Income Protection Insurance: Why Everyone Should Consider It

Income Protection Insurance is essential if you work. Learn more in this article as to why everyone needs to consider it.

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Why Should Everybody Consider Income Protection Insurance?

In the unfortunate event that you fall ill or are diagnosed with a disability that prevents you from working, for many, the devastating financial impact means an increased level of stress for them and their families.

Income Protection Insurance, or, Permanent Health Insurance, will pay you a regular income in the event of serious illness or disability. These regular payments will continue until you are fit enough to return to work or when you hit retirement age, whichever happens first.

You must wait at least four weeks before you can access Income Protection Insurance payments, however, in the meantime, you can take advantage of statutory sick payments from your employer.

It is important to note that Income Protection Insurance does not cover your full income. Instead, you can expect to be paid one half or up to two thirds of your full monthly wage.

The Importance of Income Protection Insurance

When you reach working age, Income Protection Insurance becomes a necessity in the event of illness or disability. Sadly, this is something that nobody can predict, therefore, investing in an Income Protection Insurance policy can only be advantageous to the insurance holders.

Due to the unpredictability of our health, without the correct insurance protection, it is unlikely that you would be able to survive financially through your illness solely relying on your Statutory Sick Pay or personal savings. With bills such as credit cards or mortgage in mind, your funds will need to be regular and guaranteed to avoid falling into debt- something that will only further add to the stress of being off work sick for a long period of time.

As well as this, Income Protection Insurance is one of the few policies to provide cover to those who unfortunately begin to suffer with a mental illness. One of the main benefits of Income Protection Insurance is that it conveniently covers most types of illness and disability; ensuring optimum peace of mind for insurance holders who choose to take out this type of policy.

Types of Income Protection Insurance

Instead of being one product, Insurance Protection Insurance is in fact a group of insurance products available on the market to those who suffer a dramatic loss of income as a result of sickness and disability.

The main types of Income Protection Insurance are:

Accident & Sickness Cover : Accident and Sickness Cover offers protection should you have to leave your employment due to accidental injury or sickness. In most cases, this can be on a long-term or a short-term basis; completely dependent on your personal circumstances at the time of injury or ill health.

Accident, Sickness, and Unemployment Cover (ASU) : ASU offers protection in the event of a long/short-term illness, a serious accident, involuntary unemployment, or redundancy. This type of policy is particularly popular due to its diverse cover.

Payment Protection Insurance (PPI) : Having to step back from work can have a detrimental effect on your ability to pay essential bills such as your mortgage or credit card. Payment Protection Insurance (PPI) is designed to cover one specific debt or bill and ensure it is paid up to date should you fall ill and have to leave work. In most cases, PPI will cover your chosen debt for up to 18 months, depending on your insurance provider.

Mortgage Payment Protection Insurance : More specifically designed to cover Mortgage payments, Mortgage Payment Protection Insurance offers a secure safety next to mortgage holders at risk of falling into debt due to loss of earnings and late mortgage repayments- often as a result of losing their job through ill health. MPPI can cover your repayments for up to two years, depending on your particular policy.

Income Protection Insurance for Doctors & Surgeons

By being a doctor or a surgeon, it is likely that you fully understand how unexpected illness can be. No matter your profession, illness and accident can creep up on anybody at any time.

Going from a full salary to NHS sick pay can have devastating consequences on the financial wellbeing of medical professionals, therefore, Income Protection Insurance for Doctors is often considered essential to financial security and peace of mind.

Until you reach five full years of service within the National Health Service, you will not be eligible to your full six months’ worth of Statutory Sick Pay. This makes it even more essential for doctors with under five years of service to buy Income Protection Insurance.

Income Protection Insurance for Contractors & Self-Employed Individuals

Sadly, as a contractor or Self-employed worker, you do not benefit from financial security in the form of sick pay and other employment benefits, therefore, it is vital that contractors consider their circumstances in the event of unexpected illness, disability or injury. One way of doing this is by taking out an Income Protection Insurance policy.

Life continues regardless of whether we are working or not. Bills must continue to be paid, children supported, and weekly food shops brought. No matter what needs to be paid, a regular income must be maintained.

Taking out the correct Income Protection Insurance Policy can offer a financial safety net to you and your family should any unfortunate events with your health occur.

How Much Does Income Protection Insurance Cost

Ultimately, the price you pay will be calculated depending on your personal circumstances and health status at the time of taking out a policy. In some cases, insurance agencies will calculate the cost based on the risk factor of your job. The risk categories are as follows:

Class 1: Administrative staff, managers, secretary, or any other office-based work with minimal milage.

Class 2: Skilled workers, shop keepers, manual labour workers, and those with high business milage.

Class 3: Care workers, plumbers, teachers, or any other semi-skilled workers

Class 4: Heavy manual workers, mechanics, construction workers etc.

Essentially, the higher the risk of your occupation, the more you will have to pay due to higher premium rates.

How Much Will Income Protection Insurance Pay Out?

Typically, insurers will pay a percentage of your yearly earnings between 50 and 70 percent, however, this may be based on the specific insurance company you are seeking a quite from.

For example, if you earn an annual salary of £30,000, you will receive up to 70% of this is monthly instalments as you would with your monthly wages.

Can You Have Income Protection Insurance Without Life Insurance?

It is possible to buy Income Protection Insurance without having to buy Life Insurance too.

You can add a new Income Protection Insurance policy to your current Life Insurance policy with your existing insurance company if you wish. By doing this, you are paying for two separate types of cover- one being a pay out when you pass away, and the other being monthly payments if you have to cease working due to ill health or injury.

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Daddy Insurance can help you compare all types income protection insurance. We take care of all the jargon so you don’t have to. Daddy Insurance aims to protect dads all across the UK from the unexpected, get covered today to protect yourself & your family.

Guaranteed Life Insurance

Guaranteed Life Insurance refers to the fact that provided you maintain your monthly premium payments, you are certain to be accepted for the policy.

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Guaranteed Life Insurance is a life insurance policy route designed specifically for individuals over the age of 50. The term “guaranteed” refers to the fact that provided you maintain your monthly premium payments, you are certain to be accepted for the policy. 

If you are a dad over the age of 50 looking for a life insurance policy with guaranteed acceptance, then a Guaranteed Life Insurance policy from Daddy Insurance could be the ideal option to offer financial protection to you and your family.

A Guaranteed Life Insurance policy is something many people will turn to in their later years due to its ease of application and high acceptance rate. For many, Guaranteed Life Insurance is the perfect safety net to provide their families with financial security and to contribute towards funeral costs.

How does a Guaranteed Life Insurance policy work?

Unlike other life insurance policies, Guaranteed Life Insurance does not require policy holders to disclose their medical history, something which can often result in your claim being declined. The main commitment is simply ensuring that you are keeping up to date with your payments. In the event that you adhere to this, your nominated beneficiary will receive a lump sum payment once you pass away.

Guaranteed Life Insurance comes with a cooling off period, where in some cases you can receive back what you paid into the policy if you decide it isn’t right for you during this period. However, this is not always the case. Some insurance agencies will not offer any form of refund from the date your new policy is effective.

It is important to compare quotes and polices before going ahead to purchase a policy. Here at Daddy Insurance we pride ourselves on tailored, cost-effective polices suited to an individual instead of the masses. We believe we have a policy for every dad, no matter their personal circumstances.

What Are The Advantages & Disadvantages of Guaranteed Life Insurance

How is the Cost of a Guaranteed Life Insurance Policy Calculated?

There are multiple factors that contribute to the cost of your personalised Guaranteed Life Insurance policy. These factors include:

Your Lifestyle : Your current lifestyle may contribute to the cost of your policy. You may be asked whether you smoke; a factor that could determine that you are at a higher risk of premature death.

Your Age : Ultimately, your age will determine the height of the premium you pay. Generally, the older you are, the higher your premium rate. If you submit an application for Guaranteed Life Insurance as early on as possible, your premium rate will remain locked for the rest of your life- as long as you keep up with your monthly payment scheme.

Your Insurance Provider : It is always advised that you shop around for the best policy. Some insurance providers will offer better deals than others.

The Lump Sum You Require : The amount you determine your family will need once you pass away will affect your premium rate. The higher the amount required, the higher the premium rate.

Can You Put Guaranteed Life Insurance Into a Trust?

In short, yes you can put Guaranteed Life Insurance into a trust. Writing your life insurance policy into a trust offers greater control over how your loved ones receive money from you. Your trustees will become responsible for ensuring that your beneficiaries receive their pay out from your policy in the event of your death. You can specify the date that your beneficiaries receive their pay out when you write your policy into your trust.

Writing your Guaranteed Life Insurance policy into your trust could mean that your loved ones receive a pay out quicker than they would if your policy was not in a trust. This element of control means that you have more peace of mind surrounding the financially stability of your family when you are no longer here.

Is Guaranteed Life Insurance Right For Me?

Different life insurance policies will suit different people better based on their circumstances. Whether you should purchase a Guaranteed Life Insurance policy from Daddy Insurance depends the type of policy you require, for example, the amount you can afford to pay into a policy, or what you need the specific policy for.

You should note that Guaranteed Life Insurance policies are typically designed to assist with funeral costs or other cost-based factors for you loved ones once you pass away. In most cases, Guaranteed Life Insurance polices can pay up to £18,000 towards your funeral costs, or alternatively, just to offer your family some financial security.

Furthermore, it is essential to consider the fact that you may end up paying more into the policy than your loved ones will receive in their lump sum payment- this is due to inflation and other costs.

Why Use Daddy Insurance

Here at Daddy Insurance we are dedicated to helping dads find the best life insurance deal on the market.

Our cheap and free life insurance quotes are specifically tailored to you and your personal circumstances. Whether it be your health and lifestyle, or your budget, we get to know you to better understand what policy you are best suited to. After all, your policy should be straight forward and stress free! We will discuss your current financial situation to ensure that the policy you purchase is affordable.

To compare polices and find your ideal one, come and speak to our life insurance experts today for further guidance on how you can protect your family financially once you sadly pass away.

Is Income Protection Worth It?

Putting life insurance in trust allows you to avoid inheritance tax & control who benefits from your pay out. Daddy Insurance helps you do it for free.

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Find out what putting life insurance in trust means and why it could be the best option for you.

It’s not exactly a pleasant activity to consider one’s demise. Yet it is essential. Especially  for dads. You’ve come to the right site if you’re thinking about putting your life insurance in trust or even just curious about what that entails.

We’ll go over all the benefits of placing a life insurance policy in trust in this tutorial, and we’ll also explain how Daddy Insurance can assist you in doing so for nothing. Learn more by reading on.

What does putting life insurance in trust actually mean?

Placing life insurance in trust essentially means giving a trustworthy individual or group of individuals control of your assets, including your life insurance policy and any other financial assets like real estate, land, etc. They are referred to as “trustees.” They will manage all assets, including your life insurance policy, as a result of this legal arrangement. They are in charge of making sure that the proceeds of your insurance policy are distributed to your surviving family members at the proper time and in accordance with your intentions.

You must select a trustee before placing life insurance in trust. This trustee can be a relative, close friend, or even a lawyer. If your trustee is 18 years of age or older, they may also be a beneficiary. This means that as long as they are of sound mind, you can identify your spouse or life partner as a named trustee.

If you put your life insurance in trust, you are relying on someone else to distribute your money and the lump sum pay out in accordance with your final desires.

How does putting life insurance in trust work?

Simply put, placing your life insurance in trust transfers legal ownership of your policy to the designated trustee.

The trust document (the deed) must be kept secure by your trustee. When they arrive to collect the payout from your life insurance policy after your passing, this will be crucial. This deed details all the conditions you established when you placed your life insurance policy in trust, ensuring that the payoff is utilised exactly as you planned.

It is also important to note that after life insurance has been transferred into trust, there is typically no way to change your mind. This implies that you won’t be able to remove the life insurance policy from the trust once you’ve elected to put it in a trust and the deed has been created. Also, you typically won’t be able to change the recipients later on. Although, depending on the kind of trust, which we’ll discuss in more detail later. As a result, before putting your life insurance in trust, you should be 100% convinced that you want to.

Benefits of putting life insurance in trust

Avoiding inheritance tax is the main advantage of putting your life insurance into a trust. A tax of up to 40% on your estate’s entire worth is known as inheritance tax (so the total of your life insurance payout and all financial assets). This implies that the payoff to your beneficiaries will be much less than you might anticipate.

This taxes is reduced when you place your life insurance in a trust.

A trust gives you additional control over what will happen in the case of your passing. You can specify who receives the proceeds of your life insurance policy and other financial assets, and you get to decide who you want to act as your trustee and carry out your instructions.

The ease with which your beneficiaries would be able to obtain the life insurance payout is another advantage of placing your policy in trust. The process of splitting your assets through probate can really take months to complete. Your loved ones won’t have to wait for your life insurance to pay out during the probate procedure if you place it in trust. Your trustee only needs to provide your death certificate as an alternative.

However, it’s worth also noting that they may have to apply for probate for any other financial assets in the estate.

Should you put your life insurance in trust?

Given the benefits outlined above, putting your life insurance in trust is a good call for everyone. Being able to avoid inheritance tax altogether is a perk that’s hard to pass up. Then when you factor in the speed at which your beneficiaries will be able to access your life insurance pay out over the lengthy probate process, putting life insurance in trust seems ideal. Plus, you’ll have control over who benefits from your life insurance pay out and who you trust to deliver your wishes. There isn’t really a downside.

Why let Daddy Insurance help with putting your life insurance in trust.

At Daddy Insurance, we deliver quotes from all the top UK insurers. We’ll help you conduct a full comparison of life insurance options and our experts are always on hand to help guide dads through the entire process. All of our quotes are also 100% personalised.

What’s more, at Daddy Insurance putting your life insurance in trust is completely free. We can help you put your life insurance in trust without having to pay those pesky legal fees. Win-win.

Is Income Protection Worth It?

Daddy Insurance allows you to compare free quotes for critical illness cover & life insurance from the UK’s top insurers. Protect yourself & your family today.

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Knowing the signs and symptoms of prostate cancer, which is the most prevalent cancer in men in the UK, might actually save a life.

Let’s examine what a prostate is, what symptoms you should watch out for, and your potential risk.

What is a prostate?

Men’s prostates are glands that are situated next to the bladder. The sperm-nourishing and sperm-transporting fluid produced by this little but formidable gland is crucial to the reproductive system.

The prostate can expand in men as they age, which can result in benign prostatic hyperplasia (BPH), a condition that can produce painful symptoms related to the urinary system.

What is prostate cancer and is it different from BPH?

Benign prostatic hyperplasia (BPH) and prostate cancer are two completely different conditions. Having BPH does not raise your risk of developing prostate cancer because benign means “not cancer” and hyperplasia means “abnormal cell growth.”

Although BPH and prostate cancer have some symptoms, these two diseases are fundamentally different from one another. If detected at an early stage, prostate cancer can be fatal, with survival rates substantially decreasing from stage 1 to stage 4.

Almost all men with prostate cancer who are identified at stage 1 will live for five years or longer, according to Cancer Research UK. Yet, the difference in survival can be astounding when the disease is discovered at stage 4 (indicating that it has spread to other body areas). At this point, only 50% of people survive for five years or more.

Know Your Risk

Understanding your risk is crucial because the frightening thing about prostate cancer is that it almost never causes any symptoms.

In order to learn more about your risk of developing prostate cancer, visit the Prostate Cancer UK website and respond to 3 short questions.

All you have to do is enter your age, ethnicity, and whether your father or brother has had prostate cancer (the risk is higher for black men). This useful little tool can then provide you a quick assessment of your risk for prostate cancer in a matter of seconds.

What to look out for

Prostate cancer symptoms can occasionally be found during routine doctor visits, but most of the time, your body won’t exhibit many of them. Yet, some men may experience changes in their urination and sex that could be signs of prostate cancer.

Although not everyone has symptoms, it can often be challenging to identify prostate cancer early. Yet some of the warning indicators to watch out for are as follows:

How your life insurance policy could help

Your life insurance coverage can provide so much more than simply financial security.

Many of the best insurers in the UK now include free extra benefits* in your coverage. These additions in your coverage could occasionally mean the difference between an early diagnosis and a second medical opinion. And we’re not just talking about any old benefits either.

What sort of benefits can you get included with your cover?

The benefits you can receive with your life insurance policy might vary greatly depending on the insurer you choose, from access to free 24/7 online Physician appointments to free mental health care.

Depending on the insurer you’re with, the following are some of the top perks you could be able to get with your coverage:

You can use Royal London’s Thrive, TrackActiveMe, and HealthHero services if you have an insurance with them. They include free mental health assistance, 24/7 access to free Physician consultations, interactive chat for muscle, joint, and spine pain, and special programmes to help you get back on track.

Customers of Aviva get access to advantages such an annual health check, dietary support, mental health support, bereavement support, and second medical opinions with Digicare+ (just to name a few)

Vitality can get on the optimiser plan which gives them a discount on their policy up to 30% for simply downloading the app and staying healthy, e.g. tracking steps. Vitality also offers many benefits such as free coffees from Café Nero, discounts on sportswear and many more.

If you have an insurance with Scottish Widows, their private nurses can provide assistance in the following circumstances: trauma, bereavement, long-term physical and mental disease, and disability.

How to check for prostate cancer at home?

Unlike to other cancers, such as testicular cancer, there is no simple technique to examine oneself at home.

PSA testing is the only surefire technique to determine if you have prostate cancer. If your PSA level is really high and your doctor suspects that you have prostate cancer, they may advise undergoing additional lab tests (blood, urine, or prostate biopsy samples) to assist determine if you actually have prostate cancer or not.

Have you heard of critical illness cover?

If you were diagnosed with a critical illness as specified in your terms and conditions, critical illness cover, a sort of life insurance, may financially protect you.

If you were to be diagnosed with one of these conditions, your insurance might provide a tax-free cash lump amount to make sure that, in the worst case scenario, your loved ones wouldn’t face financial hardship.

Last but not least, having a critical illness policy in place may provide peace of mind for you and your loved ones (after all, that is one of the primary advantages of having a policy in place).

What can a critical illness policy help pay for?


The pay out from your policy might assist you in paying for necessities and supporting your loved ones if you were unfortunate enough to need to make a claim on your critical sickness insurance. This is because you might not be able to work normally.

Yet, you can also utilise the money to create enduring memories with your loved ones. The pay out from your critical illness insurance could be used to pay for a once-in-a-lifetime vacation with your family. The money would ultimately be yours to use anyway you please. The following are some of the best uses for your critical illness coverage pay out:

Get Critical Illness Cover & Life Insurance with Daddy Insurance

Daddy Insurance allows you to compare free quotes for critical illness cover & life insurance from the UK’s top insurers. Our friendly team will advise you through the whole process so you will have support and guidance on what is best for you. Protect yourself & your family today.

Life Insurance vs Mortgage Life Insurance

Both life insurance and mortgage life insurance are intended to provide a cash pay out in the event that you pass away within the term of the policy. Your loved ones can utilise any type of insurance to aid in mortgage repayment.

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Because they were designed with different degrees of protection in mind, life insurance and mortgage life insurance differ primarily in this way. Some people want a policy that, if they die away during the policy’s term, will financially support their family in a number of ways, including paying for household bills and educational costs. Others could need insurance that would only help their family keep their mortgage protected in the worst-case scenario.

Because every person’s situation is different, you should carefully consider all of your options. This is a description of the policies we offer and the things they are meant to help you safeguard.

If you pass away while the policy is in force, life insurance, also referred to as level term life insurance, might give you a cash payout. It could be used to maintain your family’s standard of life or to help pay for an interest-only mortgage. The rates and level of coverage you choose stay the same up until you make changes to your policy.

A repayment mortgage is protected by decreasing term life insurance, also referred to as “decreasing mortgage life insurance.” As a result, the coverage amount decreases generally in line with the mortgage’s payments value.

Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.

How does life insurance for a mortgage pay out?

One significant difference between life insurance and mortgage life insurance is how the level of coverage operates during the lifetime of the policy.

Your level of protection is assured to remain the same if you carry life insurance throughout the course of any valid claims that might be made.

In contrast, the potential pay out from mortgage life insurance to cover a repayment mortgage reduces over time. If the original cover amount was the same, a legitimate claim from a mortgage protection policy could result in a pay out, but it would probably be less than it would be for a level term policy.

Pros & Cons of mortgage life insurance

It’s not necessary for everyone to buy mortgage life insurance. Although normal life insurance isn’t exclusively for homeowners, you might want to consider buying one if you rent or have an interest-only mortgage. However, some people would like a life insurance policy so they can cover these costs and have the security of knowing exactly how much a pay out would provide if they had additional expenses (such as paying for a child’s school or their hobbies).

Yet, there are several benefits to purchasing life insurance for mortgage protection:

Is mortgage life insurance cheaper than level term life insurance?

Indeed, mortgage life insurance is frequently less expensive than life insurance. This is so that the potential pay out is less than fixed life insurance because the quantity of cover reduces with time. Yet, a number of factors, such as your age, general health, smoking status, and alcohol usage, impact life insurance premiums and whether you are eligible for a coverage at all.

Which life insurance policy is right for me?

When deciding what kind of life insurance policy you might require, take into account who and what you are seeking to protect. If you have children or need to protect more than just your mortgage, a level cover life insurance policy may give you the depth of protection you require. Yet, if you have a repayment mortgage and want to keep your monthly expenses low, a “decreasing” life insurance policy for mortgage protection can be an affordable and tempting option.

Every household has different needs, but as a general rule, you might want to consider purchasing life insurance of some kind if your partner, kids, or other family members depend on your income.

Can you claim benefits if you have income protection insurance?

In short, yes. Having income protection insurance doesn’t affect your right to claim SSP. Statutory Sick Pay can be claimed alongside your income protection insurance policy and helps to give you a little more financial stability while you ready yourself to return to work.

Are there other life insurance options?

Yes. While we’ve been comparing the differences between life insurance and mortgage life insurance, there are other policies that can protect you and your loved ones:

You should speak to our experts here at Daddy Insurance who will help you determine the best policy for your needs.

Regardless of what type of policy you chose, taking out a life insurance policy can help provide financial security to your loved ones should the worst happen.

Critical Illness Cover

Simply stated, critical illness insurance pays out a set amount if you are discovered to have one of the serious conditions it covers. The majority of critical illness insurance policies often cover critical illnesses like cancer, heart attacks, and stroke.

As many critical illness policies are bundled with life insurance, you can choose the level of protection you want and the length of the policy, though you can also get critical illness insurance on its own.

Being worrying about money during a life-threatening medical emergency is the absolute last thing you want. But getting sick can be expensive. You could need to pay for particular medical expenses or lifestyle changes, and if you are unable to work, it could have a detrimental effect on your family’s financial situation. Here, critical sickness coverage comes into action and offers assistance when you most need it.

Income Protection Insurance

Income protection insurance should be considered if you work a job where you run the danger of losing a portion of their income for reasons beyond your control. This will provide you peace of mind about your income.

Loss of income might be concerning, particularly if you have several ongoing expenses. Income protection insurance is available to support you financially until your problem is rectified if you experience a loss of income because of illness or injury. It can help you with bills, rent or mortgage payments, and other expenses.

Compare Life Insurance, Critical Illness Cover & Income Protection with Daddy Insurance

Daddy Insurance can offer prices from the UK’s top insurers for life insurance, critical illness cover, income protection & more. Our team of experts can support and guide you through the process with our advised service to help get you the right policy that suits your needs the most.

Is Income Protection Worth It?

If you’re wondering which type of life insurance is best for you, let Daddy Insurance show you the various options to make your decision easier & more informed.

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Find out which type of life insurance is right for you.

The type of life insurance that’s best for you depends entirely on your personal situation and specific needs. Whether you’re the household breadwinner or a stay-at-home parent, there’s a life insurance policy for you.

From life insurance policies for restrictive budgets to critical illness and income protection insurance, this guide aims to take you through everything you need to know to make an informed decision. Scroll on to learn which option is the best fit for your needs.

How does life insurance work?

Generally, life insurance policies will pay out a lump sum in the event of your death. This is awarded to your survivors and helps to support them financially while they’re grieving. It also helps to cover the cost of any outstanding debts that you leave behind.

Life insurance pay-outs are a safety net, especially in traumatising and unforeseen situations. They help with day to day living costs such as mortgage repayments and household expenses in general. Plus, they can leave an inheritance behind for your loved ones.

Life insurance is a very important investment. Which is why choosing the right policy for your needs is essential. There are many different life insurance options to choose from and the right fit for you will depend entirely on your personal circumstances.

Let’s take a closer look at some of the factors that you need to think about before making your decision.

What should I think about before choosing my life insurance policy?

When deciding which life insurance type is best for you, it’s important to consider the below first:

Joint Life Insurance

For couples, especially ones with children, a joint life insurance policy is a great option. This type of policy awards a mutual financial stake to both participants. If one of you were to die during the agreed period of cover, a lump sum is paid out and the policy expires.

It’s also worth mentioning that this means the surviving person is no longer covered by the policy. This life insurance option is ideal for couples who will only need a single payout. It is also generally much more affordable as opposed to paying two individual life insurance premiums.

Decreasing Term Life Insurance

If you’re responsible for mortgage repayments, decreasing term life cover is a viable option. This type of life insurance policy generally has one of the lowest premiums too, so it’s great for tighter budgets. Decreasing-term life insurance ensures that any outstanding debts are covered in the event of your death providing the policy is still active.

Decreasing-term basically means that the amount paid out reduces as the outstanding balance of your financial commitments decreases. The main benefit of this type of policy is that your mortgage (and any other financial obligations) is not left to your survivors.

Level Term Life Insurance

Level term life insurance policies pay out a fixed lump sum that remains the same throughout the duration of the policy. This provides a security blanket for people from all walks of life. So, whatever your current status, this is a great option to think about.

Level-term life insurance guarantees your beneficiaries will receive a specific sum should you die while the policy is active. This sum is agreed by yourself and your insurance provider at the time the policy is taken out.

Increasing Term Life Insurance

Increasing-term life insurance offers a lump sum payout that increases each and every year by a fixed amount. The yearly increases continue for the duration of the policy.

This type of life insurance generally is best for anyone wanting to protect their policy’s value. It helps your policy maintain its worth even as the cost of living rises.

Whole of Life Insurance

Whole-of-life insurance policies provide the policy holder with life-long cover. It guarantees that your beneficiaries receive a payout when you die, whenever that may be.

This type of life insurance is best for anyone looking to leave loved ones an inheritance. But, one thing to be aware of with this type of policy is that if you purchase a whole-of-life insurance policy when you’re still young, you could actually end up paying more into the life insurance policy than it will inevitably pay out.

It’s also important to highlight that this type of insurance comes with the priciest premium.

Critical Illness Cover

Critical illness cover is very different to life insurance in when it pays out.

Firstly, it generally pays out a lump sum upon a viable claim while the policyholder is still alive. The policy then ends.

This can be vital as it usually covers the cost of living. Things like mortgage repayments, utility bills and even food shops should be taken care of with your critical illness policy.

Critical illness cover is often offered alongside life insurance as an add-on. It’s best for anyone whose income is detrimental to their family’s financial obligations.

Income Protection Insurance

Income protection is generally paid out on a monthly basis. Typically, the amount you’ll receive is around 70-75% of your income for the duration you’re unable to work. Income protection insurance offers you financial stability so that you can focus on getting your health back to its normal levels.

With accidents, injuries and debilitating illnesses always a possibility, income protection insurance provides peace of mind. It allows you to spend more time living and less time worrying about what’s round the corner.

Income protection insurance is also often offered as an add on to an existing life insurance policy and it’s best for anyone whose household is reliant on their income.

Income protection insurance provides a security blanket in many scenarios. But, is it worth the investment for you? Simply put, everyone is different and your individual circumstances will dictate whether income protection insurance is essential for you.

What factors affect the price of a life insurance policy?

The cost of your life insurance premium is dictated by your personal circumstances along with the level of cover required. There are a number of factors that will impact the price of your life insurance policy. These include:

Other things that will impact the cost of your life insurance policy include the length of the policy and the level of cover. The longer you want a policy to last will ultimately impact the price. As will the level of cover you require. Think about how much you want and need the policy to pay out.

Why Secure Life Insurance with Daddy Insurance

At Daddy Insurance, we offer free quotes from our panel of insurers. We’ll also help you to conduct a full comparison between the best life insurance options to suit your needs. All of our quotes are completely personalised. Plus, our experts are always on hand to help guide you through the entire purchasing process.

What Is The Best Age To Get Life Insurance

Wondering which type of life insurance is best based on your age, let Daddy Insurance explain your options to help make your decision easier & more informed.

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Whatever your age, we’ll take you through the best life insurance policies to consider.

There is no right or wrong time to take out a life insurance policy. As soon as you have financial obligations or dependents, it’s time to secure a policy that’s right for you. That can mean fitting in with your budget; providing a financial safety net for your family; or simply ensuring your financial obligations are covered whatever the outcome.

With that in mind, there is no best age to take out life insurance. It really does just come down to your personal circumstances.

Whatever your age, if you’re considering taking out life insurance we’re here to offer a helping hand. We’ll take you through the best options for different age groups and what to think about before taking the plunge. Read on to learn more.

Life insurance in your 20s and 30s

Securing a life insurance policy in your 20s and 30s is essential for many. Typically this is the age where many of life’s milestones are achieved. Becoming a parent, getting your foot on the property ladder and reaching your career goals are all great reasons to start thinking about life insurance.

If you’re in your 20s and 30s and haven’t yet invested in a life insurance policy, we’d advise you to seize the day. Protect your financial assets and your loved ones from the get-go. The main benefit to securing life insurance while you’re still young is getting to lock in a lower monthly premium.

Generally, you’re at your best in terms of health during your 20s and 30s. And as such, it’s quite possibly the best age to get life insurance.

Life insurance for people ages 30-50

Life insurance is designed to protect your loved ones financially. It also covers any outstanding debts (such as a mortgage) if you pass away unexpectedly. Life insurance is a great investment for those with financial obligations and dependents. So, if you’re aged 30-50 and are considering taking out life insurance for the first time – why wait?

Whatever has prevented you from purchasing life insurance in the past, we can help you choose a policy that meets your needs and expectations. We can also ensure you get personalised quotes based on your budget too.

Life insurance for people over 50

An over 50s life insurance policy is a good idea for anyone that wants to leave their loved ones an inheritance and ensure their burial costs are covered. If you’re in poor health, an over 50s policy could be ideal. This type of life insurance policy generally involves no medical-based questions. This means that you’re likely to pay less into the policy than your survivors will get out at the end.

Life insurance when you buy a home

Upon being approved for a mortgage, many providers observe taking out life insurance as a mandatory part of the agreement. This will cover the costs of your mortgage repayment even in the event of your death.

Anyone buying a home should consider the different types of life insurance available, whatever their age. Budget can also come into play especially for those purchasing their first home.

Decreasing term life insurance is often the most affordable option. This is due to the amount it pays out in the event you die decreasing in line with you paying off your financial commitments.

Life insurance when you have children

Becoming a parent is a massive responsibility and one of the main reasons to consider investing in life insurance.

Life insurance pay-outs are the perfect way to secure your family financially. When it comes to covering the cost of mortgage repayments and household expenses in general they can be critical for most parents. But not only that, life insurance can also cover childcare costs and all those unavoidable expenses that come hand-in-hand with raising a little one.

Whether you’re the breadwinner, a stay-at-home parent, or a single parent, there’s a life insurance policy tailored to your needs. Any insurance pay-out will help to minimise the disruption of your child’s life as much as possible.

It’s also important to highlight that life insurance is just as crucial an investment for stay-at-home parents. Consider the everyday chores a stay-at-home parent is responsible for on a daily basis. From childcare in general to school runs and laundry, there’s a lot of unpaid labour. If a stay-at-home parent were to die, who would shoulder that unpaid labour?

Life insurance pay-outs help with reduced incomes or additional costs in line with a significant change to childcare demands.

Which life insurance policy is right based on ages?

Any one in their 20s or 30s would find a term life insurance policy the most affordable. You can agree the duration of the term and how much you’d like it to pay out in the event of your death. But, bear in mind that the longer you want a policy to last, the more expensive the premium will be.

If you’re aged between 30 and 50 you’ll want to decide between term life insurance or whole of life cover. Which one is right for you will depend on your personal circumstances. Compare prices and find the right fit for your budget through Life Expert.

Anyone in their 50s can get access to specialist over 50s policies. This type of life insurance is ideal for anyone who isn’t in the best of health as there are usually no health-related questions asked during the purchasing process. Term and whole of life cover are other options you may wish to consider. Again, the right option will depend on your budget, how much you need the policy to pay out and other factors such as lifestyle and overall health.

Why Secure Life Insurance For All Ages with Daddy Insurance

At Daddy Insurance, we deliver quotes from our panel of insurers. We’ll also help you to conduct a full comparison between the best life insurance options to suit your needs. All of our quotes are completely personalised. Plus, our experts are always on hand to help guide you through the entire purchasing process.

What Is Term Life Insurance And How Much Does It Cost?

Wondering if term life insurance is right for you, we’ll explain the options and to help you make an informed decision that works with your budget.

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Find out exactly what term life insurance is and how much your premium will be in this guide.

Term life insurance is something we’ve all heard in conversation. But, what actually is it? And more importantly, how much can you expect to pay for a term life insurance policy?

In this guide, we’ll take you through the various different types of term life insurance on offer. We’ll also explain how much you can expect to pay for a policy, what term life insurance actually covers you for and the lifestyle factors that will affect the price of a premium. Scroll on to learn more.

What is term life insurance?

Term life insurance is valid for an agreed period of time (or ‘term’). This is usually an age at which you wish the policy to expire and is agreed between both the policyholder and the insurance provider. For instance, if you take out a term life insurance policy in your early 20s and wish for it to expire when you turn 80, you’ll be covered up until your 80th birthday. If you were to die before turning 80, the policy will pay out. If not, it expires.

How do the different term life insurance policies work?

There are three types of term life insurance. These are:

In order to find out which is the right fit for you, let’s explore the different types of term life insurance in a bit more detail.

Decreasing Term Life Insurance

If you’re responsible for mortgage repayments, decreasing term life insurance is an affordable option that makes sense. It generally has one of the lowest premiums, making it an ideal choice for tighter budgets. Decreasing-term life insurance covers any outstanding debts you have if you die while the policy is still active.

Decreasing-term, simply put, means that the amount the policy pays out reduces as the outstanding balance of your financial commitments decreases. The main reason a person would take out this type of policy is to ensure any financial obligations(including mortgage repayments) are not left to your survivors.

Level Term Life Insurance

Level term life insurance pays out a fixed lump sum agreed between the policyholder and the insurance provider. This amount stays the same throughout the duration of the policy. This option offers a security net for all different types of people.

Level term life insurance guarantees your beneficiaries will receive a specific sum should you die during the policy’s agreed term.

Increasing Term Life Insurance

Increasing-term life insurance provides a lump sum payout that increases annually by a fixed amount. The yearly increases continue for the duration of the policy.

This type of term life insurance generally is best for anyone wanting to protect their policy’s value. It helps your policy maintain its worth in line with inflation.

What do term life insurance policies cover?

Generally, term life insurance policies will pay out a lump sum in the event of your death. This is awarded to your survivors and helps to support them financially and covers any outstanding debts you leave behind.

Term life insurance policies work the same way as all life insurance policies. They pay out in the event of your death providing you die during the agreed term (policy duration). Life insurance pay-outs are a financial safety net. They help with day to day living costs such as mortgage repayments and they can leave an inheritance behind for your loved ones.

Term life insurance is a very important investment. Which is why choosing the right policy for your needs is essential. As is deciding what you want your term to be.

How much does term life insurance cost?

Term life insurance typically costs between £15 and £30 per month. That said, premiums can be as low as £5 per month in some cases and they can rise as high as £100+ per month. As with everything, there are several defining factors that will impact the price of your term life insurance policy.

Let’s take a closer look at what affects the price of insurance premiums.

What factors affect the price of a term life insurance policy?

The cost of your term life insurance premium is generally dictated by your personal circumstances. This, as well as the level of cover required and the length of time you wish the policy to last. There are a number of factors that will impact the price of your term life insurance policy. These include:

Other things that impact the cost of a term life insurance policy include the length of the policy and the level of cover. The longer you want a policy to last impacts the price. The level of cover you require does too. Consider how much you want and need the policy to pay out.

Why Secure Life Insurance with Daddy Insurance

At Daddy Insurance, we deliver quotes from our panel of insurers. We’ll also help you to conduct a full comparison between the best term life insurance options to suit your needs. All of our quotes are completely personalised. Plus, our experts are always on hand to help guide you through the entire purchasing process.

Is Over 50s Life Insurance Worth It?

As you approach the age of 50, it may become wise to consider purchasing life insurance. Read on to learn more.

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Is It Worth Getting Life Insurance at 50?

As you approach the age of 50, it may become wise to consider purchasing life insurance. After all, it is of paramount importance to the most of us that our loved ones are protected against any financial eventuality after we sadly pass away.

When weighing up the pros and cons of purchasing a life insurance policy, it becomes important to understand exactly what life insurance is and how it works. After all, you are investing in your family’s financial future.

What Is Life Insurance?

Life insurance policies act in the best interest of the policy holder by providing their beneficiaries with cover once they eventually pass away.

The funds acquired from a life insurance pay put can offer loved ones with the financial means to cover funeral costs, mortgage payments, and any other household bills. In cases where the beneficiary may not be a direct family member, policy holders can opt for a life insurance policy that pays out to a charity. The legacy or charity will receive the pay-out upon the person’s passing as a family member or alternative beneficiary would.

How Does Life Insurance Work?

Depending on your policy and the guidelines attached, each life insurance policy will have its own period of cover attached- whether it be 10, 20 or 30 years in the instance of a Term Life Insurance agreement.  Upon purchasing a life insurance policy, you will receive your policy documents which will specify the payment your beneficiaries will receive once you have passed away. The amount paid out will depend on the policy you have purchased, and the amount of coverage selected.

By maintaining your policy with monthly or annual premium payments your funds will reach your chosen beneficiaries once notified of your death.

Over 50s Life Insurance Plans

Over 50s life insurance is a specific type of life insurance policy that has been designed to cover those over the age of 50 years old. Unlike other types of life insurance, no medical assessments are required o be approved for a policy- the screening goes no further than a small selection of basic health questions to that the policy provider can gain an insight into your medical background so far.

As with other alternative policies, over 50s life insurance will pay out a lump sum to your chosen beneficiary on the occasion of your death. Once again, the lump sum pay-out total depends on the coverage you opt to purchase.

It is known that some over 50s life insurance policies offer guaranteed acceptance, meaning that providing you meet the age criteria set out, you will be accepted to purchase an over 5os life insurance policy when you need it.

It is important to note that due to the fact acceptance rates are high, premium rates are higher than average with over 50s life insurance plans, due to the risk of death being higher in these particular age brackets.

Why Over 50s plans are great Plans If You Have Medical Issues

Due to minimal medical assessments, over 50s life insurance plans are a good option for individuals with medical issues or a particularly extensive medical history. The most favourable selling point for over 50s with medical issues is that over 50s life insurance offers a considerable higher acceptance rate than other life insurance policies available on the market. This way, you can still protect your family after your death regardless of your medical history.

Eligibility requirements will vary based on the company you wish to purchase your policy from. It is beneficial to shop around and find a policy that meets your needs fully. This is particularly useful as you can expect to pay considerably more for this type of policy.

The Difference Between Over 50s Life Insurance Policies and Alternative Policies

As discussed previously, the key difference between over 50s life insurance and other types of life insurance is that you will not need to take a medical examination as part of the qualification process. In addition, the higher premium rates make it a more expensive alternative to differing life insurance policies. Furthermore, over 50s life insurance plans are known to have lower overall coverage amounts, meaning that your beneficiaries will be paid less once you pass away than they would with a different policy, for example.

Comparing policies before purchasing will allow you to ensure that you purchase the best suited policy to you and your family’s needs.

How To Buy Over 50s Life Insurance from Daddy Insurance

Daddy Insurance offers a broad range of life insurance products to suit everybody’s specific needs. Purchasing over 50s life insurance through Daddy Insurance will allow you to get the very best deal on the market.

Simply input some details into our web form in order to get a free quote.

Once quoted, we can assist you to find the very best over 50s life insurance policy to suit your personal circumstances and financial status. Daddy Insurance goes above and beyond to ensure you are getting the very best deal.

In addition, you can live peacefully knowing that your over 50s life insurance policy premiums will never go up once you have purchased your chosen policy. This provides you with peace of mind should you face any financial difficult in the future.

Is It Worth Getting Life Insurance at 50?

Ultimately, whether or not it is worth getting life insurance at the age of 50 will depend on each person’s personal situation. It is important to consider factors such as dependents, personal savings, any debts or mortgage payments and your overall health.

For example, if you have dependents and any outstanding debts, it could be wise to purchase a life insurance policy to ensure that your dependents are financially supported in the event of your death.

Get a free over 50s life insurance quote from Daddy Insurance today.

How Much Does Life Insurance Cost Per Month In The UK?

The cost of life insurance will depend on the insurance provider & the type of policy that you wish to purchase. Thus, the premiums will vary.

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How Much Really Is Life Insurance?

Purchasing life insurance is something that most of us will consider at some point in our lives. Whether it be to help with the costs of our funeral, or to offer our loved ones some financial security in the event of our passing, a pre-purchased life insurance policy will offer peace of mind when we need it.

The cost of life insurance will depend on the insurance provider and the type of policy that you wish to purchase. Thus, the premiums you can expect to pay during the policy period will vary.

What Is the Average Monthly Cost For Each Life Insurance Policy Type?

The total average monthly cost for each life insurance policy type is dependent on a series of varying factors, such as: health, age, occupation, lifestyle, and the total amount of coverage you may require. The costs outlined below are to be used as a general guideline to aid your life insurance comparison.

Term Life Insurance

Term Life Insurance offers a policy agreement that lasts a specified time period- typically, between 10 to 30 years in total. On average, a Term Life Insurance policy will cost between £10 to £25 per month based on a healthy 35-year-old applicant seeking a coverage amount between £250,000 to £500,000.

Whole Life Insurance

Whole Life Insurance polices are designed to offer an individual coverage for the entirety of their lifetime. Costing between £50 to £200+ per month for a healthy 35-year-old at a coverage amount between £250,000 to £500,000, Whole Life Insurance is a great option for those wanting to provide maximum security to their loved ones.

Over 50s Life Insurance

Marketed at individuals over the age of 50, Over 50s Life Insurance offers a guaranteed pay-out to your loved ones once you pass away to help with funeral and other costs. An average policy costs between £10 to £50 per month for a healthy 55-year-old seeking a coverage amount between £10,000 to £25,000.

Critical Illness Cover

Critical Illness Cover offers an individual cover in the unfortunate event of a serious illness such as cancer, heart attack, or stroke. On average, the policy will cost between £15 to £50 per month for a healthy 35-year-old seeking coverage between £100,000 to £250,000 overall.

What Costs Could A Life Insurance Policy Cover?

Various costs could arise after your death which will ultimately be left for your loved ones to deal with. In order to make it easier, purchasing a life insurance policy could help cover the cost of the following:

What Affects The Overall Cost Of Life Insurance?

There are multiple factors that can affect the overall cost of life insurance premiums, these include:

What If I am A Smoker?

Smoking or vaping can significantly increase the cost of your life insurance policy, This is because of the detrimental health implications attached to smoking. It has been known that smokers can expect premium prices to almost double as a result of this. For example, a typical policy that costs £10 per month for a healthy 35-year-old adult could cost up to £20 for a smoker.

In order to declare yourself as a non-smoker to a life insurance company, you must be able to demonstrate that you have been nicotine free for a minimum of 12 months prior to applying for a life insurance policy. Whilst it is a factor that will increase the cost, it does not mean that your life insurance policy will be refused.

When Is The Best Time To Purchase Life Insurance?

There is no specific ‘best’ time to purchase a life insurance policy. It simply depends on your personal circumstances. However, there many instances that prompt you to purchase a policy to protect your family in the event of your death. These may include things such as having children, becoming ill, getting married, buying a house, or simply just aging.

Whatever your reason to purchase a life insurance plan, you should consider each factor carefully to ensure that you are purchasing the best policy to suit your personal needs, as well as those of your chosen beneficiaries.

How To Reduce The Cost Of Life Insurance?

Keeping the cost of life insurance down may be a necessity to some in order to keep life insurance accessible to as many potential policyholders as possible. Below are some ways in which you could attempt to keep the cost of life insurance policies down:

Why Choose Daddy Insurance To Purchase Life Insurance?


Daddy Insurance can offer assistance in purchasing a life insurance policy. We understand that purchasing a policy to protect your family is huge, therefore, we always do right by our customers to ensure they get the very best insurance policy available.

You can use our easy-to-use website to apply for a free quote. Talk to us today and receive exceptional customer service from our dedicated insurance agents.