LIFE INSURANCE
COMPANIES GUIDE

 Life Insurance UK

 Life Insurance USA

 Life Insurance  Canada

A lot of life insurance companies can be found online, if you wish to find life insurance companies then you have come to the right place. Simply select one of the countries from the life insurance companies list above to get an instant online quote. You can use this facility as many times as you like - absolutely free of charge.

Death Benefit

Death benefit is any form of cover that provides a financial payout to a policy-holder’s family or other dependents whenever that policy-holder dies. Depending on the specific terms and conditions of the policy, the payout will take the form of either a lump sum or a series of smaller payments i.e. a steady income. These payments are normally provided without tax being deducted; for most people they are generally tax-free. The most common uses for payout(s) obtained from a life insurance policy are:

• To pay off outstanding mortgage payments (mortgage protection cover).
• To settle any other debts that may exist in the policy-holder’s name.
• To provide an income if the policy-holder is the primary earner in a household (family income benefit).
• To provide a lump sum “nest egg” for people specified by the policyholder (most commonly their spouse and/or children).

Critical Illness

A critical illness policy pays out a lump sum if the policy-holder is diagnosed with one of a number of specified “critical” illnesses during the term of the policy. The lump sum is generally intended to provide an income if the policy-holder becomes too ill to continue working; alternative uses might be to settle either mortgage payments or any other debts. A point that should be given special attention when selecting a critical illness policy is the list of defined “critical illnesses”. Generally, the longer the list of illnesses covered, the better the protection provided by the policy. One further note that should be considered is that some providers that issue critical illness cover require the policy-holder to “survive” for a minimum period following the date of diagnosis before the policy will pay out. All of these details will be mentioned within a policy’s terms and conditions.

Although policies that provide just one of these types of cover are available, many providers offer policies that provide both death benefit and critical illness cover. It is important to assess your exact needs with regard to these, so that you maximise the value for money of your policy.