About Friends Provident Life Insurance

Friends Provident Life Insurance Company believes that in these uncertain times, people need to protect themselves and that would be with life insurance and other plans in order to make sure a policy holder's family, their income and their lifestyle is protected financially from the worst that could happen.

This insurance company offers various Life Covers which encompasses critical illness cover and income protection.

To help safe-guard the insured's family and their future, life coverage will pay a lump sum cash settlement to the remaining family or beneficiary chosen by the policy holder for them to cover medical expenses, funeral costs or any outstanding debit the insured may have left behind.

The life coverage policy has no cash-in value which means a policy holder must keep up the premiums and the insurance company will only pay out when the insured passes away.

Beginning with level life insurance, this simply means that the insurance sum will stay level throughout the policy, unlike decreasing or increasing term life insurance which goes up or down depending on the plan.

The Friends Provident Life Insurance Company has options to go along with the life coverage such as the critical illness coverage policies. Critical illness cover offers an insured the option to add this coverage to a term life or level life policy. This additional insurance will cover the major money earner in the household in case they are incapacitated by a critical illness like cancer or other terminal illnesses. The insurance company will make monthly payments to the family until the insured's death. With advancements in technology, people are living with terminal illnesses longer; however they may not be able to work so this type of insurance would be beneficial as a source of income for an insured family.

The advantages of adding critical illness cover to an existing policy are that the proceeds are tax free, it is possible for an insured to protect themselves from a wide range of illnesses and conditions and this coverage provides peace of mind in a time of personal crisis for many individuals and their families.

With the critical illness cover package, an individual will expect to pay a higher premium compared to the conventional plans, terms and conditions vary widely from company to company so comparing prices is often difficult and the biggest disadvantage to the critical illness coverage is that medical evidence is required for those who are requesting a significant amount of coverage or those already in poor health.

The income protection policy will help a family maintain their standard of living once the main breadwinner of the family passes away if they are insured under this type of policy. The insured's income is protected in case of an accident or untimely death, this means that their family will be able to pay outstanding medical bills, funeral costs or anything they deem necessary.

There are many choices for life insurance coverage. It is important to compare prices and coverage of major companies before choosing the one that works best for an individual and their family.