Life Assurance

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Life assurance is an insurance policy against your death where money is paid out if you die (or are diagnosed with a terminal illness) which can be used to clear the mortgage debt and/or provide funds for the family towards their living costs.

A policy can be:

  • Level term – where the amount remains constant over time
  • Increasing term – where the amount increases in line with inflation to remain constant in real terms
  • Decreasing term – where the amount decreases in line with the outstanding mortgage balance

It is also possible to take the benefit as an annual income rather than a lump sum – this is known as Family Income Benefit and can provide a more cost effective strategy.

We can advise on the best cover in light of your mortgage/family arrangement and source from a whole range of providers to get the best price.