| 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
$10-$20
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…
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an
instant
term
life
insurance
quote
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• 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
Request
an
instant
term
life
insurance
quote
now >> |
