Policemen - Looking for a Life Insurance policy ?
Police life insurance applications for most police officers, police constables, pcso & police sargeants maybe available at standard occupation rates with most insurance providers [ However, if your police job role may involve a higher degree of risk, then Insurers must be notified ]
Police Officer's Life Assurance - Term Insurance Cover
Term cover is the cheap type of life insurance cover quote, and is known as term assurance cover plan because you choose how what term ie; how long you're covered for, say, 10, 20 or 30 years (the term).
Term cover however 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 could take out a joint Life Cover plan in both your names, but the policy would only pay out on the 1'st death.
Things to look out for if requesting this cheaper type of Police Life Insurance Cover Quote Online ...
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 term)
Reviewable premiums (where life cover premiums may go up every year or 5 years gone up at a review)
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) as a Police officer
Note their is usually no cash in or surrender values for death insurance
Plan will end at the term
Police Life Insurance - Whole of Life Cover
Whole Life insurance policies are designed to always pays out upon your death - so logically are more expensive than term insurance as the risk is greater to the life insurance companies.
Benefits are currently paid out tax free on death
- Designed to pay out on death - whenever it occurs
- Whole Life Assurance Cover may be level or inflation linked
- Medical evidence may be required and a medical examination for those with health issues
- Premiums may be guaranteed or if investment based reviewable
- Maybe payable on death or earlier Terminal Illness
- Benefits can be set up to be payable into Trust
- Can be set up on sole or joint life 1st death claim basis