Another term for ‘Accident, Sickness & Unemployment Insurance’ where the policy holder is paid a monthly income should they loose their job through no fault of their own.
Retail Price Index
This is a statistical measure of the UK’s inflation. The measurement is updated on a monthly basis and some over 50 life insurance policies are linked to the RPI to help protect their value from the effects of inflation.
Renewable Term Insurance
This is an option where a life insurance policy can be renewed at the end of it’s term for the exact same amount of cover without the need for a medical report.
This is most common with Over 50 Life Insurance Policies but please note that if you are over 65 at the time of your policy expiring, you may experience difficulties renewing for the same amount.
This is where you have been made unemployed by your employer through no fault of your our such as staff cuts, relocation, the employer going bust etc.
This is where your premiums can be reviewed and increased if required by the insurance provider.
This is the term given to the evaluation of the chances of an applicant making a claim on an insurance policy. Each risk assessment is calculated on an individual basis taking into account an applicants lifestyle, occupation, current state of health, family medical history etc
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