Life insurance for dummies

Let's be real, life insurance can feel like a world of its own. This is why we have created our ultimate guide to the basics of life insurance.

Keep reading to find out what life insurance is, the most popular types, how it works, and why it’s so necessary in the world we live in today.

Start your free life insurance quote here


What is life insurance?

Let’s get down to basics first. 



Life insurance is a policy you can take out to financially cover yourself from death. You can choose the amount of money that you’re covered for, this is called your lump sum, and if the worst were to happen to you during your policy term, your cover would pay out the pre-agreed amount to your family.



Your life insurance policy is there, not only to provide you and your loved ones with peace of mind but also to ensure your family would have the money they need to get by, after you’re gone.

There’s more than one type of life insurance policy?

In 2023, it’s not just a standard level life insurance policy you can get your hands on, there are actually a handful of life insurance policies on offer. Some of the most popular types you’re likely to see on your quest for life insurance are:

  • Mortgage protection
  • Critical illness insurance
  • Whole of life insurance
  • Over 50’s cover
  • Income protection insurance

At Caspian, we don’t just have a five minute chat and decide what cover you need. We look at your circumstances, affordability, preferences and needs to be able to find the right life insurance policy for you, and your loved ones.

Start your free life insurance quote here


How much does life insurance cost?

There is no one set price for any life insurance policy.

It’s not like going to the shop and picking something off the shelf and seeing the price on the back. With Caspian, a life insurance policy will always be tailored to your needs and circumstances, which is why the price of your cover could be different to someone else of the same age.

How is the cost of your cover calculated?

Once we have gotten to know a bit more about you and have assessed your health and lifestyle, we search through the UK’s leading life insurance providers so we can match you up with the insurer that will suit you best!

Along with the amount of cover you choose and the length of your policy, we assess multiple elements of your lifestyle to find out what your chosen insurer will charge you for your cover, such as your: 


  • Age
  • Lifestyle choices
  • Job
  • Medical history
  • Family’s medical history
  • Smoking status
  • Hobbies



If you’re not 100% sure whether you want to commit to life insurance right this second, you could try out our calculator. In just 3 simple steps, you can find out a rough estimate of how much your policy could be, why not spare 30 seconds of your day and give it a try now?

Calculate your costs

You get what you pay for 



Life insurance has evolved in years gone by.

When you take out cover now, you don’t just get financial peace of mind and a lump sum - you can access *free additional benefits when you take out a life insurance policy with the UK’s leading life insurance providers. These benefits can include:

  • Access to online 24/7 GP appointments
  • Second medical opinions
  • Free mental health support
  • Tailored fitness and nutrition plans
  • Personal nurses




How do you make sure the money from your cover goes to the right people?

Two words: trust forms!

At the end of the day, the whole reason behind sorting your life insurance is to ensure that, if the worst were to happen to you, the loved ones you leave behind would have the money they need to get by.

To ensure the money from your cover goes to the right people, completing your life insurance trust forms is essential. At Caspian, we have a dedicated team for all things trusts.

Our team will help you complete your forms, answer any questions you may have (no amount of questions is too many). We will even send off your forms to your insurer and pay for any postage if you need to make any amendments on your forms.

We’re always here for you

Even when everything is finalised with your cover, we aren’t going anywhere! Our customer care team will be on hand, throughout the duration of your policy, to help you with any queries or questions you have. We also have a dedicated claims team who will be on hand to help, if the worst happens and a claim needs to be made on your policy.

To kick start your life insurance journey, click the button below today. 

Start your life insurance journey here



*Free benefits are not contractual and may be withdrawn or changed at any time.

Key takeaways

This policy can help you pay for the essentials in life whilst you are out of action by paying up to 60% of your income every month. The cover will pay-out if you were to be diagnosed with an illness or retain an injury and were unable to do your day job as normal. These helpful bursts of money will start once your waiting period is over and can continue until you’re able and ready to get yourself back into the swing of things.