Life Insurance Information

Why do I need Life Insurance cover?

In most cases mortgage lenders will ask for some kind of life insurance cover to help family, or dependants meet mortgage payments if the principal income provider dies unexpectedly, or for some reason is no longer able to make the payments. Although life insurance has been formulated to provide a lump-sum payment upon the death of the policyholder, it can have more far-reaching value and protection than for just simply paying off a mortgage.

Other policies have been designed to provide cover for a range of unexpected incidents such as critical illness, which may not necessarily, result in death but render the policy holder and principal earner unable to provide for their dependants and family - perhaps due to life-changing surgery, or other circumstances. The money from a critical illness policy could pay for any necessary adaptations needed within the home, training costs for a different vocation, or to re-pay a mortgage.

There are a huge variety of options to choose from now, with life insurance policies varying from company to company. A good scheme should do more than just provide in the event of lost income if the principal earner dies. It should also provide funding to cover other short-term costs, such as taxes and funeral expenses and long-tern costs, including a child's university education or a partner's needs after retirement.

Seeking out the right policy for your requirements is all-important and we can help you do it. We can provide a value-added service by pinning down policies, which serve both your individual needs and financial resources from many of the big name providers in the business.

Click here for quote