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Making sure family and loved ones are taken care of is a primary concern for most people, so with that in mind, what would happen if you were no longer their to provide for them?

How would your loved ones manage financially, would they be able to cope with the mortgage payments and the many other costs that may arise? The cost of Life Insurance has reduced dramatically over the years and should now be considered as a must have policy to protect you and your family, so should the unexpected happen cover is in place.

With so many different types of life insurance policies on the market these days it can be quite confusing deciding on the right product for you. E&L have partnered with theidol.com who offer a range of competitive quotes from a panel of leading UK Life Insurance providers.

Life Insurance protects you, your family and your lifestyle, so if the worst happens you are protected financially. Some examples of why Life Insurance is so important and how it can help are shown below.

  • It will allow you to pay off your mortgage.
  • It will help contribute towards your dependants' present and future education costs.
  • It will provide finance to help maintain your families lifestyle.
  • It will enable credit card or personal loan debts to be paid off.

There are two main types of non investment fixed term life insurance, Level Term Life Insurance and Decreasing Term Life Insurance. Both offer a high level of Life Insurance cover for a reasonable amount of money.

In essence Level Term Life Insurance is designed to pay out a fixed cash lump sum in the event of your death. This type of Life policy provides a constant sum insured value throughout the term of the policy.

Mortgage Life otherwise known as decreasing Term Life Insurance can help ease your family's financial situation should you die before the end term of your policy. It is designed to pay off the outstanding balance of the mortgage on your home with a cash lump sum.

Critical Illness cover can also be added to level term life insurance and decreasing term life insurance for an additional premium. The benefit of adding Critical Illness cover means that the policy will pay out either on death or the diagnosis of a specified critical illness, whichever occurs first.

Does not provide life insurance cover but is aimed at providing a regular income in the event that you are unable to continue working due to sickness or accident.