If something happens,
they'll be okay.
Nobody wants to think about this. But if you have a mortgage, children, or anyone who depends on your income, not having life insurance is a risk that's easy to fix, and shouldn't be put off.
The two types that matter most.
- Mortgage protection
If you die during the mortgage term, the policy pays out enough to clear the mortgage entirely. Your family keeps the house, mortgage-free, whatever happens to their income.
- Family income benefit
Instead of a lump sum, this pays a monthly income to your family for a set number of years, effectively your salary, continuing without you. Often more practical than a large lump sum that needs managing.
Why most people are underinsured.
Most people either have no cover at all, or they have whatever the bank bundled with their mortgage. Bank cover is often expensive, limited, and not matched to your actual situation. Proper protection means working out what your family genuinely needs, mortgage clearance, income replacement, something for the unexpected, and finding cover that actually delivers it.
What it actually costs
Non-smoker, age 35, £200,000 life cover for 25 years (matching a typical mortgage term).
Monthly cost: around £15–25.
For the price of a meal out, your family's financial future is protected. The younger and healthier you are when you take it out, the cheaper it stays, permanently.
Term cover vs. whole of life.
Term cover runs for a set period, commonly 25 years to match a mortgage. Cheaper, simpler, and suits the vast majority of people. It pays out if you die during the term.
Whole of life covers you until you die, whenever that is. More expensive, but designed to pay out whenever you die, provided premiums are maintained and the policy terms are met. Usually most relevant for inheritance tax planning or leaving a legacy.
We'll tell you honestly which one fits your situation, and why.
Common questions.
- How much life insurance do I need?
A common starting point is enough to clear the mortgage, plus a multiple of your income if you have dependants. The honest answer comes from your actual numbers, which is a ten-minute conversation.
- Is life insurance expensive?
Usually less than people expect. Healthy non-smokers in their thirties often pay £15 to £25 a month for meaningful cover. Premiums rise with age, so arranging it earlier is cheaper.
- I have death-in-service through work. Is that enough?
It's a good foundation, but it typically pays 2 to 4 times salary and disappears the day you change jobs. If your family relies on more than that, it's risky as your only cover.
- Do I legally need life insurance to get a mortgage?
No, it's not a legal or lender requirement. But if anyone depends on your income to keep the roof over their heads, it's the cheapest way to make sure the mortgage is cleared rather than passed on as a problem.
As with all insurance policies, conditions and exclusions will apply.
Don't leave it for later.
Book a free chat and let's make sure your family is properly protected, it takes less time than you think.
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