Many people after some events in their life are thinking about life insurance. The essence of assurance is in that the person starting deposits on the account of insurance company the fixed payments, and in the case of death the stated amount is received by those people whom the person is specified.
For what reason you need the life insurance
The central idea of the life insurance is financial aid to a family which will be left without the main breadwinner. The insurance payment must compensate the loss of the income. For this reason the mature people who have the constant high income are often thinking about such insurance. Though there are also other reasons to assure own life. For example, the person takes out a loan or buys on the installment plan the real estate for which he needs to pay many years. If suddenly something happens with him, then the debt will “hang” on his first-degree relatives. In the case of person’s death the assurance value will go on the anticipated repayment of credit. In any way, the life assurance is a care of the wellbeing of closest relatives. Assurance can be performed without any problems if the state of person health can be considered as “good”. But there are other options too. To get to know about them it is better to address the council to solicitor which will tell you how to act. To find the skilled specialist without any hassle – try to use the Solicitors.GURU website where many experts are listed.
What types of life insurance are?
Any person has the right to insure own life, having chosen the most optimal variant. There are such options:
- Assurance on the specified interim. According to such contract the sum of assurance is paid to the family of died person after some period from his death. The sum is paid once, in full. If the person got ill with an incurable disease, then he can receive payments from the assurance sum since that moment as he loses working capacity. The sum which remained after his death will be paid to his family.
- Life insurance in presence of commercial loan. Such type of insurance is specially created for repayment of the loan if a person suddenly dies. At the same time the sum of payment of assurance is gradually decreased over time while person pays back a loan.
- Life insurance at detection of lethal illness. It is possible to issue assurance for the case of a serious incurable disease. If the person gets ill with something from listed, then he will receive the insured sum which goes for his treatment and alimentation. It is possible to be insured from a stroke, heart attack, cancer and multiple sclerosis. The list of diseases can be expanded therefore it is important to discuss all details with the solicitor and insurance agent. At the moment those people who didn’t reach 65-year age can without any difficulties assure life from incurable diseases.
Can the smoker insure his life?
England – the country with a great number of smoking people therefore insurance companies agree to assurance the lives of smokers. But at the same time regular payments in that case are rather high. This is connected with the fact that smokers are susceptible to many diseases and their length of life has usually shorter duration than of non-smoking people, and their assurance is unprofitable. Especially it concerns the elderly smoking people. A number of payments are established on a case-by-case basis by insurance company therefore it is very important that at the time of execution of an agreement there was a skilled solicitor. It’s not widely known, but there is a way to save yourself from unplanned expenditure in case of failure with receiving of insurance. You can learn more from no win no fee feature.
Before entry into an agreement the insurance company needs the document about client’s state of health. Usually the doctor is sent to him for domiciliary general surveying. If the person wishes to assurance the life for sum over 1 million British Pounds then the insurance company can offer general surveying in the medical center on Harley Street. If the person had any serious diseases earlier, then to clinics where he received treatment, a request for the clinical record will be sent.Read more