Term life cover is designed to provide protection over a specified period of time. An example would be life cover for a mortgage, designed to pay of the mortgage during the mortgage term. Another example would be to protect children that are dependent. Please note that you do not insure the children, rather the children's parents whom they are dependent on. For instance if one or both parents died there would be lump sum payable if the event occurred during the policy term. It should also be noted that term insurance is normally non investment and as such has no cash in value, if you cancel the policy.
If you need a quote for life insurance, then the internet certainly offers many options to obtain an online quote. However you need to think carefully before looking for term life insurance quotes online. Before searching online, consider how much cover you require and over what term. You might also wish to consider whether you need additional cover such as critical illness or waiver of premium.
If you are not sure what these additional covers are, then please speak to and independent financial adviser. Some of the online quote systems will also include quotes from independent financial advisers as well as insurance companies. This means you will receive more comprehensive quotes from the whole market.
Online life cover quotes will provide you with a quote and no more, so do ask questions if you are not sure of the cover you require. Also remember that term life insurance differs from whole of life cover, which as the name suggests is designed to provide life insurance for life. This type of cover tends to be slightly more expensive than term assurance due to its longevity and possible investment content.
