Would your family cope financially if you passed away? It's not something that any of us like to think about; but childcare, mortgage repayments and bills could make a difficult time even worse for your loved ones.
Life insurance and critical illness cover can be used to protect your dependants if you or your partner die or become seriously ill. Your family will be able to pay off debts and mortgages, cover funeral costs and most importantly, plan for the future without any financial concerns.
At Compare Cover we make it easy to compare quotes from leading UK insurance providers. The various types of life insurance are our speciality and our objective is to give you the tools to make an informed decision.
Life insurance cover comes in a number of forms and it's important to choose the right policy to suit your specific needs and circumstances. When we compare life insurance quotes, the types can cover either single or joint lives (with joint life policies only paying out for the first claim) and include the following options:
Perhaps the simplest type of policy; level term cover pays out an agreed amount if you die within the term of the policy which you choose. You can find out more by visiting our Level Term Life Insurance page or Get Quotes.
Also known as decreasing term cover, with this type of policy the amount of cover reduces, usually in line with a standard repayment mortgage. If you die within the term of the policy, the pay-out is designed to cover the outstanding balance of your mortgage, allowing your family to stay in the property without having to worry about how they'll cover the mortgage repayments. You can find out more on our Mortgage Protection Life Insurance or Get Quotes.
If you became seriously ill and couldn't work, would your family be able to cope financially? It's not a nice thing to think about, but if the answer is no, critical illness cover is another important type of insurance to consider. The policy would pay out in the event of you (or, in the case of a joint policy, your partner) being diagnosed with a specified critical illness within a policy term, helping your family to cope at a difficult time. You can find out more on our What is Critical Illness Cover page.
The stage in your life and the responsibilities you have, rather than your age, should be at the forefront of your mind when thinking about whether life insurance is right for you.
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