Life Insurance

Life insurance is a policy designed to provide a financial payout to your chosen beneficiaries if you pass away during the policy term. The money can help cover mortgage repayments, everyday living costs, household bills or provide financial security for your loved ones.

Life insurance may be worth considering if anyone relies on your income or if you have financial commitments such as a mortgage or children. It can help provide financial support for your family if the unexpected happens.

The amount of cover you need depends on your individual circumstances, including your mortgage, income, outstanding debts, future financial commitments and the needs of your family. A protection adviser can help you choose the right level of cover.

Yes. Many people choose life insurance to help ensure an outstanding mortgage could be repaid if they pass away during the policy term, helping to reduce financial pressure on their loved ones.

Yes. Having a medical condition does not automatically prevent you from getting life insurance. Your eligibility, premium and level of cover will depend on your health, lifestyle and the insurer’s underwriting criteria.

Generally, the earlier you arrange life insurance, the better. Premiums are often lower when you’re younger and in good health, although cover is available for many people at different stages of life.

Life insurance usually pays out if you pass away during the policy term. Critical illness cover is designed to pay a lump sum if you’re diagnosed with a specified serious illness covered by your policy. The two types of protection can often be arranged together.

Yes. We will discuss placing your life insurance policy in trust as standard. Depending on your circumstances and the type of trust used, this may help ensure the policy proceeds are paid to your chosen beneficiaries and may help keep the proceeds outside your estate for Inheritance Tax purposes. It can also help the proceeds reach your beneficiaries without unnecessary delays associated with probate.

At Mortgage Experience, we take the time to understand your circumstances before recommending suitable life insurance. Our experienced protection advisers will explain your options clearly and help you find cover that’s tailored to your needs and budget.