Do you want to protect your family
for if the worst happens? Could your loved ones financially manage without you? Are you losing sleep over this?
Looking for life insurance can be confusing – and scary. No one wants to spend time thinking about dying or leaving family behind. Although it’s a difficult thing to consider, it’s important you do.
Get help navigating this difficult topic with The Mortgage Way. Our supportive team will help you find the best option, free of charge.
Start sleeping sound by looking after your family, no matter what.
How do I choose the right
life insurance policy?
There are hundreds of authorised life insurance firms in the UK, so we know it can be overwhelming to find the best deal. The cover you choose depends on your situation. Like with all insurance policies, there are many factors to consider.
Sounds complicated? Don’t worry, The Mortgage Way team do the heavy lifting. We can review which type of life insurance is best for your situation. Get the best deals on the market and pay no fees for our service.
Whole of life policies
Whole of life insurance pays out when you die, no matter when that is. It can be the most expensive option because it’s comprehensive.
With whole of life cover, you don’t need to worry about renewing or changing your insurance over time. It’s a guaranteed pay out and gives you peace of mind your family will always be looked after when you’ve gone.
Term
assurance
Often the most affordable option, term life cover comes with a fixed end date, or term. If you are still alive at the end of the policy, nothing happens. Term insurance needs renewing after each fixed period to keep protecting your family.
Within term policies, there are different options –
• Level term life insurance pays out a fixed lump sum. Your family will know what to expect should you die within your policy’s term. It’s one of the simplest types of cover.
• Increasing term life insurance rises each year. The longer you have your policy, the higher the end pay out will be. It’s either a fixed increase or in line with inflation. Handy for people with small children to cover growing family expenses.
• Decreasing term life insurance falls each year. You usually take these policies out to protect your mortgage or other debt, so as you pay this off the cover needed reduces. This is also called mortgage life insurance.
Family income benefit policies
This is a decreasing life insurance that pays out regular support to your loved ones should you die within the policy’s term. The payments are only made until the policy end date. So, for example, if the policy began paying out three years before its end date, your family would receive three years of payments before they stopped.
You can choose how the policy would be paid, and what for. You can cover anything your loved ones need or set it for a specific purpose (such as the mortgage). Choose a one-off lump sum, regular repayments, or add it onto their inheritance.
Joint life insurance policies
You can also decide to get joint life insurance with your partner. As a couple with children and a home, a joint policy would cover both of you if the worst was to happen.
With this type of insurance, once a claim is made the remaining person is no longer covered. It’s a less comprehensive option but comes with smaller monthly payments. Our team will explain the pros and cons of all different cover types with you.
Relax, The Mortgage Way
have you covered
Why choose The Mortgage Way
for life insurance cover?
The Mortgage Way team can relieve your stress and give you everything you need to know about life insurance. Instead of scouring the internet for hours, we get you the best deals available on the market. With flexible appointment times, meet us at a time that suits you.
You can review your overall finances with The Mortgage Way. This includes critical illness cover, home and contents insurance, and mortgage support at every stage. We can support you as your situation changes or your family expands – many of our clients stay with us for life!
Let us review your situation and find you the perfect life insurance, without any upfront costs. Our service is free of charge. Contact us to book your appointment and start protecting your family.