Mortgage Decreasing Life Cover
Mortgage Life Cover is designed to help repay your mortgage if you die during the policy term. The level of cover usually reduces over time in line with your mortgage balance. This makes it a cost‑effective way to ensure your family can remain in their home without the burden of outstanding mortgage debt if the worst happens.
Key purpose: Protecting your home and your family’s financial security.
Level Family Cover
Level Family Cover provides a fixed lump sum payout if you die during the policy term. Unlike mortgage cover, the amount insured does not reduce. It is commonly used to cover family living costs, childcare,
education expenses, or other long‑term
financial commitments.
Key purpose: Creating financial stability for your family if you are no longer there to provide for them.
Family Income Benefit
Family Income Benefit pays a regular monthly or annual income rather than a lump sum if you die during the policy term. Payments continue until the end of the policy term, helping replace lost
income and support everyday household expenses.
Key purpose: Maintaining a family’s lifestyle and ongoing bills if a main earner dies.
Critical Illness Cover (with Life Cover)
This policy pays a tax‑free lump sum if you are diagnosed with a specified serious
illness (such as cancer, heart attack, stroke or multiple sclerosis) or if you die during the term. The pay out can be used for medical costs, mortgage
payments, lifestyle
adjustments, or
recovery time off work.
Key purpose: Providing financial support during serious illness, not just on death.
Income Protection
Income Protection
replaces a percentage of your income if you are unable to work due to illness or injury. Payments usually
continue until you
return to work, retire, or the policy term ends, depending on the cover selected.
Key purpose: Protecting your income and financial independence if you cannot work.
Whole of Life Cover
Whole of Life Cover provides a guaranteed lump sum pay out whenever you die, as long as the policy
remains in place and premiums are maintained. Unlike term
insurance, this policy has no fixed end date, making it suitable for long‑term planning.
It is commonly used to help cover inheritance tax liabilities, funeral costs, or to leave a
financial legacy for loved ones or charitable causes. Premiums are typically higher than term policies, but the certainty of payout
offers long‑term peace of mind.
Key purpose: Providing guaranteed financial support for beneficiaries and estate planning needs.