5 top tips for life insurance

Life insurance can feel like a whole new world.

At Caspian, we don’t just help you figure out if you need a life insurance policy, we take the time to assess your needs, circumstances, and affordability. If you need cover, we can do the hard work for you and set you up with one of the UK's leading life insurance providers.

So whether you have a policy already or you’re still thinking about it, let’s look at our top 5 tips for life insurance.


1. Review your life insurance

Over the years, we change and we grow. Whether this is tying the knot, getting a new job, buying a home, starting a family, being diagnosed with a medical condition or even quitting smoking. But as your life is changing, it’s important to ensure your life insurance policy doesn’t get left behind and the one way to do this is by reviewing your cover.

By reviewing your life insurance every couple of years, you’ll have peace of mind knowing that your policy is up to date with your current lifestyle. So, if the worst happened, your cover would pay-out the right amount of money.

Plus, when you take out cover with Caspian, you’ll never have to get in touch with us to review your policy, we’ll get in touch every few years to make sure you’re still happy with your life insurance. So if you’re happy with your cover, that’s perfect but if there’s anything you want to update then we can help!

2. Use your benefits

These days, when you take out a policy with one of the UK’s leading life insurance providers, you don’t just get the benefit of the money. Your policy can be so much more.

When we say the UK’s leading life insurance providers, we’re talking about the big names like AIG, Legal and General, Aviva, Vitality and Scottish Widows, just to name a few. These providers offer multiple different free benefits* and rewards that you can use throughout the duration of your policy, simply just for having cover with them.

Sounds too good to be true? It’s not! These life insurance benefits range all the way from free mental health support to second medical opinions, so it’s important to ensure you’re making use of your benefits. Here are some of the other top free benefits you could be able to access with your policy, depending on your provider:

  • 24/7 access to free GP appointments (either online or by phone)
  • Discounted Apple Watch
  • Personal nurses who can support you with a range of different situations such as trauma, bereavement, long term mental and physical illness

3. Why wait?

Did you know that life insurance is cheaper, the younger you are? By waiting until later in life to get a policy, you may find yourself paying over the odds.

One easy way to ensure this doesn’t happen is by sorting out your cover when you’re younger. We aren’t suggesting that the second you turn 18 that you should sort your life insurance but getting a policy sooner rather than later could save you some serious pennies.

The reason your cover could be a lot cheaper when you’re younger is because typically, the younger you are, the less likely you are to pass away. Getting life insurance young could mean that you’ll get the same cover for a lot less if you take out your life insurance at the age of 30, instead of in your late 30’s-40’s.



4. Look at different types of policies

Life insurance is never one size fits all. Sometimes, people need something a little different than the standard level life insurance policy.

When it comes to life insurance, not everyone knows that you can get more than one type of policy. All you might need is a standard life insurance policy but other times more comprehensive types of cover could be best suited to your circumstances. Here are some of the top ‘different’ types of life insurance, you might not have come across on your search:

  • Income protection. This policy protects the money you work so hard for. If you weren’t able to work due to illness or injury, this policy could pay out 50-70% of your wage to you each month so that you’d be able to pay the bills, even though you’re off work.

  • Critical illness insurance can cover you for a list of defined critical illnesses, meaning that if you were to be diagnosed with one specified in your conditions, then you would receive a lump sum payment to help make life a little bit easier after your diagnosis.

  • Mortgage protection can cover the remaining balance on your mortgage. A decreasing life insurance policy (the type of life insurance that is typically recommended for a mortgage policy) will decrease inline with the balance of your own mortgage. This cover can ensure your loved ones would not struggle paying back your mortgage, if the worst were to suddenly happen to you 

5. Get advice

There is nothing more important than your life. So making sure it is insured correctly should be a no-brainer.

Here at Caspian, we don’t just give out random life insurance advice. We get to know you, chat about your circumstances, discuss your budget, and work out what cover would be best for you and your loved ones.

Getting tailored advice from a life insurance brokerage could make all the difference to the type of cover you end up with. Click the button below to get started with your free quote.




*Free benefits are not contractual and can be removed at any time