Insurances
Life Insurance
Passing away is never an easy topic of conversation or something people want to think about. But now you have secured your mortgage objectives its vital you can protect this dream with a suitable life insurance policy.
What is life insurance ?
Life cover is an insurance policy on your life, which means a payout will be made if you die during the policy term. Life insurance can be based on the size of your mortgage and decrease in line with your mortgage (decreasing cover) or it can be arranged to pay out a fixed lump sum (level cover). Life insurance is a great tool to protect you and your family for the future. For example your mortgage may begin at £200,000 and you can select a decreasing mortgage term at £200,000 and an additional level policy of £100,000 to leave behind. This additional cover can be used for anything from funeral arrangements to paying off debts.
How easy is it to arrange?
Life cover is incredible easy to arrange and can usually be completed with an over the phone medical questionnaire, in some rare instances the providers we work with may require a medical but this is usually linked to any historically or ongoing health conditions declared.
What is covered?
Life insurance pays off the agreed amount if you were to pass away or if you are diagnosed with a terminal illness and are given less than 12 months to live.
Is life insurance necessary?
Whilst not legally required life insurance is a vital part of your overall protection package and is often considered the bare minimum requirement if you are looking to secure yours and your family’s future.