Life Insurance

If you’ve got a mortgage or your family depends on your income, you’re likely to need life insurance. This kind of protection pays out a tax-free sum of money if you die during the length of the policy. The monthly cost can be as little at £5 and depends on how much protection you want and for how long, as well as your age and health.

You can use life insurance to pay off your mortgage when you’re gone or maybe you’d like to save your loved ones from worrying about the household bills.

Your circumstances such as health and age are factored into the cost. For example, if you are in your twenties, a non-smoker and a keen cyclist, a life insurance policy is going to cost less than if you were in your fifties, smoked and took little exercise.

Which policy is right for me?

There are many different policies which have been designed to meet all sorts of circumstances. Joint life insurance is very popular because it allows you and your partner to insure both of your lives and is often cheaper than if you had single policies. If your biggest monthly bill is the mortgage, there are mortgage life insurance policies that are designed to help pay off any outstanding mortgage should you die.

Life insurance quick facts

• Flexible amount of cover
• Flexible term
• Cost of policy spread across policy term Pays out tax-free cash sum if insured dies