Life Insurance

Although death is not a nice thing to have to plan for, it is inevitable that one day it will come around for all of us.  Life Insurance, which can also be known as term assurance and life assurance, is one of the more simple types of policies available which will cover death. 
In the event that the insured or the policy holder dies within an agreed term, the policy pays out a lump sum, with the main purpose of helping to protect dependents and loved ones against any financial hardship.   We will also advise on the appropriate use of Trusts to get any proceeds of the policy to your loved ones straight away.

Life Insurance policies are available on a joint or single life cover basis, in order for any payments to be paid out to dependents the policies premiums need to be up to date, otherwise the policy will have no value at all.

At Mortgages for Homes we can advise you of the type of life insurance policy that best suits you, whether it is a decreasing term assurance or level term assurance policy, we can explain the benefits of each to you.
Other policies available include:-

• Index linked term insurance
• Renewable term insurance
• Increasing term insurance
• Convertible term insurance

Premiums that are payable on the above policies are usually either reviewable or guaranteed, this is where the life insurance company will either review your policy at regular intervals or will commit to guarantee that the premium will never increase.

We can provide further information on all the above types of policies as we also realise there is a minefield of information out there which can also be very confusing at times.