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Policy Types
Getting Technical
Level Term Life Insurance is designed to provide an amount of lump sum life insurance where the amount that would be paid out on death (or critical illness) stays the same during the policy term.
The premiums are determined at outset and are usually guaranteed for the full term of the policy, provided premiums are paid when due. Reviewable premium plans are available, but are not widely used. The graph below shows how the sum assured remains constant over the policy term.
Level Term Life Insurance has traditionally been used by advisers for family protection needs and/or to cover Interest Only mortgages. In addition Family Income Benefit Life Insurance (described later) is also recommended to meet family protection needs.
NEWS
Standard Life confirms possible takeover bid
16 October 2007 16:43:54
Life insurance provider Standard Life has confirmed that it is in talks to take over rival firm Resolution.
The Scottish insurer said any offer would be "mainly in cash" with the rest in shares.
A deadline of a week on Thursday has been set for both Standard Life and fellow life cover company Pearl to announce their bid intentions.
Meanwhile, life insurance and critical illness firm Resolution is going ahead with its planned merger with Friends Provident, which will form Friends Financial.
"Our focus is on completing the merger. We will not be distracted from this unless a very compelling offer is made for Resolution," commented Clive Cowdery, the firm's executive chairman.
A Standard Life spokesperson pointed out that a merger would enable the company to "accelerate the rate of its own organic growth" by expanding its product range.
The life cover provider recently overhauled its income protection plan, increasing the maximum benefit on it from £125,000 to £150,000.
Previous medical exclusions for the cover such as pregnancy and HIV were removed to allow more consumers to protect their family's future.
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.
Spot test speeds cervical cancer detection
10 April 2007 16:09:20
A new spot test could speed cervical cancer detection.
Scientists working in developing countries found that a cell staining technique could detect cervical cancers more quickly than smear analysis.
Smear tests require the kinds of highly skilled technicians and advanced laboratory equipment which developing countries often lack.
The research, which involved 455 women, was carried out by the UK's Medical Research Council's Cancer Cell Unit and Cancer Research UK, along with doctors and laboratory technicians from the Kidwai Memorial Hospital of Oncology, Bangalore, India.
Research leader Dr Nick Coleman said: 'Cervical screening is limited to specialist institutes in India so most women don't have access to a smear test.
"If more women were screened, the number who go on to develop cancer could potentially be reduced.
"A test that allows a laboratory technician to find these cells faster, more easily and with greater certainty, should make cervical screening available to more women, as it is a lack of lab resources that prevents women from accessing this potentially life-saving test', she added.
126,000 women are diagnosed with cervical cancer every year in India.
This figure compares with 2,800 in the UK.
Life insurance giant supports reserve forces
05 June 2007 12:53:26
Leading UK life insurance firm Norwich Union has urged employers to support staff-members who want to join the reserve forces.
Patrick Snowball, executive chairman of Norwich Union, paid tribute to the importance of reservists on BBC Radio Five Live's 'Wake Up To Money' programme.
"If you look at the fact that currently six per cent of the troops in theatre are reservists, they are an integral part of the services," he commented.
"Therefore it is absolutely vital, particularly for large employers, to give as much support and encouragement as we possibly can to people who are either deciding to join or who have already joined the reserve forces."
Mr Snowball agreed that reservists could cause more disruption for small businesses:
"The burden, if that is the right word, should fall quite rightly on the larger employer who can release people more easily than the small ones."
A number of employees for the life insurance company are reservists, currently serving in Afghanistan.
16 October 2007 16:43:54
Life insurance provider Standard Life has confirmed that it is in talks to take over rival firm Resolution.
The Scottish insurer said any offer would be "mainly in cash" with the rest in shares.
A deadline of a week on Thursday has been set for both Standard Life and fellow life cover company Pearl to announce their bid intentions.
Meanwhile, life insurance and critical illness firm Resolution is going ahead with its planned merger with Friends Provident, which will form Friends Financial.
"Our focus is on completing the merger. We will not be distracted from this unless a very compelling offer is made for Resolution," commented Clive Cowdery, the firm's executive chairman.
A Standard Life spokesperson pointed out that a merger would enable the company to "accelerate the rate of its own organic growth" by expanding its product range.
The life cover provider recently overhauled its income protection plan, increasing the maximum benefit on it from £125,000 to £150,000.
Previous medical exclusions for the cover such as pregnancy and HIV were removed to allow more consumers to protect their family's future.
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.
10 April 2007 16:09:20
A new spot test could speed cervical cancer detection.
Scientists working in developing countries found that a cell staining technique could detect cervical cancers more quickly than smear analysis.
Smear tests require the kinds of highly skilled technicians and advanced laboratory equipment which developing countries often lack.
The research, which involved 455 women, was carried out by the UK's Medical Research Council's Cancer Cell Unit and Cancer Research UK, along with doctors and laboratory technicians from the Kidwai Memorial Hospital of Oncology, Bangalore, India.
Research leader Dr Nick Coleman said: 'Cervical screening is limited to specialist institutes in India so most women don't have access to a smear test.
"If more women were screened, the number who go on to develop cancer could potentially be reduced.
"A test that allows a laboratory technician to find these cells faster, more easily and with greater certainty, should make cervical screening available to more women, as it is a lack of lab resources that prevents women from accessing this potentially life-saving test', she added.
126,000 women are diagnosed with cervical cancer every year in India.
This figure compares with 2,800 in the UK.
05 June 2007 12:53:26
Leading UK life insurance firm Norwich Union has urged employers to support staff-members who want to join the reserve forces.
Patrick Snowball, executive chairman of Norwich Union, paid tribute to the importance of reservists on BBC Radio Five Live's 'Wake Up To Money' programme.
"If you look at the fact that currently six per cent of the troops in theatre are reservists, they are an integral part of the services," he commented.
"Therefore it is absolutely vital, particularly for large employers, to give as much support and encouragement as we possibly can to people who are either deciding to join or who have already joined the reserve forces."
Mr Snowball agreed that reservists could cause more disruption for small businesses:
"The burden, if that is the right word, should fall quite rightly on the larger employer who can release people more easily than the small ones."
A number of employees for the life insurance company are reservists, currently serving in Afghanistan.