Applying for life insurance with Caspian

We all have those tasks we desperately want to tick off our ‘to-do list’ but life insurance should never feel like a chore. Here at Caspian, we do things differently. We are here to make life as easy as possible for you and your loved ones. With our straightforward process and award winning service, it has never been easier.

Many UK adults are not aware of the many different types of cover available to them. Life insurance is not a one size fits all policy and what may work for one person may not work for another. In a nutshell, identifying your unique financial gaps and how we can help cover them will be the main objective of your conversation with a Caspian protection specialist.

We work on an advised basis, meaning you will receive tailored advice from a fully trained financial protection specialist. Most people approach us with a precise idea of what insurance they think they need. However, our clients always come away with a fresh outlook on life insurance and the appropriate amount of cover for their needs.

For instance, if you are one of our many clients who have just gotten on the property ladder, you may come to us under the impression that you would only need a life insurance policy to protect your mortgage. However after speaking to our specialists, we may identify other gaps in your finances. Meaning you could come away with cover exceeding your expectations and a superior knowledge of your life insurance needs, all tailored to fit your budget.

Tailored advice from specialists simply cannot be replicated by comparison websites. A non-advised broker does not assess your needs or make any recommendations - they simply just provide the facts. As a fully advised brokerage, we not only listen to your wants and needs but we ensure a bespoke life insurance policy will be created for you.

Why choose Caspian?

Does your perception of life insurance equate to aimlessly scrolling through confusing comparison websites and searching endlessly for the right policy for you? At Caspian, we understand everyone is different, so of course everyone’s life insurance policy is going to be different too! We get to know all of our clients on a personal level to ensure the most customized experience possible. Once we know a bit more about you, we are able to establish any gaps you may have financially. This way we can search the market for the best possible policies and tailor them to your specific needs.

Finding the right policy can seem daunting due to the vast amount of choices out there nowadays but that is why Caspian exists. There are so many misconceptions surrounding life insurance and it can feel extremely overwhelming at times but our no-fuss approach will ensure your journey to finding the right policy is straightforward.

We offer uncomplicated, free and impartial advice on all things life insurance. We do this by searching across the market and narrowing down the options for you with the aim of getting the best policy to protect you and your loved ones. With nearly 200 years of combined experience in life insurance, it’s a no brainer!

Level term life insurance - what is it?

This is perhaps one of the most commonly chosen life insurance policies as it is one of the simplest forms of financial protection.

This type of policy would pay out a lump sum, if the policy owner (you) were to pass away within the term of the policy, which your beneficiaries (the people you wish to receive the money) would receive.

A level term life insurance policy stays fixed throughout the term of the policy, meaning that the sum assured (the amount of cover you have in place) stays the same, regardless of how many years you have it for.

Why speak to a fully advised broker?

When thinking in terms of financial protection, it is worth noting that, without tailored advice from a fully advised broker it would be extremely difficult to work out the exact type of cover you need to suit not only your individual circumstances but also your budget and lifestyle. It is a common misconception that only the amount of cover you have is important, many tend to forget that the type of policy you have is important too.

With years of industry knowledge under their belts, our protection specialists can answer any questions you may have regarding all sorts of different types of cover such as critical illness cover and income protection cover which can often be overlooked!

How are my premiums calculated?

Life insurance is all about risk, so to put it bluntly, insurance providers need to work out how much of a risk you are to them. This risk is calculated by weighing up various factors such as age, your current health, family's health history, smoker status, weight, occupation and lifestyle history.

It may seem tempting to bend the truth when applying for life insurance to lower your monthly premiums. However, doing this could invalidate a future claim and mean that your loved ones are left without any financial protection.

You pay for life insurance in monthly premiums, these premiums are calculated during your initial phone call with your protection specialist and during your consultation you and your adviser can adjust your monthly premiums to suit your budget accordingly.

Different types of policies - do I need them?

Life insurance can be complex. There are so many different types of policies, it can be hard to know where to start - that is where we come in. As a fully advised broker, we search through the market for you. We look at any financial dependents you may have or gaps in your finances then advise what we think is the best policy for you.

Millions of people in the UK are either uninsured or underinsured, so to ensure the service you receive is the best it can be, you will have your own life insurance expert assigned to you. Our financial protection specialists will ask questions regarding your financial situation, your outgoings, any debts or savings you may have and any dependents. They will then recommend policies for you based on this information.

Critical Illness insurance is a product that is often overlooked, it can be used as a standalone policy or added onto a life insurance policy as a wider form of financial protection. Many people do not realise the positive impact that having an add on such as this can provide. With more comprehensive policies such as critical illness cover, the extra benefits that some providers include are useful for you and all of the family and boast perks such as: children’s critical illness cover, wellbeing support and the ability to change your policy at any time.

Can I get life insurance if I have a medical condition?

Do not be put off applying for life insurance if you have a pre-existing medical condition as you are most likely still able to get a policy. However, it is crucial that you inform us of your full medical history during the application process.

During this process, you will be asked a series of questions in regards to your health and lifestyle, it is essential that you provide us with all of the facts, otherwise this could potentially affect a future claim. Your advisor will explain the process in depth as you go through the questions together.

Do I need to have a medical examination to get life insurance?

In short - no. You do not need to have a medical examination in order to get a life insurance policy.

With some medical conditions in particular, your insurance provider may ask to see a report from your GP but you would be advised of this during the call with your protection specialist. At Caspian we pride ourselves on our customer care, so if your provider were to request to see a report from your GP, we will help chase this up for you (we all know how difficult it can be to get through to your GP!).

If your medical background is a little more complex, your provider may require you to have a medical examination. These tests are unlikely to be invasive and the appointment should be brisk. Typically they will begin with asking a series of basic questions regarding your health. Then they would complete a set of basic tests. For example, a blood test, checking your weight measurements and testing your blood pressure.

Our process - what to expect from Caspian

Once you have spoken to one of our specialists, you will have them as a point of contact for the duration of your policy and any queries you may have they will be on hand to help you.

One of our customer care experts will contact you shortly after you have chosen your policy to ensure that you are happy with everything so far and to confirm that you have received your documents from Caspian and your provider.

We also have a team of trust professionals on hand to help you complete your trust forms, this free service is one of many additional benefits of choosing Caspian. Put simply, by placing your policy into trust, the money from your policy will get to your loved ones quickly and efficiently. Our trust team will run through the legal jargon on the forms, answering all of your questions and explaining the amazing benefits of putting your policy into trust. They can even partially complete the forms for you so that all you need to do is sign them. We ensure all of this is done for you so you can have peace of mind knowing that everything is finalized.

At Caspian Insurance, we promise to support you every step of the way throughout your life insurance journey, we offer support in every area and there is always someone on hand to help.

Popular on Caspian

Advantages of Level Term Insurance

16 Aug 2020

Find out more
What to Expect When Applying for Life Insurance

20 July 2020

Find out more
What is the Average Cost of Life Insurance

7 Jan 2021

Find out more