Life Insurance quotes, cheap life insurance

"When comes to Life and Critical Illness insurance you'll need advice. It's the only way to avoid costly mistakes. So we've arranged for MoneyQuest to deal with public for us. They're highly competitive and very professional - and that's important as it reflects on our reputation too", says Charles Challiner spokesman for Lloyds Insurance Underwriting.

Life Insurance
MoneyQuest - The Top Selection from
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50%* of existing policyholders pay
way too much for their Life Insurance.

Are you one of the millions of people who has taken out a Life Insurance policy within the last ten years?

Yes? Then the odds are that you could replace that policy and save a lot of money .

Why? Because life insurance is one of those few things where over recent years competition has forced price reductions - and spectacularly so! A saving of 50% to 60% is not unusual.

So find out how much you can save. Your savings could go a long way towards paying for next summers' holiday! But don't be tempted to rush out and cancel your existing life insurance policy as soon as you get a quote. You should always wait until your new life insurance policy is in place.

*estimates based on industry research.
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Published Articles about Life Insurance

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Life Insurance. Top Tips

It's always good to be aware of a few Top Tips when you're shopping for life insurance. A little extra knowledge helps you ask the right questions and find the best policy.


1. You have two options - you can buy what's called "Reviewable" or "Guaranteed" life insurance policy.

In the early years a Reviewable will be cheaper but a Guaranteed Policy will be much cheaper in the longer term.

With a "Reviewable Policy" your insurance company can review the cost of your insurance cover at regular intervals. But don't be deceived - experience shows that a "review" is another word for a price increase! After all, who's ever heard of an insurance company passing over the opportunity to charge you more! The intervals between reviews are usually between 2 and 5 years - but this varies between insurers. You'll find details of the review intervals within the documents sent to you before you accept the policy - the documents to look out for are called The Key Features Documents.

With "Guaranteed Policies" the insurer guarantees never to increase the premium on your policy.

So, if you compared like for like policies, in the early years the premiums for a "Reviewable Policy" will definitely be less than those for a "Guaranteed Policy". During the following years, the premiums for a Reviewable Policy increase, eventually overtaking the premium for a "Guaranteed Policy".

As a guideline, you can anticipate that the monthly premiums for a Reviewable Policy will exceed those of a Guaranteed policy within 7 to 10 years. Then, during the following 10 years, they could easily double again.

If your current budget is tight then by all means, choose a Reviewable Policy - later on your income is likely to increase and should continue to make your premiums affordable. On the other hand, if you can afford the premiums for a Guaranteed Policy, they will probably represent your best buy.

Please Note : Many insurance companies no longer offer "Guaranteed" policies for standalone critical illness insurance cover. It's because they have experienced heavier claims than they initially expected and they want the flexibility to increase the premiums they charge. However, you may be lucky and find a Guaranteed life insurance policy that will let you add critical illness cover. As we have explained, "Guaranteed" rates are usually a better buy and so if you get a quote for a Guaranteed life policy that includes critical illness cover, you should have a bargain.

2. Thinking about a Joint Life Insurance Policy?

Joint Life Insurance policies are usually written on what is called a "first death" basis. This means that they pay out on the death of the first policyholder (subject of course, to the policy being in force when death occurs). But once the policy has made a payout, the policy automatically terminates. This leaves the other policyholder uninsured and that much older. The problem is that older people can struggle to get life insurance at sensible premiums. So rather than buying a Joint Policy, consider taking out separate policies for each of you. Individual policies will work out a bit dearer - but you effectively get double cover and double peace of mind.

3. Don't confuse Terminal Illness cover with Critical Illness cover.

Terminal Illness and Critical Illness cover are subtly, but importantly, different. Make sure you understand the difference.

Terminal Illness can only run in conjunction with a Life policy. It immediately pays out the life insurance sum if a Doctor diagnoses you with an illness from which the Doctor thinks you will die within 12 months . Virtually all quality life policies automatically include Terminal Illness totally free of charge.

A Critical Illness policy on the other hand, pays out the insured sum immediately as soon as you are diagnosed with one of a wide range serious conditions and there is no 12 month life expectancy criteria . Indeed, with many of the insured illnesses listed on your policy, you could expect to live on for many years. For example: multiple sclerosis, heart disease, stroke, certain cancers, loss of speech, sight or hearing, onset of Alzheimers disease or Parkinsons etc.

Say you were a lorry driver aged 40 and you became blind. A Critical Illness policy would pay out immediately and that money could play a vital role in helping you and your family through the difficult years ahead. If you only had Terminal Illness there'd be no chance of a payout.

So as we hope we've demonstrated, Critical Illness insurance cover is far more comprehensive than basic Terminal Illness cover. For that reason critical illness cover always costs you extra, it's never free.

4. Now is an ideal time to include Critical Illness cover.

Is there any chance you'll need Critical Illness Insurance in the future? Yes? Then you should consider adding it to the life insurance policy you're sorting out. Why? Three reasons:

Firstly, if you combine your life insurance with Critical Illness cover it will work out much cheaper than buying two separate policies.

Secondly, as we have already explained in the footnote to our first tip, you may be luck and find a combined Life and Critical Illness policy with a guaranteed premium. That could be a bargain.

Finally, premiums for critical illness policies increase rapidly for older applicants - so the sooner you start a policy, the cheaper it'll be.

5. Have your Life Insurance policy "Written in Trust".

"Written in Trust" means that in the event of a claim, the money will go directly to the person(s) you nominate as beneficiaries when you take the policy out. "Written in Trust" also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds from your policy - and that could represent tax saving of 40%!

All you have to do is tell your Adviser at MoneyQuest that you want your policy "Written in Trust" and the names of the beneficiaries to whom the life insurance company pays in the event of a claim. MoneyQuest will then sort it out for you and at no charge! So it's a win all round and there aren't many of those these days!

Please be Aware

Life Insurance
MoneyQuest - The Top Selection from
Alliance at
www.Lloyds-Insurance-Underwriting.co.uk
Scroll up for details.