Life insurance benefits
When it comes to looking after the ones you love, it pays to be prepared for whatever lies ahead.
Life insurance can help support your family in the event of your death, giving you the reassurance that they will be well looked after should the worst happen.
There are many different reasons why people choose to take out life insurance, including:
- To arrange for their mortgage to be paid of in the event of their death
- To replace the main earner’s salary
- To cover school or university fees should the main income earner die
- To provide money for childcare should the main carer die
Need help choosing the right life insurance?
Choosing the level of cover that’s right for you and your family is an important decision. That’s why the experts at Think Insure can guide you through everything you need to know, to decide what cover is right for you. We'll search our panel of leading insurance providers to find the best priced cover to meet your needs.
Level term insurance
Level term insurance can protect your family’s income. It guarantees a lump sum payout should you die during the fixed term covered, giving your family protection against loss of income. You can choose the length of the term and the amount you wish to pay, which is reflected in the size of the payout.
- Your dependants get a fixed payout in the event of your death during the period covered
- You choose the cover amount and the length of the policy
Decreasing term life insurance
Decreasing term life insurance or mortgage term insurance as it is also known, ensures that your dependants will receive a lump sum to help pay off your repayment mortgage should you die. As the name suggests, the amount covered reduces as the amount outstanding on your mortgage reduces, meaning the premiums are often lower than for level term policies.