Life Insurance
Provide financial stability for your family after your death
If you want to protect your family’s financial future, life insurance is a good place to start. Most of us don’t want to think about death or plan for it financially. However, making plans now could significantly improve your family’s life when you’re no longer there to support them. Life insurance could give your family financial stability at a profoundly upsetting and unsettling time.
Finding the right life insurance
Life insurance can be uncomfortable to consider, so it helps to use a broker to advise you. We can help you determine your priorities and find a policy that matches your needs. When reviewing your options, we’ll consider your family’s financial needs and any existing cover.
If you already have life insurance but are taking out a new mortgage, increasing your borrowing, or have had a change in family circumstances, you should review your policy. Your existing cover might be insufficient for your new financial and personal situation.
With your life insurance sorted, you can focus on enjoying life, knowing your family will be financially secure if the worst happens.
Get in touch for an initial free, no-obligation chat with an adviser about the most suitable life insurance option for you.
Life Insurance FAQs
What is life insurance?
A life insurance policy pays your beneficiaries a lump sum (a death benefit) when you die. There are two main types of life assurance policies: term assurance and whole-of-life assurance. Term assurance only covers a specific period, whereas whole-of-life assurance provides a lump sum whenever death occurs.
Term assurance often covers a fixed-term financial liability, such as a mortgage. You can opt for a decreasing term, where the amount you are covered for decreases over the policy term, or a level term, which pays a lump sum regardless of how long the policy has left.
Why do I need life insurance?
Life insurance provides financial protection for your loved ones if you die. Life insurance ensures your beneficiaries have one less thing to worry about when you can no longer support them.
The insurance payout can help cover expenses such as funeral and burial costs, outstanding debts (your mortgage, for example), and daily living expenses for your dependents.
How much life insurance do I need?
The amount of life insurance you need will depend on various factors, including your income and how much of it you want to replace for your family, your outstanding debts, and the future financial needs of your dependents. Your financial adviser can help you determine the right level of cover.
How are life insurance premiums calculated?
Life insurance premiums are based on several factors, including age, health, occupation, hobbies, the coverage amount, and the type of policy. Younger and healthier individuals with low-risk occupations and hobbies will pay the lowest premiums. Higher death benefits and whole-of-life insurance generally have higher premiums.
