Life cover that protects your family and your mortgage.
If you died tomorrow, would your family be able to stay in their home? Life assurance pays a lump sum or clears your mortgage so they do not have to worry about money at the worst possible time. We search the whole market to find you the right policy at the right price.
The right type of life assurance for your situation
There is no single right answer — the best policy depends on what you need it to do. Here are the main types we arrange for clients across London, Romford, Ilford and Essex.
Level term life insurance pays a fixed lump sum if you die during the policy term. The payout stays the same from day one to the last day of the policy. It is ideal if you want to cover both your mortgage and provide an additional lump sum for your family — for example, to replace your income for several years. A couple in their 30s in Romford can often arrange £300,000 of level term cover for under £20 per month.
Decreasing term life insurance has a payout that reduces over time — designed to mirror the outstanding balance of a repayment mortgage. Because the maximum potential payout falls each year, premiums are lower than level term. If the primary purpose of your life cover is to pay off a repayment mortgage, this is typically the most cost-effective solution.
Whole of life policies have no fixed term — they pay out whenever you die, as long as premiums are maintained. The premium is higher, but the payout is guaranteed. Often used for inheritance tax planning or to leave a guaranteed lump sum for dependants. We advise on suitability carefully as these are more complex products.
Writing your life policy in trust means the payout goes directly to your beneficiaries without going through probate. This is faster — sometimes significantly so — and removes the payout from your estate for inheritance tax purposes. We set this up at no extra cost for every life policy we arrange.
What happens to your mortgage if you die without cover?
If you have a mortgage and no life cover, your mortgage lender will continue to expect repayments from your estate. If there is insufficient money in the estate, the property may have to be sold. Your family could lose their home at the worst possible time.
Life assurance is one of the most cost-effective financial products available — particularly for younger buyers in good health. The sooner you arrange it, the lower your premium will be for the life of the policy.
- Your mortgage is paid off — your family keep the home
- A lump sum provides income replacement for your family
- Joint life policies cover both partners — first or second death
- Written in trust — paid directly to beneficiaries, bypassing probate
- Premiums are fixed for the life of the policy — no surprises
- Adding critical illness cover at the same time is often cheaper than later
Life assurance — key facts
What clients typically arrange through us across London and Essex.
Life assurance questions answered honestly
Death in service typically pays 3 to 4 times your salary — which may not be enough to clear your mortgage and provide for your family long-term. It also ends if you change employer. We review your existing cover and advise on whether a personal policy is needed to fill any gap.
The terms are often used interchangeably. Technically, life assurance refers to whole of life policies (which will definitely pay out), while life insurance refers to term policies (which only pay out if you die during the term). In practice, most people use both terms to mean any life cover. We use whichever term applies to the policy type we are discussing.
Yes — many insurers will offer cover with exclusions for pre-existing conditions, or at a higher premium reflecting the additional risk. Some conditions have minimal impact on premiums. We know which insurers are most accommodating for specific health histories and how to present your application to achieve the best outcome.
Joint life policies pay out once — on the first death. After that, the surviving partner has no cover. Individual policies are more expensive initially but provide cover for both lives independently. For couples with children or significant financial commitments, we typically recommend individual policies. We model the cost of both options for your specific situation.
At minimum, enough to pay off your mortgage. Beyond that, it depends on how much income you want to replace for your family and for how long. A common starting point is 10 times annual income. We work through the calculation with you to arrive at a figure that genuinely protects your family's standard of living.
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