Call us on: 0845 4594490
Email: mail@rightmortgageadvice.co.uk
Call us on: 0845 4594490
Email: mail@rightmortgageadvice.co.uk
Get free life insurance quotes quotes from upto 18 insurers today. We offer a standard discount of 40% of our commission on all life insurance Quotes making us one the of the best sources for cheap life insurance.
For more information on the different uses of life insurance and the various types of product available see our guide to life insurance explained below.
We treat all the information provided by you with the utmost care and security. Any details you give will remain confidential and will only be disclosed at or with your consent, where we are legally obliged to do so or where we have a duty to the public to disclose that information.
The information collected by us will be used for the purposes of processing and to communicate to you information about other products and services. We will discuss your needs and circumstances and produce free illustrations for any suitable income protection insurance quotes as well as providing income protection insurance advice.
If you do not consent to your details being used in this way please email mail@rightmortgageadvice.co.uk
Once you have received your life insurance quote, if it is something you would like to arrange we will discuss your circumstances to ensure the policy will meet your requirements.
If however you are unsure as to what type of cover you should have, and need specific advice about the types of life insurance available just fill in the mortgage broker call back form on the left and one of our advisors will call you to discuss. Alternatively call us on 0845 4594490.
Life Insurance can be used to pay off your Mortgage in the event of you or your partner passing away but it can also be used to provide a cash lump sum for funeral expenses or your children's education, or to pay for an expected inheritance tax liability for your family.
Other types of life policy will provide a long term replacement of your income in the event of the life assured passing away to support the surviving family. This is known as family income benefit.
There are many scenario's where life insurance and assurance can be used as part of effective financial planning as well as just providing cover for your mortgage.
Life Insurance can be arranged on your own life, or for any person whom you have an assurable interest in. This could include a spouse or business partner for example, but would not include someone who you do not have a legal financial connection to (like your next door neighbour).
Different types of life insurance
There are many options available with modern life assurance. Firstly life cover can be arranged to decrease in line with your mortgage (often referred to as mortgage protection or decreasing term assurance) and this will usually be with a guarantee to repay the mortgage in the event of death if interest rates on the mortgage remain under 10%. This type of cover would be suitable for those on a repayment mortgage scheme.
It can also be arranged to provide a level amount of cover (known as Level Term Assurance) which could be used to protect an interest only mortgage, as the mortgage balance will remain level or it could be used to provide an extra surplus on death. These two types of cover could be used in conjunction i.e. with a decreasing term to cover a mortgage and a level policy to provide a lump sum towards funeral expenses and the like.
You have the choice of a single life basis or a joint basis (for example man and wife) and to pay a benefit on the first death or the second. Typically it is arranged on the first death/event basis but the second death/event option can be used in inheritance tax planning or for example to pay for funeral expenses or as a gift to your children.
We treat all the information provided by you with the utmost care and security. Any details you give will remain confidential and will only be disclosed at or with your consent, where we are legally obliged to do so or where we have a duty to the public to disclose that information.
The information collected by us will be used for the purposes of processing and to communicate to you information about other products and services. We will discuss your needs and circumstances and produce free illustrations for any suitable life insurance quotes as well as providing life insurance advice.
If you do not consent to your details being used in this way please email mail@rightmortgageadvice.co.uk
Join Our Mailing List
Mortgage Broker Call Back