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Home / - The Legal principles of Life Assurance
Life assurance is subject to the general principles of English law but also has some of its own special laws. A life policy is a contract between the insurer and the life assured, and the formation of that contract is subject to the normal requirements of the law of contract for it to be valid. There are five requirements, all of which must be complied with, for a life assurance contract to be legally binding. They are:
- Offer and acceptance
- Consideration
- Capacity to contract
- Legality of object
- Consensus Ad Idem.
Click below to learn more about the legal principles under the headings.
Offer and Acceptance
Consideration
Capacity to Contract
Legality of Object
Consensus of Ad Idem
Duty of Disclosure
Proof of Death
Suicide Clause
Unlawful Acts
Simultaneous Deaths on Joint Life Insurance Plans
Consideration
Capacity to Contract
Legality of Object
Consensus of Ad Idem
Duty of Disclosure
Proof of Death
Suicide Clause
Unlawful Acts
Simultaneous Deaths on Joint Life Insurance Plans
Dying Without a Will in England
Dying Without a Will in Scotland
Dying Without a Will in Northern Ireland
Your Will Can Be Changed After You Die
Trusts
Access to Medical Reports Act 1988
Inheritance Tax (IHT)
Will Jargon is Explained
NEWS
New heart disease genes discovered
20 July 2007 14:34:50
Six new genetic variants that increase the likelihood of suffering a heart attack have been discovered, underlining the importance of a healthy diet and lifestyle.
In response to the research published in the New England Journal of Medicine- which revealed the increased genetic risk of heart disease - the British Heart Foundation have stressed the need for people across the UK to do their utmost to prevent heart disease.
Professor Jeremy Pearson, Associate Medical Director of the UK's leading heart charity, said: "We already know that we can control many things in everyday life to reduce our risk of getting heart disease, for example, not smoking, eating a healthy diet and taking regular physical activity.
"This new research is helping us work out the other side of the story - the role our genes play in contributing to heart disease. They tell us that some people carry a higher risk because of genes they’ve inherited."
He continued: "We're not yet at the stage where screening can tell us who has these genes, so it makes sense for everyone to take control of their health and minimise their risk."
The British Heart Foundation estimates that 91,000 men under 75 in the UK suffer a heart attack every year, while 31,000 women are affected.
Bilberry extract 'could prevent cancer'
04 October 2007 16:30:08
Critical illness
cover is in the spotlight as scientists investigate whether a bilberry extract can prevent or delay the onset of some types of cancer.
A University of Leicester research project funded by charity Hope Against Cancer has been carrying out trials on patients about to undergo surgery for colorectal and liver cancer.
The scientists have already established that an extract from bilberries can slow down the development of colorectal cancer.
They are now seeking to find out if taking the substance over a long time may be beneficial.
"Modern medicine is increasingly trying to find ways to prevent diseases from developing," commented Sarah Thomasset, one of the scientists involved.
"Our research project is looking at substances which can be taken as tablets and which may slow down the development of a cancer, or even prevent it from occurring in the first place," she added.
She highlighted that such substances could be used in the future in drugs to stop cancers from developing in apparently healthy people, or to prevent it recurring in patients who have had successful treatment.
Experts have often considered blue and red-coloured berries to have positive health effects.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online.
Critical illness cover could be right for you
30 May 2007 15:44:24
An insurance expert has argued that critical illness cover, rather than life insurance, could be the best option for your family.
A recent report by consumer watchdog Which? said that life insurance or income protection cover could be preferable to critical illness cover, but David Thomson of Best Deal Insurance has called its findings "cynical and hypocritical".
Though Mr Thomson approved of the Which? recommendation that customers read the small print on their policy carefully - around 20 per cent of claims are rejected due to confusion over non-disclosure - he did not agree that critical illness cover was "a luxury product".
"No other policy does what critical illness does. There is no way that critical illness is a luxury and it worries me that comments from such a trusted organisation as Which? could turn people off from buying it, leaving them financially vulnerable at a time when they need it most.
"If our client had just life insurance and income protection as the Which? report suggests that consumers do, then there would be no lump sum payment and no money available for medical treatment. And income protection will pay just half your monthly income."
The Association of British Insurers recently introduced new critical illness cover definitions, with many insurers adding extra cover to their policies to give consumers the best possible protection.
20 July 2007 14:34:50
Six new genetic variants that increase the likelihood of suffering a heart attack have been discovered, underlining the importance of a healthy diet and lifestyle.
In response to the research published in the New England Journal of Medicine- which revealed the increased genetic risk of heart disease - the British Heart Foundation have stressed the need for people across the UK to do their utmost to prevent heart disease.
Professor Jeremy Pearson, Associate Medical Director of the UK's leading heart charity, said: "We already know that we can control many things in everyday life to reduce our risk of getting heart disease, for example, not smoking, eating a healthy diet and taking regular physical activity.
"This new research is helping us work out the other side of the story - the role our genes play in contributing to heart disease. They tell us that some people carry a higher risk because of genes they’ve inherited."
He continued: "We're not yet at the stage where screening can tell us who has these genes, so it makes sense for everyone to take control of their health and minimise their risk."
The British Heart Foundation estimates that 91,000 men under 75 in the UK suffer a heart attack every year, while 31,000 women are affected.
04 October 2007 16:30:08
Critical illness
cover is in the spotlight as scientists investigate whether a bilberry extract can prevent or delay the onset of some types of cancer.
A University of Leicester research project funded by charity Hope Against Cancer has been carrying out trials on patients about to undergo surgery for colorectal and liver cancer.
The scientists have already established that an extract from bilberries can slow down the development of colorectal cancer.
They are now seeking to find out if taking the substance over a long time may be beneficial.
"Modern medicine is increasingly trying to find ways to prevent diseases from developing," commented Sarah Thomasset, one of the scientists involved.
"Our research project is looking at substances which can be taken as tablets and which may slow down the development of a cancer, or even prevent it from occurring in the first place," she added.
She highlighted that such substances could be used in the future in drugs to stop cancers from developing in apparently healthy people, or to prevent it recurring in patients who have had successful treatment.
Experts have often considered blue and red-coloured berries to have positive health effects.
Direct Life and Pensions Services Ltd are one of the UK's leading providers of life insurance, term life assurance, mortgage protection, critical illness and life insurance advice online.
30 May 2007 15:44:24
An insurance expert has argued that critical illness cover, rather than life insurance, could be the best option for your family.
A recent report by consumer watchdog Which? said that life insurance or income protection cover could be preferable to critical illness cover, but David Thomson of Best Deal Insurance has called its findings "cynical and hypocritical".
Though Mr Thomson approved of the Which? recommendation that customers read the small print on their policy carefully - around 20 per cent of claims are rejected due to confusion over non-disclosure - he did not agree that critical illness cover was "a luxury product".
"No other policy does what critical illness does. There is no way that critical illness is a luxury and it worries me that comments from such a trusted organisation as Which? could turn people off from buying it, leaving them financially vulnerable at a time when they need it most.
"If our client had just life insurance and income protection as the Which? report suggests that consumers do, then there would be no lump sum payment and no money available for medical treatment. And income protection will pay just half your monthly income."
The Association of British Insurers recently introduced new critical illness cover definitions, with many insurers adding extra cover to their policies to give consumers the best possible protection.