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Life Insurance - Because Your Family Is Worth It



Life insurance is an affordable way to protect your family and give them a secure future if you're no longer around. You can choose the level of cover required. If you die, your insurance policy will pay out a lump sum or regular income for the amount you insure yourself for.

Anyone with a family and financial obligations shouldn't think "do I need it?" but rather "what kind and how much?" Different life insurance policies suit different needs.

Contact us and we can advise you on:

  1. How much life insurance you need.
  2. How long you want the cover for.
  3. What the right life insurance is for you.

We have listed below brief descriptions of different types of life insurance.

What are the different types of term assurance?

Level term insurance

"level" term policy can be used to protect your mortgage or your family against financial hardship in the event of your death. The premiums remain the same during the lifetime of the policy and so does the sum assured (the amount paid out if you die). It"s important to note that there is no cash in value at any time during or at the end of the policy term and should you survive past the end of the term, your policy will end.

Decreasing term insurance

Also known as mortgage protection insurance, the premiums you pay remain the same, but the cover reduces slowly during the term of your policy, dropping off steeply at the end. This type of life policy is normally used to protect repayment mortgages and because the sum assured (the amount paid out if you die) reduces over the term, the premiums on these policies tend to be cheaper than level term protection.

Increasing Term Assurance

Increasing term assurance is a fixed term policy where the sum assured will increase, either by a set percentage or by the Retail price index (RPI) throughout the policy term. Your premiums will rise according to the RPI if the sum assured does the same.

Renewable term

Renewable insurance is a policy lasting for a smaller period, usually five years, which can be renewed without further medical evidence. These types of policy are commonly used for protecting Company Directors.

Family Income Benefit

Family income benefit insurance is taken out for a set term. If you were to die during the term, instead of paying a lump sum, this type of cover provides an agreed tax-free income, possibly the equivalent to your monthly salary to your dependants until the end of the term specified at the outset.

Whatever policy you choose, you should always consider putting your policy in trust. We advise you seek professional legal advice when placing any policies in trust.

For protection insurance we offer products from a range of providers.

Whether you are looking for the best deal on a residential mortgage, or if you are considering Life Cover, Critical Illness, Income Protection or a Healthcare Plan, we offer expert and impartial mortgage advice on the widest choice of products in the UK.