Buying the best Life Insurance you can for your loved ones
Protecting your family and taking care of those that you love is what matters most. One of the many questions we have at Life Insurance Cover is:
Can I custom-make a life insurance policy for my family?
The simple answer is yes, protecting your family is valuable to you. Your life insurance should reflect exactly how you feel about those you care for most. Our specialist advisors can help you choose the right level of protection for you.
Using our no obligation quote life insurance quote form will help you. Providing for your family finances in the unfortunate event of your passing away.
It has never been easier to get free life insurance advice
Our online life insurance quote form will ensure you receive only the best advice from our specialist advisors. At Life Insurance Cover we search the whole life insurance market including multiple respected life insurance companies. Allowing your life insurance quote is bespoke for you and your family’s needs.
The financial strain on a family when one income provider passes away can stressful, devastating as well the emotional heartache. Enquiring about a life insurance policy today. Will help to ease some the worry of paying the mortgage, outstanding loans, household bills and general living expenses. All the necessary financial commitments that a life insurance policy can provide for protecting your family.
No Jargon, Just friendly advice
Our team of friendly specialist expert life insurance consultants can talk you through the intricacies of life insurance policies. All of our team will breakdown into plain English the finer points of life insurance. At Life Insurance Cover we advise on all the different types of life insurance. Including, the budget required, and the all-important small print that worries many policyholders. If you are a smoker, if you have pre-existing medical issues or how COVID-19 is affecting new policies. All of this advice and more is available when you complete our online life insurance enquiry form.
Of course, the peace of mind that comes with a life insurance policy is worth those monthly premiums. You have the certainty of knowing that your partner and your children, can cope in a time of grief and financial uncertainty.
Different types of life insurance cover
We have a dedicated section on the Life Insurance Cover website detailing the various types of life insurance here. But as a brief overview, here are some of the most common:
Term life insurance – probably the most popular and cost-effective. Term life insurance provides coverage for a fixed amount of time, for example, the length of a mortgage. It is essential to take into consideration the expiry date, at which time the life insurance ceases. If the event of no claim made, it is important to re-think the options for the future.
When the mortgage is paid, do I still need life insurance?
The mortgage might not be a factor as it is now paid off. But expensive bills such as funeral costs can worry many people. In this respect, an over 50s life insurance policy might be an attractive option.
What if we both work to pay the bills?
If you and your partner contribute equally to the household finances, or if one partner is a stay at home parent, then a joint insurance policy is an attractive solution, as extra costs such as child care might suddenly be a consideration if one partner dies.
In the event of a claim, a joint policy ends naturally, and the surviving partner will need to think about a new life insurance policy to protect any dependants.
Joint policies work well for many couples, as it is a generally cheaper solution than two individual plans. If a couple split at any time, then the life insurance policy can continue if mutually agreed. Or may need re-establishing or the taking over of one by the other. Find out more about joint life insurance.
Whole of life insurance – The premiums fall due every month for the whole of your life, until you die (or reach maximum age depending on the type of whole of life policy.) The benefit is fixed, and this sum remains a guaranteed payout when you die (subject to terms and conditions).
Pros and cons of a whole of life insurance policy
Monthly premiums for a whole of life option are often more expensive and less attractive as general fixed term life insurance. People with large estates and a looming inheritance tax bill find whole of life insurance attractive. Important factors to take into consideration include ensuring the payout is sufficient in line with inflation, taking into account retirement and checking the small print for any exclusions. We can advise you on a range of whole of life insurance policies, the different types on offer and the benefits of this type of insurance policy.
What a life insurance policy needs to protect
Working out what you would like to protect, some households use excel or a good old fashioned pen and paper time. Review your monthly outgoings, take everything into account including every income and outgoing. Also include any saving plans, car loans, debts and of course, the crucial living expenses such as a mortgage, utilities and everyday living costs. People often forget that growing children have expensive tastes/hobbies/next new thing. A death of a parent might need a tightening of belts in times of financial difficulties. Still, with sufficient life insurance, a surviving parent can ensure the children never go without.
The specialist team at Life Insurance Cover work with only the best life insurance companies. We take the time to compare all options available. Working within your budget and lifestyle and more importantly looking after you and protecting your family. Peace of mind can start today