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Since 2006 we have helped 339,594 people compare Protection Insurance quotes.
We would love to do the same for you...

5 life events that might prompt you to look again at your current protection insurance

Adult life is - of course - fast-moving anyway, but this observation applies especially strongly at the moment, when great numbers of us are seeing rapid changes in our financial situations amid the cost-of-living crisis. And that, in turn, could have a great effect on what protection insurance products you might require at any given time.

So, what are some of the events in your own life that might most prompt you to urgently consider whether you have suitable protection cover in place? Let’s look at a few of them.

A change in employment

If you’ve recently moved from one employer to another, we would certainly urge you to make yourself aware of the benefits your new employer provides, and how the situation might differ from your last employer.

A good principle here is to look at the very maximum protection you can get from your new employer, before considering ‘topping up’ any shortfalls with personal protection cover.

Receiving an increase to your salary

With inflation being so terrifyingly high right now, you might not think that even a heightened salary would necessarily make a great difference to your requirements from protection cover, given how quickly any raise will be eaten up by spiralling costs.

However, it’s worth bearing in mind that with income protection insurance typically paying out up to 65% of your normal monthly salary or income, a bigger pay packet could enable you to also heighten the payout you would stand to enjoy from such a policy.

Getting married

Entering into a marriage or civil partnership should be one of the happiest moments of your life - the very last thing you will want to think about at such a time, is what would happen if either of you were to pass away.

But of course, these things do have to be considered, so that appropriate preparations can be made. Life insurance, for instance, suddenly heightens greatly in relevance for a lot of people who tie the knot. If this is the case for you, it will be necessary to carefully consider what level of protection your surviving partner would need in the event of your death, such as for the payment of a mortgage or other outstanding debts or living costs.

Buying a home

Given all the years for which you worked so hard in order to afford a home, once you actually have bought a property, you will naturally want to protect that investment as well as you can.

Indeed, you might have taken an interest in life insurance specifically because of a perception that you will need it if you are to secure a mortgage. Strictly speaking, there’s no legal requirement to take out a life insurance policy in order to get approved for a mortgage; however, some lenders may make you having such a policy a precondition of them lending to you, and it can provide a crucial layer of protection regardless. After all, a mortgage might well be the biggest debt you ever have.

Retirement

If you’re about to retire, you will hopefully get to enjoy your twilight years in pleasure and comfort. However, there’s also no getting away from the fact that retirement is a major event from a life-planning perspective, and you won’t want to find yourself short of the protection and support you will require for years to come.

One of the most important things for you to do as your retirement looms, will be to pore over the protections and benefits you currently enjoy with your employer, while considering what you will and won’t likely need during your retirement years. Would you still be able to pay your way in life in the event of future disability or disease? If this is a concern for you, a product like critical illness cover might be of particular relevance to your long-term needs.

As you can see from the above, there are a lot of things that can happen in life that can also impact on the nature and extent of the protection cover you will need.

Nor is the above an exhaustive rundown of everything you might need to know about this subject. So, if you would like to discuss your situation in greater detail with us, please don’t hesitate to call our free no-obligation advice and quotation line here at QuoteLifeCover.com, on 0800 316 6917.

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Get Insured within 20 Minutes

It is possible to be protected with a life insurance or critical illness policy within 20 minutes provided the insurer does not require a GP report or medical.

A GP report or medical is normally required for large amounts of cover (over £400,000), or if your BMI is over 30, or you have any significant ongoing or past medical issues, or if you are involved in dangerous job or high risk hobby.

Calculate Your Cover

Find out how much cover you might need by using our simple online calculator. It will take into account your outstanding mortgage, any loans or credit cards, your monthly income and how many children you have.

Ultimately the right amount of cover is often a balance between what might be an ideal figure and what you can sensibly afford.

Calculate your cover here

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

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No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.

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I found the customer service representative very polite and informative and helpful.

I wished some information on life insurance for a mortgage I have applied for.

All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.

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I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.

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I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.

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Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.

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The quotation service is provided by an FCA-authorised insurance specialist

Promoted Premiums for 35 year old male (non-smoker) on a 25 year term - September 2022*
Life Insurance: £5/month = £65,371 sum insured
Critical Illness Cover: £10/month = £27,546 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,230 sum insured

 

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