Choosing the Best Life Insurance Option for You

Life insurance in the UK is becoming more and more popular with many people now realizing the importance and the benefits of a good life insurance policy. There are two main types of popular life insurance, both of which offer a range of invaluable benefits to UK consumers.

Level Term Life Insurance

Level term life insurance is the most popular type of life insurance policy with UK consumers, and this may be because it is also the cheapest form of insurance. With level term insurance, you and your family can enjoy peace of mind at an affordable price. If you die during the term of this insurance policy, your family will receive a lump sum payment, which can help to cover a number of costs as well as provide some degree of financial security at what will inevitably be a difficult time. The money could assist with costs such as:

  • Mortgage repayments
  • Funeral costs
  • Education costs for the children
  • Day-to-day living

One of the reasons that level term life insurance is a fair bit cheaper than other life insurance is because the insurer only has to make a payment if the insured party passes away, and even then the insured party has to die during the term of the policy for the next of kin (or the named beneficiary) to be eligible for a payout. One of the great things about levels term insurance is that you can benefit from cover for just a few pounds each week, and because the payments remain the same throughout the term of the policy, you’ll never have to worry about rising payments.

The reason why a level term insurance policy is so called is because the repayment remain level throughout the term of the policy, so you will never have to worry about the cost of your policy rising. The policy is also taken over a fixed term, which is where the ‘term’ part of the policy comes in. This means that you can enjoy easy budgeting and low cost repayments, and you’ll know exactly how long you will be making payment for. On the downside, once the policy expires you will not be able to reclaim any money and the policy will be cancelled, so you will then need to look at taking out alternative life insurance cover.

The average term of a level term life insurance policy – unless otherwise specified – is fifteen years. There are a variety of factors that contribute to the cost of the policy such as whether you go for the most basic package or whether you include a bolt-on such as critical illness cover, whether you are a smoker, your general health, and the term over which you take the policy out.

Whole Life Insurance

Unlike level term life insurance, whole life cover offers a guaranteed payout, which to many people makes it better value for money in the long run. Although the repayments on this type of cover are more expensive than level term insurance, the insurer will make pay out whenever the insured party passes away, so the higher monthly payments will guarantee a payout at some point.

There are a number of different types of whole life insurance policies, and consumers can select the one that best fits their needs and their budget. As with other insurance policies, you can tailor-make your whole life insurance cover to include additional cover such as critical illness insurance. The variations on whole life insurance cover include:

Non-profit UK whole life insurance policies: This is the simplest form of whole life cover, and enables you to enjoy the convenience of level payments through the term of the policy until you die. Upon death, your family received a payout and the policy becomes null and void. If you want to pay a little extra, you can take out a policy that is fixed over a specified term, which means that you will only be making payments for a certain amount of time, but your family will still receive a payout when you die.

With-profit UK whole life insurance: This is a cover and investment type scheme, where your monthly payments are split between your cover premiums and the investment side of your policy. You will enjoy a guaranteed assured sum, and you may find that your insurer adds discretionary bonuses.

Low cost UK whole life insurance: One of the cheapest forms of whole life cover, this type of policy features a decreasing term plan, and the policy is combined with a profits fund. As bonuses are added to the profit side of the policy, the policy term decreases. This provides a cost effective solution for those that want to enjoy the benefits of whole life insurance cover without having to make high monthly payments.

Unitised UK whole life insurance policy: When you purchase this type of whole life cover, you will also be investing in with-profit units. This means that when the insurer makes a payout, the sum awarded will be dependent upon the value of the units in comparison to the value of the death benefit (the payout will be based upon whichever is the highest in value). Each month units are cancelled in order to increase levels of death benefit cover, with reviews carried out from time to time to ensure adequate levels of death benefit cover.

Summary

Both level term insurance policies and whole life policies offer valuable peace of mind to policyholders. The cost of this type of life cover is a small price to pay for the peace of mind that comes with being protected, and you can increase this peace of mind by adding extras such as critical illness to your policy for just a small extra fee.

As a nation, we like to insure just about everything we can…our cars, our homes, our belongings, our pets, and even our credit repayments. It therefore makes sense that we should insure the most important thing of all – our lives.

Online Insurance Leads – How to Get the Best Quality Insurance Leads

If you are interested in insurance leads, then you might be aware of the many companies currently selling leads. These companies generally don’t specialize in insurance, but instead are experts in search engine optimization. Essentially, they develop websites that generate a high amount of targeted web traffic. These sites are optimized to rank highly on search engines for particular search terms, which results in lots of traffic related to these particular terms.

Companies that specialize in creating life insurance leads construct websites around pertinent keywords that those interested in insurance might search for. They create a website that provides useful information to those interested in insurance and attempt to collect information on each visitor, which can then be sold as a quality insurance lead. These companies excel at collecting information on people that have a real interest in buying insurance, which makes buying insurance leads a great way to increase insurance sales.

With so many people relying on the Internet for their informational needs, it has become much more efficient for potential insurers to get in touch with prospective clients. People are generally willing to submit information about themselves to learn more about their chance of qualifying for various types of insurance. For instance, when trying to compare life insurance quotes, a site visitor would expect to fill out a form containing relevant information used to determine insurance eligibility. The submitted information is then kept as a potential life insurance lead. An insurance agent will then get in touch with the interested visitor and provide more specific details about various plan options that might be available.

This new technological solution to finding insurance leads benefits people looking for insurance just as much as it benefits agents looking for quality leads. Indeed, it is common practice for a person to submit his information to a variety of insurance sites in an effort to find the most comprehensive insurance plan at the best rate. This means that various insurance agents are in direct competition over the same insurance leads. Many people don’t hesitate to inform one insurer of a lower quote obtained elsewhere. This might provide an agent with chance to submit a lower quote in hopes of making the sale. The benefit of this process is that agents have easy access to many quality insurance leads, and also that those looking for insurance can obtain reasonable rates for their insurance plans.

No matter the type of coverage, today it is possible to find rates on the Internet. There are company and agent websites available for life, home, renters, health, and auto insurance, just to name a few. Taking advantage of free online insurance quotes is the easiest way to find the best rate for your unique insurance needs. By submitting insurance information to multiple sites, it is possible to find the best deal around without even leaving home

The Best CEO Insurance Plan

Credentials Don’t Solve Business Problems, Problem-Solvers Do

Some of the smartest people you meet may have credentials, and some may not have credentials. How many times have you met someone who has a degree/credential in one area, but is working in the complete opposite field? A hundred years ago, higher levels of education were available to the rich, predominantly. In today’s corporate arena, it is almost unheard of to hire someone that has no college degree. This shift has caused individuals to seek out degrees instead of learning how to solve real-life problems in the business world.

Some of the smartest “business decision-makers” have little or no credentials. Many of these are small business owners that are solving real business problems on a daily basis without the ‘latest and greatest’ credentials offered by the professional world. Just how important are the small business owners? The statistics give a more accurate depiction of this point. Consider the Small Business Administration’s statistic on private firms; small businesses provide jobs for over half of the nation’s private workforce, and small businesses are job creators accounting for over 99% of all firms (sba.gov).

Just think in your own mind, how many of those small business owners have great and recognized degrees/credentials. Most of the successful small business owners I know have no credentials and are well off. When hiring someone, it is not always best to hire someone that has the credentials, rather, hire someone that can solve real business problems and offers solutions.

Hire problem-solvers!

Mistake: Not Hiring Out Of The Box Thinkers

This point holds especially true when a business needs to grow. Don’t get me wrong though, all growing companies will need in-the-box thinkers to handle the monotonous tasks that need to be completed in everyday business activities. However, most often overlooked by hiring managers are the out-of-the-box thinkers that cannot only perform the job required, but a step further as well. A step further says that when business is transacted, all business activity is subject to improving upon. In our global economy, growing businesses cannot afford to ignore improving upon the company’s pre-existing business model. For example: an out-of-the-box thinker, in the course of their work would say, “wait a minute, there is a better way to handle this situation when it arises again…” instead of saying, “well, that’s not my job and I’m not paid to think about how to improve this business, it’s not my responsibility.” Most people that think like this feel like they have no duty to improve the business because improving the business will do them no good. On the contrary, I have worked in a company where good ideas are recognized and rewarded with compensation in the form of a bonus.

HR may assist in the administration of hiring, but only you know what and who is the best fit to obtain the position, and my guess, it’s the person that sees beyond their own box.

Management By Walking Around

Managers/Owners of a business can greatly benefit by this style: managing by walking around. Do a lot of professionals know about this style? Yes. Is it practiced as much as it should? Probably not. The most likely reason is because managers may think, ‘since the business world has gone mostly to electronic communication, walking around and giving “face-time” is inefficient and time consuming so why not send out a mass email to those that work under me?” Thinking this way will not only make your clients feel neglected and as if your time is more valuable than theirs, it will also create an environment of less accountability because you’re never seen by your employees.

In the long run, ignoring employees will yield unhappy employees.

Unhappy employees will yield no passion for their work.

No passion for their work will yield poor work product.

Poor work product will eventually lead to the downfall of the company.

No company means, no job and no paycheck. Trying to please everyone is impossible, but managing by walking around sure does help.

Solution: come out from behind the keyboard and at a minimum, be “seen” by employees and customers. For greatness to be achieved, management must provide an environment of greatness.