My Circumstances Have Changed; Is Life Insurance Still Worth It?

At Choozi, we know that everyone is unique. We also know that circumstances can change quickly. While things could be comfortable now, a lot of us really don’t know what could be around the corner. This change could be because of a job loss or your health deteriorating. The important thing to remember is that if your circumstances change, life insurance isn’t necessarily out of reach.


It can be tough to deal with these kinds of things, not just in terms of life insurance. While we don’t offer a life insurance policy designed for high-risk individuals, it’s important to know that there are types of cover out there that can help you out. Life insurance doesn’t have to be complicated even if your circumstances have changed. 


Is it worth making changes to your life insurance? 


One of the most important aspects of a life insurance policy is making sure that you can pay the monthly premiums. During the application, the amount you’ll be paying each month will be agreed upon before the policy starts. As we all know things in life can’t always be plain sailing. You might be able to afford the premiums today but who’s to say what could happen in a couple of years’ time. It’s important then to know when to consider making changes to your life insurance. 


As you might have guessed if you have lost your job it could be a good time to make a change. Other times could be when you get a mortgage, have kids or your health circumstances were to change. Making sure these things are taken care of could be a great reason to get life insurance or even make changes to your existing cover. Ultimately, the changes you can make do depend on the insurance company you are with. Getting in contact with the company is an important step to take. This means that any issues can get sorted out sooner rather than later. 


Is life insurance worth it as you get older?


Age is something that everyone must face at one stage or another. If you feel like you might have left it a little too late to get life insurance, don’t worry. With Over 50’s life insurance you can get straightforward cover as long as you’re aged 50-80 and a UK resident. You may not be looking to get the same kind of things covered as when you were younger. The considerations we make as we get older tend to change and over 50’s life insurance reflects this change.


Generally, people tend to use this kind of insurance to help with funeral costs, settle debts or leave money behind as a gift. As such, the benefit amounts available are smaller in comparison to traditional life insurance policies 


Is Life Insurance worth it with Poor Health?


Poor health can make a lot of things more difficult. You might even think that it’s impossible for you to get insured in your situation. However, life insurance might not be as expensive as you think. The best way to find out would be to go through the application process. We’ve made it as straightforward as possible to allow you to get the cover you need.  


Your health can be a very personal thing. If you're unsure about how your health affects your life insurance, don't worry. You can read more about how it can impact your premiums. This will give you the information you need to make the right decision.

 

If you have had health issues in the past, for obvious reasons, costs would be a huge concern. With Choozi you can compare prices from leading providers in the UK. Rather than having to consult multiple websites or ring multiple providers with one search you know, you’re getting a competitive price.

 

If I am in poor health is there a way to get a better price for Life Insurance?


Some things are out of our control. However, there are some changes that could have a potential impact on the price of a premium. Things, like quitting smoking and losing weight, can all be beneficial for the price of a life insurance premium. It’s important to note here that for certain insurance types, like over 50s life insurance, there are fewer health factors that influence the price. Your smoking status and age are the main factors for this type of insurance.


However, the reality is there are no hacks or shortcuts to get cheaper life insurance. The most important thing when it comes to a life insurance application is honesty. Not being truthful with a life insurance company can cause serious issues further down the line. If you don’t answer the questions truthfully your cover may be invalid. This means that if something were to happen your loved ones wouldn’t receive the benefit amount. 


Don’t let life insurance stress you out when things change


If you suffer from poor health or you’re circumstances have changed, chances are you have a lot stressing you out already. Life insurance shouldn’t be one of them though. You shouldn’t be afraid to investigate it. Reading our guide to changing life insurance policies can be that first easy step. With Choozi you can search a wide range of providers that offer different features. Insurers understand that everyone’s circumstances are different. That’s why no two life insurance policies are the same. This is why finding a reasonable life insurance policy is a possibility.


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