All the latest personal finance news - helping you make the most of your money

Home
Mortgages
Loans
Insurance
Savings & Invs
Debt
Endowments
Banking
Bills
Cards
Pensions

Insurance home

Quick quotes

Tools

News, features & guides

Aon fined over bribery allegations

More ...

Insurance glossary

Life insurance explained

Cheaper quote on ...

More insurance quotes ...

Guides

Life insurance is a financial product that, in return for contributing a regular payment, will pay out a large sum if you die.

Life insurance policies, sometimes referred to as life assurance, can also be used as a method of saving - where if, at the end of the period of cover, the person insured is still alive, the policy pays out regardless.

Life insurance polices are generally taken out by people with financial commitments and family members dependent on the money they earn.

For example if a person's wages contributes to the mortgage on their family home, taking out life insurance could cover the value of the mortgage if that person dies.

The cost of life insurance policies depends on how healthy a person is. As such stopping smoking, taking up exercise, and weighing the correct amount for your body size will all reduce the cost of a policy.

Half of families rely on two incomes
Almost half of families now have to rely on two breadwinners, meaning millions of households run the risk of losing everything if one income is lost, an insurer has warns. More...

Barclays warns of protection gap threat
Nearly half of all UK adults have no policies in place to protect themselves in the event of illness or redundancy. More...

Insurance offers ...

Selected partners

Disclaimer:
myfinances.co.uk is not authorised to give advice under the Financial Services and Markets Act 2000.

Terms:
By using this site, you are deemed to have accepted our terms of use.

myfinances poll

2009 is set to be a tough year for the UK finances. We want to know what you are expecting. Vote now.

Free stuff