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Life Insurance can provide your loved ones with financial security if you pass away.

It can help ease the financial pressure of the loss by ensuring that mortgage payments, credit card debts and weekly shopping bills can still be covered.

Make sure your home and family are protected should the worst happen. Our expert advisors are all qualified and can advise you on a range of insurances. Arrange a chat today for a Life Insurance quote tailored to your situation – and get covered for when life throws something unexpected at you.

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Complete our quick form to request a call back.

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Speak with one of our friendly experts to discuss your needs.

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Receive your tailored protection quote.

Step 4

Get insured! Your advisor will take care of the paperwork and keep you updated.

Complete our short form for a call back or call us on 0203 540 5800.

Types of Life Insurance

There’s different types of Life Insurance; they all aim to offer financial protection for when the policy holder dies and offer slightly different types of cover.

  • Level term – The payout and cover with a level term policy stays the same throughout the amount of time you are insured for. Put simply, you decide the amount of cover to take out and that’s what the policy pays. This is often taken out for families, who want to cover for costs such as protecting their families lifestyle or child care costs as well as monthly outgoings such as a mortgage.
  • Decreasing term – This means the cover amount decreases each year to pay off an outstanding mortgage or loan by the end of the term based on an interest rate of 8%. This is because your debt should be decreasing as you repay it over time.
  • Increasing term – Increasing term policies, as the name suggests, increases the payout the longer the policy runs. The cover amount increases each year by 3% and your premiums increase by 3.75% each year to pay for the increased cover and age. The increasing option helps to provide some degree of protection against the risk of inflation.
  • Family Income Benefit – provides a monthly or yearly amount to your dependents in the event of death for the remainder of the policy term. This could be used to cover school fees, for example.
  • Whole of Life Insurance – provides a fixed lump sum that will pay out in the event of death at any stage in your life, so there no policy “term”. It’s designed to cover funeral costs or mitigate against an Inheritance Tax liability.

Did you know…

  • Life Insurance pay outs aren’t taxable – they’re not subject to Income Tax or Capital Gains Tax. The only tax implications of a Life Insurance policy would be an Inheritance Tax liability; however, this is easily avoided by writing your policy into Trust.

Your questions answered

What is Life Insurance?

Life cover pays a cash sum out if you die. Policies are generally designed to help families cope with the financial pressure of losing the household’s main earner. There are many different varieties of life cover including:

  • Cover to last for a defined period or for the rest of your life
  • Cover just for you or for you and your partner
  • Cover that stays at the same level or increases with inflation
  • Cover that pays out as a lump sum or as an income

How much does Life Insurance cost?

Price will vary depending on your circumstances.

These include health, job, the amount of cover you want and sometimes even your hobbies. The Life Insurance policy you buy is there to protect your family and not anyone else’s, so it’s worth finding a policy that will exactly suit your needs.

Who would need Life Insurance and why?

Life insurance can offer a relatively cheap and straightforward way of ensuring that the financial needs of your family or any other dependents are met in the event of your death. There are many examples of when someone may need life insurance, including:

  • Ensuring your children are looked after in the event of your death
  • Couples without dependents but who wish to protect their partner
  • Those who want a policy which will ensure that their funeral costs can be met
  • Those considering retirement
  • Those buying a house
  • Those who experience a change in health circumstances

Is a Life Insurance pay-out taxable?

In short, no. A Life Insurance pay-out will not be subject to Income Tax or Capital Gains Tax. The only tax implications of a life insurance policy would be an Inheritance Tax liability, however, this is easily avoided by writing your policy into Trust.

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