Life Insurance for Newlyweds
- £200k cover for less than £6 a month*
- Your premiums will never increase
- Awarded ‘Best Life Insurance Provider’ by YourMoney.com 2023
Congratulations on your recent marriage and welcome to a life of wedded bliss! As you look forward to your future together and the adventures you will embark on, it is a good time to consider the practical and financial aspects of this new stage in your life.
Life insurance can act as a safety net for both you and your partner, providing you with financial support, even if the worst should happen. The peace of mind provided by the right life insurance policy means that you can enjoy your honeymoon period without having to worry about the future.
Why Life Insurance Matters
While life insurance and romance do not automatically go hand in hand, it is undoubtedly a great demonstration of care and commitment to your partner. If you or your partner were to pass away, life insurance could support the remaining partner through their grief without also putting them under financial strain. Life insurance is there to protect and support your loved ones through the hardest times and alleviate external stresses that they may otherwise encounter.
A few examples of how life insurance can help support you are:
- Life Insurance can help protect your spouse financially by paying a lump sum if you pass away. This sum could allow your partner to maintain their standard of living, meet their mortgage payments, cover funeral costs, and support them while they are grieving. It is important to consider the amount of cover you will need to cover these factors.
- Your policy can also help cover your unpaid debts, like mortgages and bills. If you pass away, the money from the insurance claim could be used to settle your debts, relieving your partner from the stress of inheriting your loans.
- If you and your partner are parents, or have other caring responsibilities, life insurance can help to fund the care of your dependant, even if both of you were no longer around. This can be particularly important to support those who would inherit your caring responsibilities in your absence.
- At Beagle Street, we offer a free simple Will writing service. A simple Will is a Will that leaves an estate to a maximum of six beneficiaries without the use of trusts or tax planning. Without a Will in place, it’s not always clear who you wanted to leave your estate to so it’s important to have one.
Different Types of Life Insurance to Consider
At Beagle Street we offer both single life insurance policies and joint life insurance policies. As a married couple, it is worth considering both options when choosing your cover.
A single life insurance policy will cover one individual and only pay out in the event of their passing. A joint policy will cover both you and your spouse under the same policy, meaning that you only pay one premium a month.
With a joint policy, if either of you were to pass away during the term then this will leave the remaining individual uncovered and they will have to take out a new policy. A single policy each means that even if one partner passes away, the remaining partner is covered under their own policy.
Joint policies are typically cheaper than two separate policies and they are suitable for several circumstances such as a mortgage, shared debt, or responsibility.
Decreasing vs. Level Term policies
You will also need to choose whether you would like decreasing term or level term life insurance. Decreasing term life insurance decreases over the course of your policy and is best suited to covering large debts such as a mortgage. These policies are more affordable than level term policies but can still ensure your families biggest assets are protected.
Level term cover pays out a fixed amount of money upon your death and this sum is the same wherever you are in your policy. This means that you know exactly how much your loved ones would receive if you passed away. Level term life insurance can be used to cover fixed costs like household bills, mortgage repayments, loans, and any extra finances.
Considering Critical Illness Cover
Life insurance is an excellent way to support your spouse when you are no longer around. The addition of Critical Illness cover to your policy would mean than both you and your spouse are also supported if you were to become unwell with a range of serious conditions such as cancer, heart attack, stroke, or any of the conditions listed in our Policy Terms and Conditions.
If you were to fall ill in the future, a critical illness cover would pay out a lump sum that could go toward mortgage payments and bills if you were unable to work, cover medical expenses, fund any equipment needed/alterations to your home and ultimately to support you during difficult times so that you can focus on your wellbeing.
Adding critical illness cover to your policy could help you and your partner to navigate all of life’s unexpected challenges with the knowledge that you are protected, whatever should happen.
Managing your finances
We understand that a new marriage can also mean new expenses and bills. If you are worried about the cost of your monthly life insurance premiums, Beagle Street can help. We offer a fixed monthly premium, meaning that your monthly payments will never go up for the duration of your policy (unless you request to change your policy), so you don’t have to stress about any unexpected expenses.
Life insurance may not have been on the cards as a priority while you exchanged your vows, but there is no better time to secure your future together and put plans in place to safeguard your finances. By choosing the right policy, you can promise your spouse a future where they are protected, whatever might happen.
To learn more about the options available to you, or to take the first steps in setting up your cover, try our simple quick quote now or call our help centre on 0800 048 0480.
Get a quote today or speak to the team
At Beagle Street we’re here to support you through the application process. If you’re ever unsure about any of the questions in the application, we have a team of experts on hand to help.
or call us
0800 048 0480
Included with every Beagle Street policy
Estate planning kit
Accidental death benefit
Early funeral payout
Amazon gift card^
Free Beagle soft toy^
*Based on a 30 year old non-smoker, £200k decreasing term cover for 20 years
^Available only when purchasing a policy directly through Beagle Street. Within 60 days of paying the 2nd monthly payment, the soft toy will be dispatched. The gift card value varies depending on monthly premium. Within 30 days of paying the 6th monthly payment, you will receive an email to claim your e-gift.Full Terms and Conditions