Life insurance brokers
What is life insurance and how does it work?
Do I need life insurance?
Life insurance brokers can help you to provide financial security for your loved ones if you die or are diagnosed with a critical illness, during the term of your cover. A life insurance policy will pay a tax-free sum of cash to whomever you choose, which could be vital if you have dependants, including a partner, children, or relatives, who rely on your income to pay for everyday expenses. Similarly, if you live by yourself, life cover can also help to clear any outstanding financial commitments such as your mortgage, to avoid passing this burden onto your nearest and dearest.
How much life insurance do I need?
Everyone’s needs are different, so it is important to ensure that your life insurance brokers get the right level of cover for your needs. If you are a homeowner with no dependents, you may only need to protect your mortgage. But if you have a family, you will probably want enough cover to ensure that they can continue to maintain their current lifestyles, when you can no longer be there to support them.
Difference between life insurance and life assurance
Life insurance only covers you for a fixed period, such as the duration of your mortgage, whereas life assurance provides whole of life protection. Unsurprisingly, whole of life policies are more expensive than life insurance policies. But, as your loved ones are guaranteed a pay-out no matter when you die, you have peace of mind knowing that they are protected.
Do you need life insurance for a mortgage?
Life insurance for a mortgage is not compulsory unless your mortgage lender requests it. But you need to consider how your loved ones would make your mortgage repayments if you suffered a serious illness and could no longer work or passed away. Luckily, our life insurance brokers are at hand should you need any advice.
What life insurance is best for me?
There are various types of life insurance. But the right policy for you will depend on the type of cover you want and how much you can afford to spend. As life insurance brokers, we can help you to get the right level of cover for your needs.
Types of life insurance
Get the right cover for you