Life insurance is one of the more difficult types of insurance to arrange properly. Should you ever need it then you sadly won't be here to see if you have chosen the right policy for your requirements.

If you are over 50 and looking for either your first life insurance or to top up your existing cover then it is important to consider all the eventualities.

Whole Life or Term Insurance?

There are basically 2 types of life insurance, whole life and term.

Whole life gives you cover for the rest of your life and as it is inevitable that you will die at some stage is the more expensive type of cover.

Term insurance covers you for a set term, usually anything from 5 years upwards.