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You can increase or decrease your cover at any time, add another life onto policy and add other elements to plan such as critical illness cover, income protection or mortgage protection.
If your circumstances change you can increase your cover to make sure your family is protected.
Life insurance creates an estate for your heirs. After your debts and expenses are paid, there may not be much left over for your family but life insurance can automatically provide assets for them after your death.
There are several kinds of policies that may be available to you, if you are healthy enough.
Smoking is detrimental to health and is a leading cause of life threatening illnesses. As a result smokers pay higher premiums than non-smokers as risk of them dying early is greater. I f you smoke and do not declare fact, you run risk of invalidating your policy if you have to make a claim.
It is a known fact that women tend to live longer than men. A female who insures herself using a 'level-term' policy is likely to have lower premiums than a male. This is based on fact that females live longer and are less likely to claim during period insured.
Age is a factor in successful application for a life policy. Most insurers have an age bracket of seventy-five for provision of insurance. If you are over age of seventy-five it is unlikely you will be able to find cover.
Finally, older you are greater risk to insurance provider so higher your premium will be.
You may freely reprint this article provided author's biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.