Mortgage Protection. Easing your biggest concerns.: Most homeowners have life insurance to repay their mortgage if they were to die. But death is only one of many risks. What other risks threaten your mortgage and how can they be offset? This article investigates and offers some solutions.
Life Insurance. Why There's No Need to be a Desperate Housewife: This article highlights some of the mistakes people make when buying life insurance and draws to your attention the attraction of family income benefit insurance, a form of life insurance to provide income for families.
Life Insurance. Why There's No Need to be a Desperate Housewife: This article highlights some of the mistakes people make when buying life insurance and draws to your attention the attraction of family income benefit insurance, a form of life insurance to provide income for families.
Life Insurance Without Life Value Why Young People Are Snubbing Financial Advice: An interesting article dealing with the lack of awareness in the young about their personal financial situation.
Life Insurance and the Law. A layman's introduction.: This article is an introduction to the regulatory and legal aspects of buying Life Insurance which the layman should find interesting and useful. Special reference is made to buying life insurance on the Internet.

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Summary

At last many of us can qualify for tax relief on a new life insurance policy. That's great, especially if you're a higher rate taxpayer! This article explains.

Life Insurance. 50% of new life insurance policies sold qualify for tax relief.

In the last Budget, Gordon Brown put back the clock some twenty plus years by announcing that life insurance can attract tax relief. However, tax relief only applies to a particular new sort of life policy.

The initial response from life insurance professionals was subdued. That was until the full extent of the savings became appreciated. Standard taxpayers can save around 15% and higher rate taxpayers can save a hefty 30% off the cost of their life insurance premiums. And it now looks as if up to 50% of all new policyholders can make these savings!

These new policies are marketed under a number of names ranging from Level Term Pensions Life Insurance to just plain Pensions Life Insurance. But don't be put ( bad credit loans ) off by the word "pensions" - you don't have to buy a pension and neither do you have to have a pension already! The word "pensions" is there because the legislation which introduced the tax loophole for these policies is part of a wider change in tax legislation which relates to primarily to pensions and Inheritance tax.

You should be aware that not everyone will qualify for these tax savings and a Pensions Life Insurance policy will not suit everybody. That's why these policies must ( best mortgages ) be bought from a broker who will advise you. And because of the nature of these special policies, at the moment you can't get a live quote on your computer screen - the broker will have to get competitive quotes and phone you back.

So what does Pensions Life Insurance do? It pays out a lump sum if the policyholder dies or is diagnosed with a terminal illness which will result in death within twelve months.

But there's only one type of policy available: there can only be one policyholder (joint policies are not available but you could take out a policy for yourself and a ( car insurance ) separate policy for your partner), and the cover remains constant for the duration of the policy. Neither can you add critical illness cover into the policy.

That means that a Pensions Life Insurance policy will not be the cheapest way to protect a repayment mortgage unless you're happy to buy more cover than you actually need to repay the mortgage. If sadly, there is a payout, then with a Pensions Life ( medical insurance ) Insurance policy, your mortgage would be repaid and any the surplus could go to your family. However, if you want the cheapest way to protect a repayment mortgage, then a low cost Mortgage Life Insurance policy with decreasing cover will almost certainly be the best solution - but you won't get tax relief on your premiums!

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