Plain-English help
Understand costs, cover types, underwriting and trusts before deciding what to do next.
What would happen to your bills if you were too ill or injured to work for six months? You might have savings, sick pay or family income to help. But if those wouldn’t cover everything, income protection insurance is one way to consider protecting a portion of your earnings. Income protection isn’t designed to pay […]
Decreasing term life insurance reduces under a set schedule during the policy term. It is often considered for a repayment mortgage, but the policy does not automatically track every change to the actual loan. Check the reduction assumptions The starting benefit, policy duration and assumed interest basis should be compared with the borrowing. Mortgage interest […]
A joint first-death life policy usually covers two people and pays once on the first insured death, after which that cover ends. Two single-life policies can have different claim and ownership outcomes. Compare potential benefits, not just premiums For example, a joint policy with £250,000 first-death cover normally provides one £250,000 benefit. Two separate £250,000 […]
Life insurance policies can contain a suicide exclusion for an initial period. Its length, scope and treatment of policy changes depend on the contract; there is no safe universal promise covering every policy. Read the exact exclusion Check the policy document and schedule for the relevant period, when it starts and which events it applies […]
For parents, life insurance is about the financial gap a death would leave: mortgage payments, household spending, childcare and future commitments. The right amount is different for each family. Include unpaid caring work A parent who is not earning may still provide childcare, school runs and other support that would be costly to replace. Calculate […]
Private medical insurance over 65 can help meet eligible private treatment costs under the policy. It is different from life insurance and does not cover every medical condition or replace all NHS services. What to compare Look at inpatient and outpatient benefits, diagnostic tests, cancer cover, mental health benefits, hospital lists, excesses and claim limits. […]
Affordable cover should fit a defined need and remain manageable over its whole term. A low starting premium is useful only if the policy provides the protection you intended. Start with the most important commitment Separate a mortgage balance from ongoing family spending and other debts. If the full amount feels unaffordable, discuss priorities and […]
Income protection for illness or injury is different from cover for involuntary redundancy. The claim trigger, exclusions, payment duration and eligibility need checking separately. What the policy is designed to pay Redundancy cover, where available, can exclude known or impending unemployment, voluntary redundancy and certain employment arrangements. Do not assume it can be taken out […]
A medical condition does not automatically prevent you obtaining life insurance. What matters is the insurer’s assessment of the diagnosis, treatment, current health and cover requested. Prepare the right details Have the diagnosis date, medication, treatment, hospital follow-up and relevant recent results available. Answer the questions asked, including investigations still underway. If you are unsure […]
Putting life insurance in trust means arranging for trustees to hold the relevant rights under a policy for beneficiaries, under a trust deed. A suitable arrangement can help clarify who should receive the death benefit and may make it easier for trustees to claim without waiting for probate of the policyholder’s estate. It is not […]
Life insurance covers the events described in the contract, usually an insured death while cover remains in force. It is not a general guarantee to pay for every illness or financial difficulty. The main consideration Term policies have a chosen end date and typically no surrender value. Whole-of-life products have different guarantees, review rules and […]
Level term and decreasing term insurance serve different purposes. Level cover keeps the insured amount fixed; decreasing cover reduces according to the policy’s schedule. The main consideration Decreasing cover can be considered for repayment borrowing, subject to the policy’s interest assumptions and reduction schedule. Level cover may suit a fixed family benefit or interest-only borrowing. […]
