Who is relevant life insurance for?
Protecting your loved ones’ future is one of the most common motives behind taking out...
Being a parent comes with many challenges. Keeping your family’s future secure is very important, but not always easy to do.
With so many life insurance options available, from Whole Life Insurance to Income Protection, it can seem overwhelming, especially if you have children to look after and childcare costs to think about.
A Guide to Parent Life Insurance.
At The Insurance Surgery, we will take the time to understand your situation and talk you through the different types of Family Life Insurance available, whether you prefer purely life insurance or if you want to combine it with income or critical illness cover. We will recommend a life insurance policy that is best suited to you and your family’s needs.
In this guide, we will cover why life insurance is important, how we’ve become an award-winning broker and FAQs of parent life insurance.
Why life insurance is important for parents.
Life insurance for parents is an important financial tool that will pay out a lump sum in the unfortunate event of your passing. It guarantees your loved ones are financially secure and can sustain their quality of life, even in your absence.
Taking out life insurance can help to protect your children’s futures, reducing the financial strain in an already stressful time. Having life insurance in place can help to cover multiple costs, including:
- Mortgage/rent and bills
- School and university costs
- Your children’s hobbies and interests
- General funds for looking after your children, such as clothes, childcare and food.
Why choose The Insurance Surgery.
With our ‘Excellent’ rating on Trustpilot and our team of expert advisers, The Insurance Surgery can guide you through the process of life insurance. Below are some of the reasons why you should choose us.
Specialisation in Life Insurance for Parents
At The Insurance Surgery, we have dedicated our efforts to developing an in-depth understanding of the unique needs of parents and their families. Our team is well-versed in the intricacies of life insurance for mums and dads, ensuring that we provide comprehensive and tailored solutions that address your specific circumstances.
Customer-centric approach
Our priority is to put your family’s interests first. We take the time to understand your circumstances, listen to your issues and make tailored recommendations consistent with your objectives and budget. Your family’s well-being is at the heart of everything we do.
Industry expertise
With 25 years of experience in the insurance industry, our advisers possess a wealth of knowledge and expertise. We stay current on industry developments, regulations, and product offers to guarantee you get the most appropriate and competitive life insurance for parents options.
What is the estimated cost of Life Insurance for Parents?
The cost of life insurance for parents varies depending on age, health status, desired coverage level and policy type.
At The Insurance Surgery, we believe in complete transparency and will provide accurate and detailed quotes based on your specific circumstances.
Our advisers will work closely with you to discover a solution that suits your family’s demands while remaining within your budget, ensuring you get the most for your money.
Cost of parent life insurance example.
Nina is a single mother and applied for:
- Family income benefit with a Level plan type.
- Term of 21 years.
- The sum assured = £2,500 each month (£30,000 per year).
Nina is a non-smoker, employed full time and sought cover for her children’s financial protection. Nina is living with anxiety and a family history of cancer.
Nina’s Monthly premium = £10.42
Frequently Asked Questions
We answer your most frequently asked questions.
It’s common for children under the age of 18 to be named as a beneficiary of their parent’s life insurance policy. However, if the parent passes away and the child is still a minor, insurance companies will not hand them a payout directly. If this is the case, a guardian will be appointed to manage the money until the child turns 18.
Yes, it is possible to receive life insurance coverage while having a pre-existing medical condition. At The Insurance Surgery, we specialise in assisting individuals with various health conditions, ensuring they receive fair and comprehensive life insurance solutions.
The appropriate amount of coverage depends on your family’s specific circumstances, such as outstanding debts, income replacement needs, and future expenses like education costs. Our advisors will guide you through a thorough assessment to determine the optimal coverage amount that provides adequate protection for your loved ones.
Most life insurance policies have a time frame in which you can make up for a missed premium instalment without risking policy termination. However, it’s essential to maintain consistent premium payments to ensure continuous coverage. Our advisors can guide you in managing your policy effectively.
Many life insurance policies allow you to increase coverage or add additional riders as your family’s requirements change. Our advisors can assist you in modifying your policy to align with your changing circumstances, ensuring that your family’s protection remains relevant.
Price Match Promise.
As an award-winning specialist Insurance Broker for those with medical conditions or dangerous occupations, we will never be beaten on price. Our Price Match Promise means we will find you the right cover for your personal circumstances at the lowest possible price.
Protect your family’s future today.
At The Insurance Surgery, we are dedicated to giving parents like you the comfort that comes from understanding that your loved ones are financially stable, no matter what happens. Our team of specialists is ready to help you find the best life insurance for parents, depending on your requirements and situation.
Don’t wait any longer to safeguard your family’s future. Get in touch with us today to schedule a free consultation and take the first step towards securing a comprehensive life insurance policy for parents. Our advisers are standing by to answer your questions, handle your concerns, and guide you through the complexity of life insurance for dads and mums with pre-existing medical conditions.
For more information, check out our latest blogs.
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