Life Assurance Quotation - Lump Sum 

There are many types of life assurance quotation. The simplest maybe is known as term insurance because you choose how what term the plan is for ie; how long you're covered for, say, 10, 15, 20 or 25 years (the term). Term life insurance only pays out if you die within the term you've agreed. If you live longer than the term, you get nothing. As a couple, you can also take out joint (with the policy paying out if either of you die during the term), or single Family Life Insurance term cover (so try to get several life assurance quotations). Also consider how large the term life cover you need if you get a life assurance quotation - if this is not covering say just a debt like a mortgage or loan. Common practise is to cover minimum say 10 x salary.

The alternative quote to get is for whole life assurance becuase unlike term cover this policy will payout, as it does not have an end term. Generally speaking your life assurance quotation will me more expensive for this product, especially if it is guaranteed premium.

Things to look out for if requesting this type of term life assurance quotation or whole life Life Assurance Quotation ...What type of new Family life cover policy do you want? For example

• Increasing policy (where cover and premium rise over the years)
• Renewable policies (which let you extend the original term).
• Guaranteed (where life insurance premiums stay the same throughout the policy ) 
• Reviewable premiums (where life cover premiums may go up every year, 5 years or increase at a review)
• Lifecover or/also Critical Illness Cover
• Waiver of Premium (where the Insurer waives/protects & covers your premiums after a deferred period of 4/8/13/26 weeks due to sickness or accident)

Life Assurance Quotation - Income Benefit

If you get this Life Assurance Quotation - this plan pays out income to your Family rather than a lump sum & maybe suitable for those who require income for their family on death. Unlike lump sum cover, Family Income Benefit plan is effectively a decreasing type of cover, as the benefits gradually down as they approach the end policy term.