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  • Will You Add? - How To Get The Best Value Life Cover To Protect Your Family

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    re subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although gu
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    Most people are aware of just how valuable Life Insurance can be, particularly when it come to protecting dependents against the financial consequences of the death of a vital family breadwinner.

    When looking for plans to provide the required cover, most people tend to focus solely on the monthly cost which may not provide a true indication of the best value over the required term.

    For example term life insurance plans usually offer two types of premium, guaranteed and reviewable. As the name implies guaranteed premiums are just that. The premium is fixed at outset and cannot subsequently be changed by the insurer in the light of poor claims experiences. Reviewable premiums however are subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although gua

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    family breadwinner.

    When looking for plans to provide the required cover, most people tend to focus solely on the monthly cost which may not provide a true indication of the best value over the required term.

    For example term life insurance plans usually offer two types of premium, guaranteed and reviewable. As the name implies guaranteed premiums are just that. The premium is fixed at outset and cannot subsequently be changed by the insurer in the light of poor claims experiences. Reviewable premiums however are subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although gu

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    the best value over the required term.

    For example term life insurance plans usually offer two types of premium, guaranteed and reviewable. As the name implies guaranteed premiums are just that. The premium is fixed at outset and cannot subsequently be changed by the insurer in the light of poor claims experiences. Reviewable premiums however are subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although gu

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    premiums are just that. The premium is fixed at outset and cannot subsequently be changed by the insurer in the light of poor claims experiences. Reviewable premiums however are subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although gu
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    re subject to a periodic review and therefore the premiums could be increased by the insurer if this class of insurance was subject to more claims than anticipated. Although guaranteed premium plans tend to cost slightly more initially than reviewable plans they are worth considering particularly for terms in excess of 10 years.

    Should you choose lump sum cover or a regular income?

    Perhaps the best way to obtain maximum value is to select the right type of plan to match the need. For example most people automatically select lump sum cover when setting up a life insurance policy for family protection. This type of plan is fine if you need to provide lump sums to pay off debts such as mortgages and loans etc. Family protection however is more about providing an income to replace that lost as a result of the death of the life assured. Having a lump sum

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