Question 1

How much life insurance do I need?

Accepted Answer

There is no single right answer. A common starting point is enough to clear the mortgage and provide an income for your dependants for a number of years. We will talk through your outgoings, debts and dependants to arrive at a figure that fits your circumstances and budget.

Question 2

What is the difference between level and decreasing term cover?

Accepted Answer

Level term cover pays out the same lump sum regardless of when a valid claim is made during the term, which suits family protection or interest-only mortgages. Decreasing term cover reduces over time roughly in line with a repayment mortgage balance and is therefore typically cheaper.

Question 3

Should my policy be written in trust?

Accepted Answer

Writing a policy in trust can mean the payout falls outside your estate for inheritance tax purposes and reaches your chosen beneficiaries faster, without waiting for probate. It is suitable in most family situations. We can arrange this for you when we set the policy up.

Question 4

Will I need a medical?

Accepted Answer

Most applications are accepted on the strength of a health and lifestyle questionnaire. Some applications may require a GP report or a brief medical examination, depending on your age, sum assured and disclosed health information. We will let you know what to expect before you apply.

Question 5

What if my health has changed?

Accepted Answer

It is essential to disclose all relevant medical and lifestyle information accurately on your application. Failing to do so could mean a future claim is declined. The right insurer for your circumstances often depends on the specific condition involved, which is where advice can help.

Question 6

Is life insurance worth it if I am young and healthy?

Accepted Answer

Premiums are typically lower the younger and healthier you are, and cover taken out earlier locks in those rates for the chosen term. Whether it is right for you depends on whether anyone would be financially affected by your death. If the answer is yes, it is worth a conversation.

Question 7

Are the premiums guaranteed?

Accepted Answer

Most policies we recommend have guaranteed premiums, meaning the price you start with is the price you pay throughout the term, regardless of changes to your health. We confirm this with you during our conversations and before application.

Life insurance, explained properly.

Life insurance questions

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