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Resources |
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CarInsuranceDirectory -
visit this online directory for all your car insurance UK needs and queries. |
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Help and guidance |
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UK Life Insurance Tips |
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- The only way to ensure that you
are getting the best deal possible that is available to you is to do the legwork
yourself. Look around and see what is on offer, getting quotes from a number of
providers. Think about your choice carefully, and be sure to take cover into consideration
as well as cost.
- Before you take on any UK life insurance policy
it is of vital importance that you fully understand the terms and conditions of
the agreement that you are about to sign. Watch out for any exclusions which would
prevent the policy from paying out. If there is anything that you are remotely
unsure about, make sure you ask your insurer to explain it.
- Remember
that UK life insurance is a long-term commitment; think carefully about whether
or not you will be able to keep up your premium payments before you agree to them.
- Non-smokers will receive lower UK life insurance premiums than their smoking
counterparts. If you smoke, consider giving up, improving both your health and
your finances.
- It is not advisable to surrender a UK life insurance
policy at any time as it will usually mean you losing money. Remember that most
UK life insurance providers will allow you to borrow against the cash value of
your life insurance UK policy at very favourable interest rates.
- Making
payments more frequently than annually may be more convenient, but you may be
charged extra for the additional administration charges, so watch out for this.
- When applying for UK life insurance it is of the utmost importance that
you provide full and correct information. If you are misleading then you could
render your UK life insurance contract null and void, hence cancelling any potential
claim pay outs.
- Most UK life insurance policies will have a ‘cooling
off’ period that will allow you to cancel your UK life insurance policy
and obtain a full refund within a certain time after the policy start date. This
will allow you peace of mind and allow you to pull out if you feel you aren’t
happy with anything.
- It is important to make sure that you are neither
under- or over-insured- this will mean that you’ll either be paying over
the odds or not providing yourself with adequate cover.
- The FSA, or
Financial Services Authority, is the main independent regulatory organisation
for financial services in the UK, as set up by the government. If your insurer
is a member of the FSA then you can be sure that you will be protected as a consumer
and that you will have a clear complaints-procedure to fall back on.
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