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When you have taken out life insurance your policy is activated, it can be generally amended at anytime. There are certain circumstances that can affect your policy premiums and terms and conditions.

These can be your occupations, if you have a family such as expecting the birth of a new child or even if your debt increases. You will need to update your insurance company provider if any of your circumstances change to enable your policy to be as up to date and as fully covered as it needs to be.

You need to ensure that if something does happen to you that your loved ones will have enough money to maintain the lifestyle they have become accustomed to. If you have moved house and taken a mortgage out or even increased the existing amount you have you will need to increase the amount of life insurance or Critical Illness Cover that you have.

General clauses within most Critical Illness Cover insurance policies are pretty standard across the board of insurance providers but it is always advisable to check the terms and conditions both before you apply and accept an offer made to you.

Income protection policies can be quite expensive because the insurance provider is taking on a large risk. If the applicant was to increase the deferred period, the premium would generally be reduced as effectively the risk has been reduced. If you are one of the lucky ones some employers provide a sick pay coverage for their employees however it will be written in to your contract of employment along with the time of pay and stipulations on what is covered and not.

Not every employer provides sick pay so it may be worthwhile considering taking out an income protection policy. If you have any previous or existing medical conditions or family history you may not always be offered cover immediately or if at all. The insurance provider may want to request medical information from your GP etc.