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How Covid-19 has changed UK life Insurance

Covid-19 has inspired many people worldwide to reconsider their financial habits. The experts are confident that some people will be more careful with their expenses, but will stop saving on life insurance, as the policies have proved their reliability during a pandemic.
How Covid-19 has changed UK life Insurance

As you may know, there are several types of insurance of your life, if your health can be assessed as good.

Insurance for a certain period of time, a life insurance plan, in which in case of your death the entire insurance amount is paid in the specified period of time. Some insurance plans pay even if you have been given a fatal diagnosis.

Mortgage loan protection: this type of life insurance is specifically designed to protect mortgage payments in the event of a premature death. Under this plan, the payment of the insured amount decreases over time in proportion to your mortgage loan payments.

Critical illness life insurance: unfortunately, the probability of incidence of fatal disease before reaching the age of 65 has increased. This life insurance plan provides a guarantee of your security in case of such unpleasant things as cancer, heart attack, stroke and multiple sclerosis; but at least you will be calm knowing that you can provide for yourself and your family without thinking of medical costs.

The experts believe all these insurance products will show growth in the near future.

Источник: https://www.financialexpress.com/money/how-covid-19-has-changed-the-direction-of-life-and-non-life-insurance/1988417/

Photos are from open sources.

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