These two types of policy clearly have different uses and applications, and the most important decision in life insurance is to buy the right type for your needs.
Broadly speaking, at the younger ages when family responsibilities are heavy (from marriage through to when children become independent) protection is more important, whereas in the later stages of working life investment becomes the priori.
Price comparison sites like http://www.moneysupermarket.com/life-insurance/ are always useful, but getting the right policy as opposed to the cheapest needs a little thought.
The structure of this website follows this pattern, starting with the pure protection type of policy and moving through policies designed for investment and house purchase to those more relevant in retirement and old age.
It has to be said at the start that there are often hundreds of policies of one type available and that it is impossible in a website of this kind to offer advice on the "best buy".
Life insurance companies change their premium rates for particular policies from time to time in response to market conditions or internal considerations.
Furthermore, though some will be covered in later, it is impossible to cover all the minor variations in policy conditions that may, for any one individual, be extremely important. And though it is only current rates of premium per sum assured (together with any specific differences in conditions of the contract) which determine the relative value for money of protective life insurance, this is not true of investment-oriented policies.
The best value here will not be found by comparing premium rates because the ultimate maturity value delivered to the policyholder will depend mainly on investment experience, the result of the investment decisions of the life company over a period of many years, and this is not easy to predi.
In regards protective life insurance, it is in any case more important to choose the right type of policy than the cheapest individual policy available, since the difference in actual cost will not be very large.
In choosing an investment-oriented contract it is more important to pick the right one for the individual, but in general this is beyond the ability of the individual and requires the assistance of an insurance broker or other adviser.
It is possible, given the necessary background........ see: click here for Nature Of The Contract
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