What is life insurance?
Most life insurance policies are designed to pay out a cash sum to your loved ones if you die while covered by the policy. It can help them deal with everyday money worries such as household bills, childcare costs or mortgage payments.
You choose the amount of cover you need and how long you need it for. You can take out life insurance under joint or single names and you can pay your premiums monthly or annually. For more help, speak with our fully qualified advisors.
What life insurance should i buy?
There are two main types of life insurance, decreasing life insurance, known commonly as mortgage cover and level, known as term life insurance and whole of life insurance. Speak with our advisors to find out what cover you need.
How does life insurance work?
Life insurance is really simple; If you die or are diagnosed with a terminal illness while covered by the policy (provided your life expectancy is less than 12 months) you could receive the value of your policy.
We help you choose the amount of cover you need and how long you need it for. You can take out life insurance under joint or single names and you normally pay your premiums monthly or annually.
Do I need Life Insurance?
YES… probably! Do you have a loved one, do you have children, do you owe money to the bank, if so we highly recommend you have life insurance.
We believe that if you have people that depend on you financially, such as children or a partner who relies on you financially then life insurance could be a way of helping to protect them. We insure every material possession we own, with car insurance, mobile phone insurance, pet insurance, home insurance. We believe the most important insurance if on your life.
What does life insurance cover?
Its simple, you choose either a monthly amount you can afford, or a fixed sum that you would like to insure and this would be the insured amount. Depending if you choose level or decreasing cover, the amount insured will either stay the same for the term or decrease! Usually inline with your mortgage balance. You can discuss this with one of our advisors today.
What can i use life insurance for?
Raising a child is one of the obvious reasons people start to think about life insurance. After all, what is life insurance for if not to protect families? But it’s not the only reason you should think about getting cover. If you live with your partner and they would struggle to pay the mortgage if you were to die, then you should consider life insurance.
A Life Insurance policy could be suitable if you have an interest only mortgage, as the cash sum that could be paid out could help to pay off the mortgage. Or it could also be used to help your family with everyday living expenses.
Decreasing Life Insurance is designed to help protect a repayment mortgage so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.
Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.
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