Life Insurance

Life Insurance is a great way to help protect your family from the financial worries they could face if you were no longer around. Life insurance provide a sum of money in the event of death during the term of the policy.
• Covers against: Death
• Type of benefit paid: Lump sum

With a Level Life Insurance policy, the amount of cover (also known as the sum assured) stays the same throughout the length of the policy. The sum assured and the term of the policy are set at the start of the policy. This type of policy is often taken out to provide Family Protection or to help repay a mortgage, typically an interest only mortgage where the amount owed on the mortgage does not decrease over time.

The payments are not subject to income tax (under current legislation, tax year 2019/2020).

The premiums for this policy can be either fixed and guaranteed from the outset, meaning that they won’t change throughout the life of the policy, or they can be reviewable.

If it is appropriate to do so, Hadley-Clarke Mortgages will also advise you on setting the Life Insurance policy up in Trust. There are many benefits to doing this and Hadley-Clarke Mortgages do not charge a fee for this additional service.

A Trust is a document that allows you spell out what you want to happen to proceeds from a policy. Placing a life policy in trust can help make sure the proceeds of your policy are used as you intended. Visit our Trust page to find out more.

Contact us by telephone: 07748 800587, email: advice@hcmortgages.com, or via our contact form.