Life insurance

A lump sum that clears the mortgage

The simplest and cheapest protection there is. If you die during the term, it pays out a lump sum, and your family keeps the house without a monthly payment hanging over them.

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The basics

Two types, and the difference matters

Decreasing term assurance follows the balance of a repayment mortgage down over time. It is the cheapest option and it does exactly one job, which is clearing the debt.

Level term assurance keeps the sum assured flat for the whole term. It costs more, but it leaves something over once the mortgage is cleared, which is usually what people actually want when they have children.

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Getting it right

Four decisions that shape the policy

None of these are complicated, but getting them wrong is expensive and often only discovered at claim.

Level or decreasing

Decreasing tracks a repayment mortgage down. Level stays flat. Interest-only mortgages need level cover, always.

The term

At minimum, the length of the mortgage. Many people run it to the youngest child finishing education instead.

Single or joint

Two single policies usually cost only slightly more than one joint policy, and they pay out twice rather than once.

Written in trust

Costs nothing, takes one form. Usually means faster payment and keeps the money outside your estate for inheritance tax.

Frequently missed

The details people wish they had known

These four come up constantly, and all four are easy to fix at the outset.

Joint policies pay onceA joint policy pays on the first death and then ends. The survivor is left with no cover and is now older, so replacing it costs considerably more.
Trusts are free and fastWithout a trust the payout forms part of your estate and waits for probate, which can take months. In trust it usually pays within weeks.
Mortgage life cover is not the lender's coverYou are never obliged to take the policy your lender offers. You can arrange it anywhere, and usually cheaper.
Stay-at-home parents need cover tooThere is no salary to replace, but there is childcare to fund. The cost of covering it is very real and frequently overlooked.

At a glance

Indicative premiums

Cover	Term	Type	Roughly, non-smoker aged 35
£150,000	25 years	Decreasing	From around £7 a month
£150,000	25 years	Level	From around £12 a month
£250,000	25 years	Decreasing	From around £11 a month
£250,000	25 years	Level	From around £19 a month

How it works

Three steps, no jargon

Step 01

A proper first conversation

Tell us where you are and where you want to get to. We listen first, then set out the realistic options in plain English, including the ones that mean waiting.

Step 02

We search and recommend

We compare the market, run the affordability and stress tests, and bring back the mortgage and protection that genuinely fit. Our reasoning goes to you in writing.

Step 03

We handle the paperwork

From application to completion we deal with the lender, chase the valuation and the solicitors, and keep you posted the whole way through.

Good to know

Frequently asked questions

How much life cover do I need?

The mortgage balance is the floor, not the target. Think about what the household would actually need: the mortgage cleared, childcare covered, and enough breathing room that nobody has to make major decisions in the first year. For many families that is the mortgage plus three to five years of income.

Is life insurance a condition of getting a mortgage?

No. Lenders may strongly encourage it and some will raise it at every opportunity, but it is not a legal requirement and no lender can refuse you a residential mortgage for declining it. You are also free to arrange it with anyone, not just your lender.

What does writing a policy in trust actually do?

It means the payout goes directly to the people you name rather than into your estate. It avoids probate delay, which typically means weeks instead of months, and it usually keeps the money outside your estate for inheritance tax. It costs nothing and takes one form at application.

Will pre-existing conditions stop me getting cover?

Usually not. Most conditions result in either a normal price, a slightly loaded premium or a specific exclusion. Outright decline is uncommon. What does cause problems is not disclosing something, because that is the main reason claims get refused.

Should we take a joint policy or two single ones?

Two single policies in most cases. The extra cost is often only a pound or two a month, and it buys two potential payouts instead of one. It also means the surviving partner keeps their cover rather than having to buy new cover at an older age.

Important. Cover is subject to underwriting, the policy terms and the exclusions that apply. If you stop paying premiums the cover will end.

Let's talk

Get a life cover quote

A short, friendly chat is all it takes to see what you could save. No jargon, no pressure, just clear advice.

Book a callback Call 07788 580 360