QuoteLifeCover

  The short answer to this common question about life insurance is, yes. Certainly, from a legal standpoint, there are no rules preventing you from having more than one active life insurance policy at any given time. So, you are allowed to have multiple such policies, whether you have them from the same life insurance provider, or even with different companies. But it’s one thing to know that you technically and legally can have several life insurance policies, and quite another thing to determine whether you should have more than one policy. You can have more than one policy, but is it necessary? There are various common reasons why people consider taking out another life insurance policy on top of their existing one. You might like the life insurance policy you have now, but you may not feel that it covers all of your current financial responsibilities - such as a mortgage or your children’s tuition fees - to the extent that it should. Or perhaps you have made positi...

  The ongoing - and intensifying - cost-of-living crisis is likely to have taught you many things, and one of those will surely be how invaluable a thing it is to have a steady income. As our incomes come under ever-greater pressure, and in many cases will have barely kept pace with inflation, you might be anxiously looking over your long-term financial commitments, and you may be wondering what you can do to keep on top of them. For this blog post, let’s focus on just one such commitment you might have: your mortgage. A recent monthly remortgage snapshot found that almost half of borrowers who did remortgage took on bigger loans that added hundreds to their monthly mortgage repayments. You might have made the same decision that a lot of people with a mortgage have done: taking out a mortgage protection insurance policy. But given that this type of protection product only pays out a lump sum to cover the remaining mortgage debt if the homeowner passes away, you might worry that...

  The whole point of taking out an income protection insurance policy is to give yourself greater financial protection - in the form of monthly tax-free payments - in the event that you are rendered unable to work due to long-term illness or disability. For that reason, you can probably imagine that any prospective insurer will take a lot of interest in your existing health. While a pre-existing health condition will be far from the only factor potentially affecting how much you pay for income protection cover - or your chances of being approved for such insurance at all - it could certainly be a very important one. So, what are some of the most crucial things to know if you already have a health issue and you would like to purchase income protection insurance? Will the insurance policy that you buy give you adequate protection? We say this constantly here on the QuoteLifeCover blog, but it really is the kind of thing we feel the need to repeatedly underline: you need to c...