LIFE INSURANCE FOR YOUR WIFE
If you are a Wife, you will now pay the same as your husband for protection insurance due to EU Gender Neutral Directive. Being married - you probably have other things on your mind than thinking about getting a Life Insurance policy. However, having loving responsibilities means you should still consider looking at the peace of mind Life Insurance or Critical Illness will do to help protect each other, a family if you have one or mortgage.
Can I get Life Insurance Policy for my Wife ?
Yes - UK Insurance rules state there must be an insurable interest between each partner to arrange a joint life insurance policy which there is being married. Your wife could always arrange a policy for themselves. Also both parties must consent to this arrangement ie; you cannot just apply on your wife's behalf without their knowledge.
Can I put my Wife on my Life Insurance Policy ?
As above Yes - Insurance rules state there must be an insurable interest between both partners to add them to your life insurance policy. Again both parties must consent to this arrangement ie; you cannot just add your wife's details onto your life insurance without their knowledge.
Can I get Life Insurance Policy for an Ex Wife ?
Yes - But only if as mentioned there is still some insurable interest between you & your ex-wife eg; you perhaps have children together or maybe a joint mortgage still or loan. If you are on speaking terms with your ex wife they must consent to arranging a life insurance policy & with their knowledge.
Can my Wife be your Life Insurance Beneficiary ?
Yes they can - if you wish to. Either they can own your life insurance plan directly; classed as life of another [ see comments above re Insurable interest ]. Note if you then split up though this can cause issues with the insurer having to undue this arrangement & may require additional legal costs by you seeking specialist advice. The alternative is to put the policy into trust where your wife is either one of or the sole beneficiary.
Can my Wife be a Trustee on my Life Insurance Policy ?
Yes they can - if you wish to. If you put the policy into trust where your wife is either one of, or the sole beneficiary. Either they can be sole Trustee or have 2 Trustees ideally. Note again if you split up though this can cause issues with the insurer having to undue this arrangement & may require additional legal costs by you seeking specialist advice.
Being a wife means as mentioned you will now pay similar rates as your husband but still face the various challenges that may come looking after loved ones if they are critically ill or die; Let trying to get life insurance hopefully not be another great challenge. Either way please approach us for friendly Professional Help.
LIFE INSURANCE FOR WIVES - PRODUCTS REVIEW
MORTGAGE PROTECTION - for Wives
Designed to cover a repayment mortgage on death or critical illness as it decreases during the plan term.
LIFE INSURANCE - for Wives
Offering a family protection lump sum if the policy holder dies or is diagnosed with a terminal illness during the term or whole lifecover. Policies can be made joint or seperate.
FAMILY INCOME BENEFIT INSURANCE - for Wives
CRITICAL ILLNESS INSURANCE - for Wives
Helps ease financial worries if you are diagnosed with a critical illness as specified by the Insurance Company.
CHILDREN'S CRITICAL ILLNESS COVER
Helps ease financial worries if your child is diagnosed with a critical illness as specified by the Insurance Company.
INCOME PROTECTION - for Wives
Providing security by way of an income if you are off sick or have an accident.