This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Life Insurance Definition

Life insurance is by definition a form of financial security or a protection against a loss of income. The difference is that the person who is taking out the life insurance policy is ensuring that the beneficiary they have named (usually their family) will be protected in the event of their death.
The kind of life insurance that a person will want depends upon a number of things:

  • Whether they would like the policy to last for a fixed period (term assurance) or an open ended one (whole life assurance)
  • How much cover the policy holder would like to have, which is usually dependent upon the number and situation of their dependants
  • Whether the amount of cover provided will remain as a constant throughout the lifespan of the policy or will change throughout that period (increasing or decreasing life assurance)
  • Whether upon the policyholders death the insurance pays a lump sum to the family, staggered amounts or the money is earmarked for the repayment of the mortgage or any other outstanding debts

For more information on life insurance and how it can benefit you and your loved ones complete our enquiry form.

Life Insurance Service - FREE Review of Existing Cover
Quote ServicesLife Insurance QuotesCritical Illness Insurance QuotesIncome Protection QuotesFamily Income Benefit QuotesGet Quotes
YesYesYesYesGet Quotes >
  • Existing Health Conditions - Special Life & Mortgage Protection Insurance Quotes Service
  • FREE review of your existing life cover policies
  • Fill in one simple form and we will call you back
  • No obligation quote service
  • Get the right cover for your needs