COMPARE LIFE INSURANCE FOR DADS
If you are a new Dad, a single Dad or Daddy to be - you probably have other things on your mind than thinking about getting a Life Insurance policy. However, having parental responsibilities means Dad's should consider looking at the peace of mind Life Insurance or Critical Illness will do to help protect their partner, family or mortgage. Some Uk Insurers do offer free Dad's life insurance cover for upto 1 year - but only whilst your child is still young usually under age 5.
Naturally, not every Dad is the same when looking at life insurance risks. Some Dads may have health issues but UK Insurers may consider this to be acceptable at their standard rates, especially if it doesn’t vastly impact your usual daily activities of living.
Conversely, if you do have to take any stronger medications - then insurers may consider a premium increase are likely & perhaps after GP reports – but this cost increase could still be less than you think. This can also happen if this may have a potential reduction sadly on your life expectancy risk, or other combination of medical health risks factors that insurers are not willing to cover at standard terms.
Being a Dad & Father means you appreciate the various challenges that looking after loved ones is required on a daily basis; Let trying to get life insurance hopefully not be another great challenge. Either way please approach us for friendly Professional Help on the Best Dad's Life Insurance Policy.
LIFE INSURANCE POLICIES FOR DADS : FAQ 2021
What is the Best Life Insurance Policy for Dads ?
There are many different types of schemes available ( see below products review ). Please get a no obligation quote from our website first to get an idea of both cost & terms available; it is best to speak to one of our Professional Advisers before buying.
Can I buy a Life Insurance Policy for my own Dad ?
Yes, Possibly - UK Insurance rules state there must be an insurable interest between a father & another to arrange a life insurance policy eg; he looks after your 3 children whilst you work, so a material financial loss may occure if he died. He can always arrange a single policy for himself. Also both parties must consent to this arrangement.
Can I get a Life Insurance on my Dad without him knowing ?
No - both parties must consent to this arrangement ie; you cannot just apply on his behalf without their knowledge.
Can I put my own Dad on my Life Insurance Policy ?
As above - UK Insurance rules state there must be an insurable interest between yourself and your dad to add him to your life insurance policy eg a joint mortgage.
Can my Dad be my Life Insurance Beneficiary ?
Yes he can - if you wish to. Either your father can own your life insurance plan directly; classed as life of another [ see comments above re Insurable interest ]. Note if they died first 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 Dad is either one of or the sole beneficiary.
Can your Father be a Trustee on my Life Insurance Policy ?
Yes he can - if you wish to. If you put the policy into trust where your dad is either one of, or the sole beneficiary. Either he can be sole Trustee or have 2 Trustees ideally as he is older so sadly more likely to pass away sooner. Note again if this happens, this can cause issues with the insurer having to undue this arrangement & may require additional legal costs by you seeking specialist advice.
Being a dad means you appreciate the various challenges that looking after loved ones is required on a daily basis; Let trying to get life insurance as a dad hopefully not be another great challenge. Either way please approach us for friendly Professional Help on the Best Life Insurance for Dads.
LIFE INSURANCE POLICY FOR DADS - PRODUCTS REVIEW
MORTGAGE PROTECTION - for Dads
Designed to cover a repayment mortgage on death or terminal illness as it decreases during the plan term. Can also include critical illness cover.
LIFE INSURANCE - for Dads
Offering a family protection lump sum if the policy holder dies or is diagnosed with a terminal illness during the term or whole lifecover; Life Insurance for Dads, my Child's Father or my Dad.
FAMILY INCOME BENEFIT INSURANCE - for Dads
CRITICAL ILLNESS INSURANCE - for Dads
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 as a Dad and Father if your child is sadly diagnosed with a critical illness as specified by the Insurance Company.
INCOME PROTECTION - for Dads
Providing security by way of an income if you are off sick or have an accident.
Dads & Fathers Life