After your big day is over, it may be time to start considering the crucial aspects of beginning your life together.
But given that you’re a newlywed couple, it might be challenging to know where to start with life insurance, what types of coverage are available to you, and which plans are most suited to you both?
From doorbells to wedding bells
It’s likely that you will be living together whether you recently got married or are planning to do so soon.
Your mortgage will be one of your greatest bills ever if you’re buying your first home together. Thus, it makes sense to provide it with financial security through a life insurance policy, right?
There is a life insurance policy that can assist financially secure your mortgage, regardless of whether it is an interest-only mortgage or a repayment mortgage. A mortgage protection policy can cover the entire outstanding sum on your mortgage.
Did you realise that you may safeguard your earnings?
Do both of you provide income for the family, or are you the primary provider?
In either case, if things turn hard, an income protection policy is there to aid. If an illness or injury prevented you from working as normal, this sort of life insurance policy serves as a replacement source of income. You wouldn’t have to worry about not being able to earn as usual because your income protection coverage might cover 50–70% of what you make.
A monthly cash payment from an income protection policy can ensure that your family can afford the necessities even if you are unable to continue working as usual. Here are just a few examples of what you could use the pay-outs from an income protection policy for to help you meet the necessities:
- grocery shopping
- recurring bills
- clothing for your children
- travel expenses
Nobody is knows what is coming.
The statistics are alarmingly rising, and if times get difficult, a critical illness policy may change everything.
The lump amount from your critical illness policy might ensure that you can still make ends meet if you or your partner were unable to continue working as usual due to one of the many typical critical diseases that this type of coverage can cover. A critical illness policy may provide coverage for a variety of ailments, including:
- chest pain
- cancer
- stroke
- loss of limbs
- Parkinson’s and Alzheimer’s diseases
- loss of vision
- organ failure
- multiple sclerosis
Although the list of illnesses is frightening, the sad truth is that no one can predict what will happen next. If the worst case situation occurred, having the appropriate insurance in place may guarantee that you and the people who matter to you most would be financially protected.
What we do
By looking through the top life insurance companies in the UK, we can suggest the best plan for you and your family. Please don’t delay; begin your life insurance journey right away if you haven’t already done so and are still unprotected. Get in touch for a free quote…
