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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
BHF encourages exercise
19 September 2007 17:28:20
The British Heart Foundation (BHF) has highlighted the poor attitudes most Brits have towards health and exercise.
A lack of exercise can lead to obesity, depression and a wide range of potentially fatal conditions such as cancer and heart disease - both of which will drive up the cost of life insurance.
In spite of the overwhelming dangers associated with unhealthy living, however, the BHF poll found that just a third of the population is achieving the minimum recommended daily amount of 30 minutes exercise a day.
Even more alarmingly, less than four in ten people would take up exercise if told by a doctor that their life depended on it.
"With our busy lifestyles and labour-saving devices we've stopped getting the exercise our bodies desperately need," said Dr Mike Knapton, director of prevention and care at BHF.
"For many people, exercise has become an ugly word, something to avoid at all costs - but you'd be amazed how easy it is to up the tempo of your heartbeat."
The latest BHF poll comes in the wake of a report from the Food Standards Agency that revealed Brits are also failing to ensure they maintain healthy nutritional standards.
British Skin Foundation emphasises cancer risks
08 May 2007 11:41:02
National Sun Awareness Week began yesterday, with charities aiming to improve public understanding of the threat posed by the sun.
In conjunction with the sun safety week, the British Skin Foundation has launched a Skin Cancer Appeal, hoping to educate people about the risks of sun exposure.
A spokesperson for the Foundation said that too few people took effective precaution against the sun.
"Unfortunately, we are a tan-seeking nation and the misconception that tanned skin is healthy skin is dangerous.
"The sun damages the skin and not enough people are educated about the dangers," the spokesperson added.
The statement also outlined some safeguards against potential exposure to skin cancer:
"We recommend not using a sun bed at all. It is extremely important to know your skin type so that you are sure of what precautions to take when in the sun, including what number SPF to use."
The appeal follows the distressing recent findings of a Cancer Research UK survey, with 30 per cent of 16 to 24 year-olds claiming they were certain to get sunburnt on holiday.
Workers to get financial 'education'
12 November 2007 12:14:57
Life insurance and critical illness cover are some of the options to be explored by people as employers are encouraged to help "financially educate" workers.
As AXA's My Budget Day approaches this month, a roundtable debate organised by the insurer concluded that such financial education would contribute to improving the nation's finances.
"My Budget Day does not involve any product push. Employees are left to their own devices and can draw their own conclusions on what they should do next," explained AXA chief executive Paul Evans.
The life insurance provider wants employers to help their employees kick-start the financial planning habit by allowing them to spend the first hour of My Budget Day reviewing their finances in the workplace.
A report from fellow insurer Norwich Union recently revealed that many Britons do not give enough thought to safeguarding their financial futures through solutions such as life insurance, critical illness cover or unemployment protection.
According to AXA, which has already pledged an hour to its 12,000 employees for them to re-evaluate their financial health, money is one of the major causes of stress for adults and as such it is a major cause of employee absenteeism, with the annual cost of stress to UK plc estimated at around £9.6 billion.
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
19 September 2007 17:28:20
The British Heart Foundation (BHF) has highlighted the poor attitudes most Brits have towards health and exercise.
A lack of exercise can lead to obesity, depression and a wide range of potentially fatal conditions such as cancer and heart disease - both of which will drive up the cost of life insurance.
In spite of the overwhelming dangers associated with unhealthy living, however, the BHF poll found that just a third of the population is achieving the minimum recommended daily amount of 30 minutes exercise a day.
Even more alarmingly, less than four in ten people would take up exercise if told by a doctor that their life depended on it.
"With our busy lifestyles and labour-saving devices we've stopped getting the exercise our bodies desperately need," said Dr Mike Knapton, director of prevention and care at BHF.
"For many people, exercise has become an ugly word, something to avoid at all costs - but you'd be amazed how easy it is to up the tempo of your heartbeat."
The latest BHF poll comes in the wake of a report from the Food Standards Agency that revealed Brits are also failing to ensure they maintain healthy nutritional standards.
08 May 2007 11:41:02
National Sun Awareness Week began yesterday, with charities aiming to improve public understanding of the threat posed by the sun.
In conjunction with the sun safety week, the British Skin Foundation has launched a Skin Cancer Appeal, hoping to educate people about the risks of sun exposure.
A spokesperson for the Foundation said that too few people took effective precaution against the sun.
"Unfortunately, we are a tan-seeking nation and the misconception that tanned skin is healthy skin is dangerous.
"The sun damages the skin and not enough people are educated about the dangers," the spokesperson added.
The statement also outlined some safeguards against potential exposure to skin cancer:
"We recommend not using a sun bed at all. It is extremely important to know your skin type so that you are sure of what precautions to take when in the sun, including what number SPF to use."
The appeal follows the distressing recent findings of a Cancer Research UK survey, with 30 per cent of 16 to 24 year-olds claiming they were certain to get sunburnt on holiday.
12 November 2007 12:14:57
Life insurance and critical illness cover are some of the options to be explored by people as employers are encouraged to help "financially educate" workers.
As AXA's My Budget Day approaches this month, a roundtable debate organised by the insurer concluded that such financial education would contribute to improving the nation's finances.
"My Budget Day does not involve any product push. Employees are left to their own devices and can draw their own conclusions on what they should do next," explained AXA chief executive Paul Evans.
The life insurance provider wants employers to help their employees kick-start the financial planning habit by allowing them to spend the first hour of My Budget Day reviewing their finances in the workplace.
A report from fellow insurer Norwich Union recently revealed that many Britons do not give enough thought to safeguarding their financial futures through solutions such as life insurance, critical illness cover or unemployment protection.
According to AXA, which has already pledged an hour to its 12,000 employees for them to re-evaluate their financial health, money is one of the major causes of stress for adults and as such it is a major cause of employee absenteeism, with the annual cost of stress to UK plc estimated at around £9.6 billion.
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