Becoming a parent? This should be at the top of your to-do list
Once you have children, you will automatically have a little person (or little people) who are financially dependent on you and with this new exciting chapter of your life, comes a lot of responsibility.
But before you start painting your nursery and looking at prams, thinking about life insurance should definitely be on your radar. Below are some of the top life insurance policies you should be looking into if you’ve got a little one on the way.
Your to-do list
Securing your life insurance policy should be at the top of your to-do list when planning for your family’s future.
Having a life insurance policy in place, no matter what type, will give you and your loved ones reassurance and peace of mind throughout the duration of the term length. Without the back-up of a life insurance policy, your loved ones could be left struggling to pay the bills, afford mortgage payments and to maintain a lifestyle similar to one you have now.
A level life insurance policy is a financial safety net
The main advantage of having this cover in place is knowing that your loved ones would be financially looked after, if the worst happened.
With a level life insurance policy in place, if you were to pass away, then a lump sum would be paid to your loved ones. This tax-free, cash lump sum could be used to help pay towards the mortgage, for general living costs and also just to give you one less thing to worry about during a tough time.
Bought a house?
If you have a mortgage and you’re starting a family, then a mortgage protection policy could be the best type of cover for you.
Your mortgage is probably the biggest debt you’ll ever have in your life, so protecting it with a life insurance policy is kind of important. Without the right cover in place, your loved ones could be left with the financial burden of paying the remaining balance on your mortgage.
Want to know more about mortgage life insurance?
A repayment mortgage protection policy, also often known as a decreasing life insurance policy, is pretty much what it says on the tin. Decreasing term life insurance is a type of policy that pays out less as time goes on. So, if you were to pass away near the beginning of the term, your loved ones could receive more money than if you pass away nearer to the end of the policy term.
No matter what type of mortgage you have, whether it’s interest-only or repayment, we can tailor your mortgage protection policy to suit your own unique circumstances.
Critical illness cover - what can it do?
If times get tough, and you were diagnosed with a critical illness, then this cover could make a colossal difference to your lives.
Not only would the tax-free lump sum from your policy soften the blow of your diagnosis but the money from your cover is yours to do what you want with.
With Caspian, you can protect your loved ones with a critical illness policy and other types of life insurance too. We help find life insurance for families all over the UK (it’s our speciality). But if you aren’t ready to speak to one of our life insurance specialists yet, you can find out an estimate of your monthly costs using our simple calculator, in just 30 seconds. Click the button below to try it out now!
What we do
Knowing which life insurance policy to choose can be a struggle but that's why we’re here. With over 200 years of combined experience in the life insurance industry, who better to ask for help?
We look at your needs, current circumstances, affordability, and much more to be able to find you the best cover suited to your lifestyle.
Sounds too good to be true? (Well, it’s not!) Our service is always free so you won’t be charged for anything you ever need us for and our customer service is always at your disposal for the duration of your cover. Plus, if the worst case scenario happened and you needed to make a claim, we even have a dedicated claims team to help you or your loved ones navigate this difficult time. Click below to get started with your free quote today.
