Term Life Insurance

Term life insurance is a life insurance product that pays out a
cash lump sum upon death of the insurance policyholder or at the
point that the insurance policyholder is diagnosed as terminally
ill But, despite it being a low cost term life product -
insurance cover can be acquired from as little as £5-£10 per
month – surprisingly few of us have term life insurance in
place
For people with a mortgage and family to support, not having a
term life insurance policy exposes them to a large financial
risk This risk becomes apparent when you consider how the
mortgage and household bills would be paid if the main income
producer were to die or to become terminally ill The end result
could be that loved ones who are left behind find their home is
repossessed because they cannot keep up the mortgage repayments
Some people prepare for such an eventuality by taking out a
mortgage life insurance policy This is all well and good for
covering off the remainder of the mortgage loan, but where will
the money come from to pay the gas electricity bill and the
council tax bill every month, let alone the money needed to
cover the policyholder’s funeral expenses? It is at this point
that a term life insurance policy becomes very useful indeed
If you don’t have a term life insurance policy in place, here
are some sobering reasons why you should consider taking out a
term life policy now
* CANCER – One in three people will develop cancer at some point
in their lives Research into cancer is of course ongoing, and
one day some cancers may be curable In the meantime a term life
policy offers income protection for loved ones left behind in
the event of terminal cancer diagnosis and death from cancer
* HEART DISEASE – Heart and circulatory disease accounts for
more than 35% of all deaths in the UK each year The number of
people dying from heart and circulatory disease is on a falling
trend, but the number of people becoming morbidly obese is
increasing, and so may reverse this trend in the near future
Term life policies can be configured to pay out if cause of
death is heart-related
* MRSA (SUPERBUG) – The death rate from the MRSA superbug has
doubled in the last 4 years MRSA is a bacterial infection that
is resistant to antibiotics It commonly causes death in people
with weak immune systems, and so easily spreads amongst the sick
old in hospital wards Many life insurance policies pay out if
the cause of death is MRSA related
* AVIAN FLU (BIRD FLU) – Recent comments by the Society of
General Microbiology in the UK sparked controversy when they
estimated that 2 million people in the UK could die from a
highly infectious strain of mutated Avian Flu If you are
worried about Avian Flu check with the life insurance agent to
see if their term life policy covers such an eventuality

Tags | diagnosis, disease, electricity, eventuality, expenses, funeral, household, policy, producer, repayments, result, terminal