Life insurance has been a firmly established part of the British financial scene for over 100 years, and today it has two crucial functions to perform.
On the one hand it provides individuals with a way of protecting themselves and their families against unforeseen future disaster and of saving for the future, and on the other it gathers together all these individuals' small savings and invests them together to produce greater wealth.
In the first instance this strategy benefits policyholders, but in the long run it also benefits the community as a whole.
Life insurance companies have thus a critical part to play in modern economic life, and since their assets total close to £231,000 million in 2011. it is easy to see why. Each year insurance companies invest over £22,500 million on their policyholders' behalf and each year 2 million new policies are added to the 18 million already currently in force.
Statistics show that the British are the most life-insurance conscious nation in Europe, devoting over 3% of their national income to life insurance premiums compared with under 2% for other European countries across the Channel.
That in itself helps to explain the purpose of this website, for the number of companies issuing policies in the UK and the variety of policies available have increased substantially in recent years.
As the message that Government expenditure must be restrained is made daily more clear by politicians and the vision of the all-providing Welfare State recedes, the responsibility for taking care of future financial commitments and needs weighs more heavily on the individual's shoulders, and the correct choice of means to meet those needs, for those without special knowledge, more important than ever.
Though a glance at the headings to each part of this site, will show that there are many different types of life insurance policy, the basic aim of all life insurance is simple.
It is to provide a guaranteed sum (the "sum assured") on the death of the insured life or at a specified future date (the "maturity date") in the case of an endowment policy.
The sum assured may be needed to pay off a mortgage if the breadwinner (or one of them) dies, or to help a widow (or widower) bring up........ see: click here for Life Insurance Explained
Our insurance website is an independent marketing website which acts as an introducer to 'whole of market' companies who offer specialist Independent Financial Advice. Each company is authorised and regulated by the Financial Services Authority.
We are not authorised to give advice and we are not liable for any financial advice provided by, or obtained through a third party. The information published on this website is for information purposes only. This site has been approved for compliance purposes by a Firm of Independent Financial Advisors who are authorised and regulated by the Financial Services Authority (FSA). The Chartered Insurance Institute
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