What family insurance products should we have in place?

We have just taken out a new mortgage and are unsure of what protection we need, we have two additions to the family since we last remortgaged and feel now is the time to get it all sorted.

Question asked by James Laverty
Compare Top 10 UK
 Protection
Insurers
 
Takes approx. 60 seconds
Type of Policy
Level of Cover
Date of Birth
Loading your options...
Thank you for using our Quote Tool
If you need some help, just call us!
T: 02084327333
Our in-house Experts are here to provide FREE impartial advice!
Our Experts can answer all your questions
Our Experts can send you more appropriate options based on your personal circumstances

Very important if you are either Self-Employed or a Company Director.

Our online quote tool is good but our Experts are better

Oue Experts have access to far more insurers and can often find a better deal offline.

Saves you time, let our Experts do what they are best at

Answered by Andrew Jenkinson

Drewberry’s four step approach to protection insurance

Without asking further questions and taking you through a full fact find we wouldn’t be able to give you specific advice but we can say that we often recommend that families consider a four step approach to their protection insurance.

Step 1 – Protecting your income

Choose Income Protection to protect your monthly income if you are unable to work due to any accident or sickness.

Step 2 – Protecting your mortgage and debts

Choose Life Insurance to protect your mortgage and any large outstanding debts. The policy would pay out a lump sum to your beneficiaries in the event of your death or diagnosis of a terminal illness.

Step 3 – Protecting your loved ones

Choose Family Income Benefit to protect the standard of living of your loved ones should the worst happen. The policy pays out a monthly sum to your dependents on the event of your death until an age where you believe they would be self-sufficient (usually at the age of 21).

Step 4 – Protecting against serious illness

If your budget permits choose a small amount of Critical Illness Insurance, it provides you with a cash lump sum should you or your children suffer from a critical illness, this payment can help with any larger expenses such as adjustments to your home or hospitalisation costs.

Naturally this only provides a very high level overview. To ensure the products fit your needs there is a lot more we would need to know about your circumstances including but not limited to any sick pay or savings you may have to support yourself, the size and type of your mortgage and how long it lasts.

Seek advice

If you are ready to talk about your specific circumstances and find the right family insurance products for you then please do get in touch with our insurance experts on 0208 432 7333.

family income benefit
 
critical illness insurance
 
income protection
 
life insurance
 
family insurance
 
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
Compare Top 10 UK Insurers
  Takes approx. 60 seconds
 - 
Need help? 
Call us on 

Frequently Asked Life Insurance Questions

 
I currently have a personal Life Insurance policy, but I just switched jobs and my new employer offers...
 
I frequently go gliding as a hobby, i’m looking to get life insurance as a cushion for my family...
 
I was planning on taking out life insurance for my kids and came across Family Income Benefit, I wanted...
 
I’ve recently gone self employed and need to replicate my old employee benefits. The main cover...
Need Help? Live chat now and get an instant answer from our Experts...

Neil
Pensions

Victoria
Insurance
Our Latest Reviews
Paul Henderson
14/12/2018

Very helpful and professional advice. Would recommend using Drewberry if you are looking for help with Relevant Life Insurance.

Glenn Harris
15/12/2018

I cannot commend highly enough the quality of advice and service I have received from Drewberry. Jake kept me fully informed throughout the process until the insurance was finalised.

Julian Tomkins
10/12/2018

Great job on Life insurance. Phoned back quickly. And quickly found me good alternative when issue with first provider. All super easy to set up and do.

We are rated 4.9/5 based on 1966 independent client reviews.
To read more of our independent client reviews click here →
REVIEWS
EXCELLENT
4.92 / 5 Average
1916 Reviews
Verified Buyer
Overall Rating
The whole process was a pleasure. Drewberry we're easy to deal with, polite, knowledgeable and helpful
Verified Buyer
Overall Rating
Very good, clear service would recommend to friends and family
Anon
Overall Rating
Sam Carr provided an efficient and professional service.
Verified Buyer
Overall Rating
Sam Carr provided a professional but enthusiastic service and helped make the whole process very straight forward. Goodness knows I have been through enough application forms recently. My insurance product was never going to be easy to find and I had been rejected on a number of other occasions through others ironically due to well managed common health conditions. I identified Drewberry in a last and disappointing trawl on th web to find someone that actually wanted to take on a difficult case like me. Some brokers wouldn't even consider me. When we applied for my first choice product Sam wasn't at all deterred by the long wait for my GP report or the final rejection that came back from the insurer, sadly I have become used to it. Within a day he had lined up the second choice and to my surprise he had hit the nail on the head and introduced me to the correct insurer and terms for my needs whilst nogotiating an excellent premium. I am extremely satisfied with what Sam has achieved for me and I would have no hesitation in recommending either him or Drewberry to friends, family and and business contacts. In the future, Drewberry will be my first point of contact. Many thanks!
Kym
Overall Rating
Tailored to my need and the staff gave very good service