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Protecting Your Family For The Future

protecting your family

Providing The Best Future For Your Family

Protecting your family and taking care of those that you love is what matters most to all families. 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. By making the important steps in protecting yourself and their future, will offer peace of mind and long term reassurance. Each Life Insurance policy is created on your individual needs and circumstances. Unlike Car Insurance, Life Cover is tailored to your specifications and not a generic “one size fits all” policy type.

Using our free, no obligation Life Insurance Quote form can help you to compare Life Insurance polices. Helping you to provide for your family financially in the unfortunate event of your passing away. 

Getting A Free Life Insurance Quote

Our simple to use online Life Insurance Quote form will ensure that you are able to Compare Life Insurance policies. By using an FCA regulated broker, like Life Insurance Cover, we are able to search and find all of the best policies for you and your family. At Life Insurance Cover we search the whole Life Insurance market including many Life Insurance providers who do not offer policies directly to the public. This allows your Life Insurance Quote to be bespoke for you and your family’s needs and within your financial budget. 

The financial strain on a family when one income provider passes away can be stressful, devastating as well the emotional heartache. Enquiring about a Life Insurance policy today is an important step for the long term future. It will also help to ease some the worry about paying the mortgage, outstanding loans, household bills and general living expenses. All the many necessary financial commitments that a Life Insurance policy can provide for your family after you pass away.

No Jargon, Just Friendly Advice

Choosing to talk to our friendly specialist Life Insurance team of experts. Who can explain the intricacies of all of the Life Insurance policies available. All of our advisors will breakdown into plain English the finer points of Life Insurance protection. At Life Insurance Cover we search and find all of the many different types of Life Insurance. Including, the budget required, and the all-important small print that worries many new and existing 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 much more is available when you choose to let Life Insurance Cover help you to find Life Insurance protection.

Another point to remember alongside the ongoing financial protection is the peace of mind that comes with a Life Insurance policy. For many this can be the ongoing reassurance that the monthly premiums will help your family for the future. As a Life Insurance policyholder 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

Different Types Of Life Insurance Cover

We have a dedicated section on the Life Insurance Cover website detailing the many different types of Life Insurance products. But as a brief overview, here are some of the most common Life Insurance products:

Term Life Insurance – This policy type is 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 will cease. If the policy expires after a mortgage has been settled. It could mean that you no longer have Life Insurance protection.

The mortgage is paid, do I still need Life Insurance?

Although the financial requirements of a mortgage might not be a factor anymore. There are still many large financial hurdles which could cause problems in the future. They may include expensive bills such as funeral costs which can worry many people. In this respect, an over 50s life insurance policy might be an attractive option.

Joint Life Insurance

What If We Both Work To Pay The Bills?

If you and your partner both contribute equally to the household finances, or if one partner is a stay at home parent. Many people in this scenario find a Joint Life Insurance policy is an attractive solution. This is because any extra costs such as child care might suddenly be a consideration if one partner dies.

In the event of a claim against a Joint Life Insurance, the surviving partner may have the option to either claim for the first individual or defer to protect themselves. Many people who have chosen Joint Life Insurance policy will need to make a claim after the first individual has passed away. This will mean that the surviving partner will need to think about a new Life Insurance policy to protect any dependants for the future. 

Joint Life Insurance policies work well for many couples, as it is a generally cheaper solution than two individual policies.  If a couple split at any time, then the Life Insurance policy can continue if mutually agreed. Or a policy may need to be reviewed to ensure any family members remain protected.

Do I Need A Whole Of Life Insurance Policy?

Whole of Life Insurance – With this policy type 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 Insurance policy.) The benefit amount you have chosen is fixed, and the amount remains a guaranteed payment to your loved ones when you pass away (subject to terms and conditions).

Monthly premiums for a Whole Of Life Insurance policy are often more expensive and less attractive compared to a Term Life Insurance policy. People with large estates and a looming inheritance tax bill find Whole Of Life Insurance an attractive option. Important factors to take into consideration include ensuring the claim payment is sufficient in line with inflation. Also taking into account your retirement age and checking the small print for any exclusions. At Life Insurance Cover we can help you to compare Life Insurance including all of the Whole Of Life Insurance policies available.

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.

By utilising an FCA regulated broker, like Life Insurance Cover who compares all of the different Life Insurance providers for you. Will offer peace of mind for the future, knowing that your family and loved ones will be protected. We take the time to compare all of the many options available. Working within your budget and lifestyle and more importantly looking after you and protecting your family.

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