insurance right across the board and any gains which men might see from potentially cheaper unisex rates will effectively be wiped out by the new tax.

At the moment, UK insurance providers are permitted to offset any costs of their life insurance business against any profits which they have made on their investments. However, during the last budget it was announced that a new legislation was to be introduced which will effectively close down this loophole.

Whilst this may provide more tax for the treasury, it is likely to increase insurance costs for life insurance providers which in turn is expected to be passed on to the consumer.

Military insurance for the armed forces

If you are employed by the UK’s armed forces, whether its the Army, Navy, RAF or Royal Marines then you can obtain life insurance quotes through which will offer you great coverage.

Should you pass away unexpectedly, then having a Military insurance policy will protect your family. Income insurance will enable you to continue with your bills and other expenses should you be unable to work or loose your job and Critical illness insurance will help you continue financially should you die from or be diagnosed with a critical illness.

Your occupation can be quite important when it comes to getting life insurance and specialist military insurance is perfect for those of you who serve in the UK’s armed forces. It doesn’t matter if you are right on the frontline or even sat behind a desk, Having military insurance will offer you the knowledge that should the unexpected happen then your family will be protected financially.

To compare armed forces life insurance quotes please click the following link:  Military Insurance for the Armed Forces

Over 50 Life Insurance

Over 50 life insuranceNot so long ago, 50 years of age used to be considered old and was regarded as a milestone age but that is simply not the case  now days.

As we are generally living longer and healthier lifestyles, being 50 is still classed as being middle aged to most people and because of this you can now find some great rates on over 50 insurance.
Read the rest of this entry

It doesn’t matter how well your life is running or how healthy you currently are as there is always the unexpected awaiting around the corner for many of us. Even in the current financial and employment climate it seems that there are not many safe occupations to have nowadays which aren’t in danger of  redundancies. Because of this uncertainty, it is always a good idea to protect yourself with an insurance policy.

An insurance policy will protect you and your family should you die unexpectedly, lose your job, become sick or even get injured. There are many different type of insurance available and Accident Sickness and Unemployment cover is one of the most important ones you can have.
Should you become sick, injured or be made redundant, could your family still afford to live and pay the bills without your income?

Whilst this can be worrying for many people, with a ASU Cover in place, the worry can be kept to a minimum and should something happen, you can concentrate on getting better / getting a new job whilst still receiving an income to help cover the expenses.

Accident, Sickness & Unemployment insurance has helped many people in the past and it could also help you too. It is important that when purchasing insurance such as ASU cover via a website or internet you should still speak to one of their advisors. Buying your insurance online on a none advised basis can be very risky as you increase the possibility of purchasing a policy which is unsuitable for you and wasting a lot of money on it.

With you will speak to a fully qualified and FSA regulated advisor to insure that any advice given will be of sound nature, unbiased and independent. You will speak to a friendly professional who has many years experience within the life insurance industry and will be able to carefully guide you through the application process and will also make sure that the policy you buy is actually suitable for you.

All our advisors are exactly that, ‘Advisors’  and not ‘Sales people’ so there will be no hard sell and you are never at any point under any obligation to purchase. Let’s not also forget that any advice you receive will be free of charge.

Taking into account when to purchase Accident insurance is also an important factor. If you are young and healthy then you will find you can purchase your policy much cheaper and could find a really great deal. So always bear this in mind as even if you are young and healthy, you never know what might happen tomorrow and things could deteriate very rapidly so it would be much better for yourself and your family to be protected with ASU cover.