Protecting Your Family

Life Insurance

To decide if you need life insurance, think about what you pay for and how it would affect your loved ones if you weren’t around.

If your expenses wouldn’t be covered by income, investments, savings, a pension, things you can sell, or a death in service benefit from your job, you might want to think about getting life insurance.

How it Works

Lump Sum Payment

Life insurance works by providing your beneficiaries with a death benefit payout if you die, but only if your policy is in-force when you pass away—meaning you have paid the required premiums while you’re alive. The death benefit can be used for any purpose your beneficiaries choose.

What can it be used for?

The lump sum payment may be used to make sure that those you leave behind are financially comfortable and don’t need to cut back on everyday expenses. Your surviving partner may decide to cut back on work and spend more time with the children or family.

Is it the same as Mortgage Protection?

No its not! Mortgage protection policies are paid to your Lender in the event of your death to pay off the outstanding amount of your mortgage.

Whilst your surviving partner is not burdened with mortgage payments, it does not provide a lump sum to deal with other expenses or maintaining family lifestyles.