Life Insurance Advice

The purpose of life insurance is to pay out, typically in a lump sum, in the event of death. Regarding your mortgage, the sum assured should be enough to pay off the remaining balance that is outstanding.

Reviews IO Logo

Read our 280 Reviews

Reviews Logo

How does life insurance work?

Life Insurance is a form of policy that covers their next of kin with much needed financial support if you were to die. There are a variety of life insurance policy types out there. Most of them are designed to pay out as a lump sum to your loved ones, helping them with financial concerns such as mortgage payments, childcare costs and other regular bills.

If you are considering taking out life insurance, we would advise that you speak with one of our dedicated mortgage & protection advisors. They will be by your side during the process, helping you to understand your personal situation and finding the best protection policy for you and your family.

Get Started
Video BG One Video BG Two
Service Icon

Do I need life insurance?

Anyone concerned with what could be left behind financially, after their untimely passing, should look at their options for life insurance. Life insurance coverage is not mandatory either in general, nor for your mortgage, but can be a lifeline in unfortunate circumstances.

Think of the hypotheticals, if you live with a partner or friend, you wouldn't want them to be left financially struggling with potential credit you have left behind. This is one of the many circumstances where life insurance could be truly useful in your future.

As providers of expert life insurance advice, we would definitely recommend that single homeowners still look at taking out their own life insurance policy.

Apply Now

Life Insurance FAQs

What is life insurance?

Accorion Arrow

Life insurance is a type of financial cover that is taken out from an insurance provider. Providing that you maintain your monthly payments and can meet the terms and conditions that were agreed to when the policy was taken out, a lump sum is paid out to your estate in the event of your death.

When should I get life insurance?

Accorion Arrow

As an open & honest insurance and mortgage broker, we firmly feel like life insurance should be taken out at the same point as a significant change in your life, such as when you take out a mortgage, when a child is born or when you have gotten married.

You can never truly predict what is going to happen in the future and in the event of you passing away, the last thing you want your family or loved ones to be left with, is sudden financial hardship that is caused by your existing financial commitments.

At the end of the day, much of that debt will still be owed to the creditors, legally. Life insurance makes sure that no matter what happens, your family are protected from these circumstances.

How does the process work for life insurance?

Accorion Arrow

The amount of coverage you are able to receive and the premiums you will end up paying, are entirely dependant on your personal circumstances and the policy you agree to, as all of the policies will be different. As a typical rule, you would be paying a premium to your insurance providers.

As qualified and experienced protection specialists in Middlesbrough, we often find that the younger and healthier you are, the cheaper your quote could end up being. Your Life Insurance quote will consider a variety of factors, such as your lifestyle, age, and medical history.

In the event that a claim were to be made, the coverage can either pay the entire amount insured in one big lump sum payment, or through regular payments to your family, depending on what you agree to when your policy is being decided.

The handy thing about taking out any type of life insurance is that you are able to decide on what that payout is used for. You decide on specific details yourself, such as if you want your payout to cover mortgage debts specifically.

Remember, life insurance is a type of policy that exists to provide financial support for family members, replacing any of their lost income or pay off any of your outstanding debts, so that your family doesn't have to.

8 Reasons to Choose UK Moneyman

Open 7 days a week until late.

We're flexible around your work and family, we'll be there when you need us.

Mortgage appointment at no cost to you!

No upfront fees payable, we are paid on results only.

You'll get your own dedicated case manager.

You'll always know who you are dealing with.

We're on your side, we work for you.

Getting your first mortgage can be a daunting experience. We’ll hold your hand all throughout the process.

Jargon-free insurance advice.

We'll recommend appropriate insurance products to ensure you can stay in your home, should you become seriously ill or unable to work.

1000s of potential options.

We shop around for the cheapest deal for you, saving you time and money.

We're experienced and knowledgeable.

There isn't a situation we haven't come across before, we fully understand your needs.

Your mortgage advisor will be with you every step of the way.

We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.

Our Customers Love Us

Reviews Stars4.97 Rating280 Reviews

We search 1000s of mortgage deals

Accord Mortgages
Aldermore Mortgage Lender
Beverley Building Society
Bluestone Mortgage Advice
BM Solutions Mortgages
Chorley Building Society
Coventry Building Society
Darlington Building Society
The Family Building Society
Fleet Mortgages
Foundation Home Loans & Mortgages
Halifax Mortgage Advice
HSBC Mortgage Advisors
Kensington Mortgages
Kent Reliance Property Loans & Mortgages
Keystone Property Finance & Mortgages
Leeds Building Society
The Mortgage Works
The Mortgage Lender
Nationwide Building Society
Natwest Mortgage Advice
Newcastle Building Society
Paragon Mortgages
Pepper Money
Precise Mortgages
Principality Building Society
Santander Mortgages
Mortgage Advice - Mortgage Broker
Scottish Widows Mortgages
Skipton Building Society
Teachers Building Society
Together Mortgages
TSB Mortgages
Pepper Money
Virgin Money & Mortgages
Vida Homeloans & Mortgages

UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

Equity Release Council LogoSolla Later Life Logo

Tools & Guides

UK Moneyman Accord Arrow
Facebook Image Twitter Image Instagram Image YouTube Image LinkedIn Image SpotifyImage
Enquire Online Enquire Online
We use cookies to enhance your customer experience. More detailsGot It