Single vs Joint Life Insurance for a Mortgage
A typical joint-life first-death policy covers two people, usually pays once on the first valid death, and then normally ends. Two single policies can leave the survivor with their own remaining cover. Joint first-death cover usually pays once. Dual Life covers both...
Life Insurance for Repayment vs Interest-Only Mortgages
For the broader mortgage protection picture, start with our complete UK guide to mortgage life insurance. The type of mortgage you have can make a significant difference to the life insurance you consider. Repayment and interest-only mortgages leave different...
Mortgage Life Insurance: A Complete UK Guide
A mortgage is likely to be one of the largest financial commitments you ever make. Mortgage life insurance can help provide financial protection if you die before that mortgage has been repaid, giving the people you leave behind money that could be used towards the...
Life Insurance in Trust: How It Works, Probate and Inheritance Tax Explained
Putting a life insurance policy in trust can change who legally controls the policy, who can receive the benefit after your death and whether the payout forms part of your estate. A trust can change who controls a payout. It is not an automatic Inheritance Tax...
Level vs Decreasing Term Life Insurance
Level term life insurance keeps the amount of cover broadly fixed throughout the policy term, while decreasing term life insurance provides an amount of cover that reduces over time. Level term stays the same; decreasing term is designed to reduce and can be used...
How Much Life Insurance Do I Need for My Mortgage?
Your outstanding mortgage balance is a useful starting point when calculating life insurance — but it is not necessarily the amount of cover you actually need. There is no single correct sum assured — start from the outstanding mortgage and other commitments. If you...
How Much Does Mortgage Life Insurance Cost in the UK?
There is no standard price for mortgage life insurance in the UK. Your premium is calculated using information about you, the amount of protection you want, how long you want it for and the type of policy you choose. Price depends on age, health, term, sum assured and...
Do You Need Life Insurance for a Mortgage in the UK?
No — life insurance is not generally a legal requirement for getting a mortgage in the UK. However, that does not necessarily mean you do not need it. Life insurance is not generally a legal requirement for a UK mortgage. Whether life insurance is worth considering...