What is life insurance?

A life insurance plan helps protect your loved ones financially if the worst were to happen or you get ill. Your family will receive a cash lump sum they can use to cover costs such as debts or any mortgage outstanding.

If you have a partner, children or any other dependents that rely on your income, then life insurance is for you. Most people will choose to take out life cover for a variety of reasons including having a baby, getting married or wanting to ensure their future is secure financially.

If you’re a homeowner or in the process of buying a home, it’s also a good idea to think about life insurance to cover your mortgage. This means that if you die before you’ve paid off your mortgage, then your family don’t need to worry about the monthly repayments.

What are the different types of cover?

There are four main reasons for life insurance we offer to help protect the things that mean the most. You can choose just one or, depending on your needs, combine them together for a more comprehensive plan.

Life Cover - Pays out a cash lump sum to your family if you die. You can either take out which covers you for a fixed amount of time (like the length of your mortgage) or a lump sum with a guaranteed payout on death

Critical Illness Cover - Pays out a cash lump sum if you’re diagnosed with a serious illness. 

Mortgage Life Cover - Helps you to pay your mortgage if you get ill or you die before your mortgage is paid off, peace of mind that should anything happen to you whilst in a mortgage plan.

Income Protection Cover - Pays you a monthly income if you get sick or injured and can't work.

 

We offer free no-obligation advice

 

Why should I buy life insurance?

For many people, life insurance is an excellent way to protect the things that matter the most – such as making sure your family’s financial future is more secure if something unexpected happens to you. It can also help to protect financially against critical illnesses, the loss of income if you get ill, or to ensure your mortgage repayments are covered if anything were to happen.

Your premiums are based on lots of things, such as your age, height and weight; your health; whether you’re employed in a high-risk occupation; and whether you smoke. Cover can start from just £10 per month but can change depending on such things as the amount of cover you need, the amount of time you want to be covered for, any pre-existing medical conditions etc.

We don’t offer Critical Illness Cover; we offer Critical Insurance Cover which is different as it pays you out for less severe conditions as well as critical ones. Critical Illness Cover gives you a percentage of your cover amount based on the severity of your condition. This means we’re able to pay out on a wider range of illnesses - not just the debilitating or life-threatening ones covered by typical critical illness policies.

With us, you can include Critical Illness Cover with Life Cover or take it on its own. The level of Critical Illness Cover you’ll need depends on a few things, so we recommend talking to one of our advisers first.  Tel: 07801 495171

Yes. If your circumstances change you can increase your cover or buy extra policies. You can also choose to add indexation to your plan at no extra cost. Indexation protects you against rises in the cost of living, making sure you always keep the level of cover you need and increases your cover each year without the need to go back through our application process. You can also choose to opt-out of any future increases.

It’s entirely up to you. We offer a minimum term of five years and a maximum term of your entire life. Most people will align their length of time with when they expect their mortgage to be paid off. You can then continue to reassess your protection needs as your life circumstances change.

Not necessarily, but you must tell us about any medical conditions as part of your application. If you don’t suffer from any conditions you may not need to have a medical.

This will vary depending on your personal circumstances and can be anything between £10,000 and £10,000,000. Have a think about:

- How much is left to pay on your mortgage
- How much other debt you have to pay
- How much you would need to pay towards childcare or education
- How much your loved ones would need to maintain their lifestyle
- How much you may need if you get a critical illness
- How much you can afford

You can find out more information here on our website otherwise if you’re new to life insurance it can be a good idea to get tailored advice from one of our qualified financial advisers. Our expert team can offer free no-obligation advice over the phone on Tel: 07801495171

This is used to determine the structure of your plan and the value that it’s worth over time. The monthly premiums you pay may change depending on this.

Level cover means that the value of your plan stays the same over time. It will only change if something happens such as you make a claim or change your cover.

Indexed cover means that the value of your plan will increase each year to align with inflation and rises to the cost of living.

Decreasing cover means that the value of your plan decreases over time. This may align with decreases to your mortgage amount as you continue to pay it off.

 

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