Life Insurance

A mortgage is typically the biggest financial commitment anyone undertakes.  If you have a partner or family would they still be able to keep up with the mortgage repayments and maintain their lifestyle if you’re not around? If the answer is ‘no’ then life cover is usually a sensible form of long-term financial planning. We will help you to:
  • Decide on the amount you need based on your situation. The right mortgage life insurance can guarantee a payment if you were to die prematurely that would cover the remaining debt on your property, allowing your dependants to put any concerns about meeting mortgage repayments aside.
  • Decreasing term. Typically this is arranged to cover your mortgage balance outstanding if you have a capital repayment mortgage. In the event of premature death your loved ones can pay off the outstanding mortgage with the proceeds of this policy. The amount covered decreases over the term of your policy, similar to the way a repayment mortgage decreases.
  • Level benefit. Typically this is arranged to cover your mortgage balance outstanding if you have an interest only mortgage. In the event of premature death your loved ones can pay off the outstanding mortgage with the proceeds of this policy. The amount covered remains level to the end of your policy term.
  • The term required. We will ensure that the term of the policy meets your personal circumstances. A term that is too long could cost more, one that is too short may leave you at risk of being underinsured.
  • Guaranteed premiums. This will ensure that your premiums do not increase as you become older. Some providers offer reviewable premiums which appear to be good value when you are younger but will see your premiums increase based on the insurers claims experience.
Family Income benefit Could your family still afford to meet its running costs if your income ceased due to premature death? Life cover for your mortgage will ensure that the mortgage is cleared, however will your family have enough income to maintain other costs such as utility bills, day to day expenses and lifestyle?  Family Income benefit is a way to provide your family with an income, rather than a lump sum if you die prematurely. This income could be used to meet everyday expenses or specific ongoing expenses such as school or university fees. We will help you to:
  • Decide on how much your family needs to maintain their lifestyle. By understanding your household spending and planning for future expenses we can ensure that you have a personalised benefit. Having the right level of cover will ensure that you are only paying for the amount you need.
  • How long you require cover for. Will your family be able to cope once your children are grown up and have flown the nest? Would your partner need additional income until their anticipated retirement age or beyond? We can help you understand the most appropriate term to complement your individual needs as a family.
  • Indexation of benefits. This ensures that your benefits are not eroded by inflation and that the benefits paid still have the same spending power. £100 in 1996 is approximately £173 today.
  • Guaranteed premiums. This will ensure that your premiums do not increase as you become older. Some providers offer reviewable premiums which appear to be good value when you are younger but will see your premiums increase based on the insurers claims experience.