Your Motor 2 U Online
Welcome to Your Motor 2 U Online!

Insurance Articles


Term Life And Whole Life Insurance
By Ivon T. Hughes


Ppi Reclaim
Banks had it their own way for quite some time. Fat cats were getting their cream and their poor customers were being fleeced in the process. They`d go cap in hand to the banks for a loan and were offered payment protection insurance (PPI) at the same time. In many cases the rate for the loan would be lower if PPI was taken out at the same time making it seem more attractive. However, the cost of PPIs could vary from 13% right up to 56% of the loan amount. Moreover, clauses were often put into the policies that meant they wouldn`t pay out anyway in times of sickness or redundancy. People have wised-up in recent times and those who think they might have been pressured into paying for, or misled about a policy, can speak to claims management teams about a possible Ppi Reclaim. They could be entitled to thousands of pounds if the Ppi Reclaimis successful. If you weren`t given all of the facts about your PPI in the past then you have a strong case for the Ppi Reclaim. Why should the banks get away with fleecing their customers over a number of years, especially with regards to payment protection insurance? Customers who think that they might have been treated unfairly have a strong right of appeal.


Which type of policy is best for you, term or whole life? The answer depends on several factors, including:

Your Needs. If you need coverage only until your children graduate from college, for example, you might be better off with a term life policy.

Cash-value insurance is better suited for long term needs, such as planning estate taxes and providing lifetime security for your spouse. Some term policies cannot be renewed past age 70 or 80 and can become costly to renew as you approach that age.

The Cost. If term life insurance is more suited to your budget and you want life time coverage, consider a term life policy which can be converted into a whole life policy. Then you can convert the policy whenever your cash flow or needs dictate. You can also purchase a combination of term life and whole life insurance and gradually shift into whole life insurance over time.

Your Savings and Investment Goals. Whole life insurance can be a good long term investment vehicle, especially because the cash value has the potential to grow tax-deferred. Should you no longer need the insurance but want some extra cash, you may surrender the policy and collect the accumulated cash value. Be sure to discuss the tax consequences with your tax advisor first.

As an alternative, you could purchase term life insurance and invest what you save on premiums on your own. Compare the returns you can expect, and remember to take taxes into consideration if you plan to select taxable investments.

So, Should I Buy Term Life or Whole Life Insurance? Term life and whole life insurance both have advantages including immediate family protection. Deciding which type of policy and which features are right for you takes careful consideration and, most times, a comprehensible look at your financial plan. To discuss your life insurance needs and financial requirements, contact your financial professional.

For more information about this article and/or the author visit mailto:info@trustco.ca

For more information, news and articles see:

Jet Ski Insurance - Jet Ski Insurance
... with us for some time now in the UK and there are many makes and models that frequent numerous Jet Ski Insurance water centres. Taking to the wet stuff on your powerful jet ski will be an exhilarati...
Visit Jet Ski Insurance...

Loading Bay Equipment - Loading Bay Equipment
...pment, you are able to load and unload all your merchandise with great ease and efficiency. We provide high quality equipment which is cost effective as well. We implement all possible safety standard...
Visit Loading Bay Equipment...

Ppi Claims - Ppi Claims
...surance on your loan. The representative from the bank seemed to bamboozle you with facts and figures and to be honest; you didn`t quite understand what was going on. You just wanted the loan becaus...
Visit Ppi Claims...

Courier Insurance - Courier Insurance
...ostly or important. Losing such document or parcels can mean huge losses for some people. Therefore,Courier Insurance has become an important consideration for any one using mailing services. It is no...
Visit Courier Insurance...

Marina Insurance - Marina Insurance
...f different policy wordings from a variety of companies, this is a guide is to help you decide what sort of policy would suit you more and give you the exact cover you need. You have to look for value...
Visit Marina Insurance...

Car Gap Insurance - Car Gap Insurance
... heard of car gap insurance until recently. I suppose unless you buy a car on finance you might not know about such policies. As I understand it the car gap insurance covers you in the event of a ca...
Visit Car Gap Insurance...

Dock Levellers - Dock Levellers
...your vehicles near for loading and unloading your various goods. Our levellers are extremely strong and durable, and are made to handle your vehicle with ease. You are given easy operational control a...
Visit Dock Levellers...

Gap Insurance - Gap Insurance
...e know what gap insurance is? I know that I had never heard about this type of insurance before until it was brought to my attention recently. The gap insurance covers the deprecation on a car in th...
Visit Gap Insurance...

Mis-sold Ppi - Mis-sold Ppi
... in love with this slinky, silver sports car and being a single male at the time, with plenty of disposable income, I thought I`d treat myself to this flashy kind of motor. The bank eventually approv...
Visit Mis-sold Ppi...

Hgv Courier Insurance - Hgv Courier Insurance
...Courier Insuranceis a very different type of insurance that you would normally purchase for a delivery business. So there are now insurers who specialise specifically in more complex insurance policys...
Visit Hgv Courier Insurance...


Click For More Detailed Information on:

Home  |  About Us  |  Contact Us  |  Articles  |  Special Reports  |  Links  |  Site Map

Copyright © 2003-2010. All Rights Reserved.


Valid CSS!