Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Insurance » Article
 

What Benefits Are Available On Life Insurance ?




By quote

I want life insurance what options should I consider adding ?

When taking out a life insurance plan there are a number of different options you could decide to add should you think they would be appropriate to your circumstances. These need to be added at the start of the life insurance policy from the outset.

Waiver of Payment Benefit
Waiver of payment benefit can be added to most life insurance polices, this benefit if added means that you do not have to pay your life insurance premiums if you cannot work for six months or more as a result of illness or injury. Most of the insurers will expect the premiums to be paid on the life insurance policy for normally at first, however after normally about 26 weeks of incapacity the premiums will be waived.

The incapacity or waiver on a life insurance policy is normally assesed by something called Functional Assessment Tests and these are to be done without the help of another person.

Walking - the ability to walk 200 metres on the flat ground with or without the aid of a walking stick without stopping or experiencing discomfort.

Bending - the ability to get into and out of a standard saloon car and the ability to bend or kneel to pick an object up off the floor and straighten up again.

Communicating - the ability to answer the telephone and to take a message.

Reading - having the required eyesight(corrected if necessary) to be able to read a daily newspaper

Writing - having the physical ability to write legibly using a pen or pencil without aid.

Climbing - having the ability to climb a flight of 12 stairs without stopping or suffering severe discomfort.

These are only guides and should not be relied upon totally your life insurance broker, will be able to advise in individual circumstances

Conversion of Life Insurance Policies
Some life insurance brokers/assurance companies will offer the flexiblity to convert your life insurance policy to a Whole of Life Plan without providing further medical evidence. When taking this option there are some restrictions that need to be explored fully when adding it. Your life insurance financial advisor/ broker needs to advise you on this option carefully.

Indexation of Life Insurance Policies
This option is added to keep your life insurance policy up with inflation. Both the premiums and the amount of life insurance increase with the RPI (Retail Price Index) this can be up to 10% in any one year. Normally if the indexation option is added to the life insurance policy the opportunity to increase the cover will be given regularly but if it is declined it wont be offered again.

If you are ever in any doubt about what options to add to your life insurance policy then you should consult your life insurance broker and request the technical guides and key facts for the products being cosidered. Life insurance is not complicated but it is important to pick the right policy with the right options from the outset.
 
 
About the Author
For more information about feel free to visit http://www.unbeatablelifeandcriticalinsurance.co.uk.

Article Source: http://www.simplysearch4it.com/article/49175.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/49175.html" as shown above and make it hyperlinked.



  Some other articles by quote
When Should I Buy Life Insurance ?
Life insurance is the best type of protection you can get for your family should something unfortunate happen to you. The consequences of ...

Buying Life Insurance Online
I am considering buying some life insurance what do I need to know ? In the past life insurance was something that you sorted through your broker when he or she came to ...

Life Insurance: Tell Me About It And How It Works ?
Life insurance offers you an opportunity to ensure the financial security of your family and loved ones, no matter what happens. Life insurance ...

  
  Recent Articles
Get the Best Insurance Policy For Your Home
by Barbara Thorp

Travel Insurance Online: Both Money And Time Saving
by Henry Bell

Travel Insurance UK: Travel Without Worries
by Henry Bell

Who Else Wants Health & Life Insurance Leads that Turn to Clients 80% of the Time
by Ken Wilson

Build a Network of Client You Can Be Proud of from Closing Auto Insurance Leads
by Ken Wilson

Get Rates that Insurance Agents Get on Life Insurance
by David Yuri

Secrets of Low Cost Health Insurance
by Clint Jhonson

Little Known Ways to Save on Life Insurance
by David Yuri

Now You Can Have Home Insurance Leads that Convert to Policies
by Ken Wilson

The Secret of Auto & Home Insurance
by Clint Jhonson

Must Know Insurance Saving Tips and FAQ
by Clint Jhonson

At Last an Insurance Magazine for Both Insurance Consumers & Insurance Agents
by Clint Jhonson

Home Content Insurance: An Additional Safety
by Henry Bell

Car Insurance Quote: Select an Appropriate For You
by Henry Bell

Insurance
by Henry Bell