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Summary

Higher rate taxpayers can save considerably as new ( cheap secured loans ) rules are introduced in April 2006. This article gives you the low-down.

 

Life Insurance. Savings to be made with combined Life Insurance and pension policies. Page 2

 

Author: Anna Richardson

 

You also need to be aware of the following:

1. This new rule is only applicable to life insurance and pension policies that are taken out together after April 2006. If you have an existing life ( car insurance quotations ) insurance policy and pension then you can't convert it, you'll have to start again with a new policy.


2. The life insurance can only be in one name. Getting a joint

life insurance

policy will not be an option with the new combined policy.

3. You will not be able to add critical illness cover onto your life insurance. People often combine these two types of insurance but that will not be an option. You'll have to buy a standalone policy if you want critical illness cover.

It's a big decision that requires a lot of weighing up, so we advise really ( motor insurance ) doing your homework first. When you first arranged your life insurance, you will have been a lot younger and possibly a lot healthier. Medical conditions, age and being overweight will all take their toll on your premiums. You may find that your new premiums are considerably more than with your old policy. Being overweight could make a huge difference, in fact they may decline your application altogether if they consider you to be too big a risk, and the same could happen if you have a medical condition.

We are warning you of this because it's essential that you ( bad credit loans ) don't go ahead and cancel your existing life cover until you know that you have been accepted onto the new policy, and you have confirmation in writing. You also need to know exactly what your new premiums will be, and decide if it is worth changing. Don't do it if you won't make a saving - that would be the only reason to change.