Should You Get Life Insurance UK | Life Insurance & Life Assurance
Channel: Financial Madness
Date: 30/04/2022

Should I Get Life Insurance UK? 
In this episode, we are going to dive into what Life Insurance and Life Assurance are?  The different types of Life Insurance and Assurance are? And whether you should get Life Insurance/Life Assurance.

Let us understand the basics. When you delve into this more deeply you may see the term Life Insurance and Life Assurance used interchangeably, but there is actually a difference between the two terms.
Life Insurance and Life Assurance are financial products that usually pay out a tax-free lump sum or a monthly income to your beneficiaries when you pass away. 
The difference between the two is that Life Insurance covers you for a specific time frame whereas Life Assurance covers you for your entire life, this is also known as the "Whole of Life" Cover. 

Both Life Insurance and Assurance do come with a cost. Whilst you are living you will have to pay a premium/monthly cost to have this covered. Now the cost of these premiums will vary from person to person, the insurer can take into account things such as :
- Your Age
- Your Health
- Your Occupation
- The type of policy you would like (You probably guessed it by Life Assurance will be more expensive than Life Insurance)

Chapter Information (Should You Get Life Insurance UK):
0:00 Introduction
0:20 Life Insurance vs Life Assurance
1:20 Types of Life Insurance and Life Assurance
5:23 Should you get Life Insurance Cover?
8:07 How to find the Best Deals


🔹 CompareTheMarket: https://www.comparethemarket.com/life-insurance/

🔹 GoCompare: https://www.gocompare.com/life-insurance/

🔹MoneySupermarket: https://www.moneysupermarket.com/life-insurance/

🔹TheTimes: https://www.thetimes.co.uk/money-mentor/article/do-i-need-life-insurance/

🔹 PostOffice: https://www.postoffice.co.uk/life-cover/life-insurance/six-reasons-you-need-cover

🔹Forbes: https://www.forbes.com/uk/advisor/life-insurance/is-life-insurance-worth-it/

DISCLAIMER - Any advice or (statements perceived to be advice) given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.  You are fully responsible for your financial decisions. If you are in need of Financial Advice, please seek out a professional advisor. If you are unsure of how to do this, feel free to reach out to me and I am more than happy to guide you.

#LifeInsurance #WholeOfLife #LifeAssurance