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Life Cover
Safeguard your loved ones during uncertain times. Connect with our expert advisors to explore the best ways to secure your family’s future in the event of the unexpected.
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What is Life Cover?
Life is full of uncertainties, and life cover insurance is designed to provide financial security for your family if the unexpected occurs. It’s a specialised type of insurance that pays off your remaining mortgage balance in the event of your death.
This ensures your loved ones can keep the family home without the burden of outstanding mortgage debt, offering peace of mind during a challenging time. There are two main types to consider:
Types Of Insurances
Level Term Life Insurance:
Provides coverage for a fixed term, typically 10, 15, or 25 years, paying out a lump sum if you pass away within the policy period.
Decreasing Term Life Insurance:
Designed to align with a repayment mortgage, the payout decreases over time as your mortgage balance reduces.
How does Alexanders FA work?
At Alexanders FA, we simplify the home-buying process with expert guidance, ensuring you receive professional support every step of the way.
As an award-winning broker, we offer free mortgage and protection advice tailored to both first-time buyers and seasoned investors. Trust Alexanders FA for a smooth, stress-free home-buying experience.
1
Free Initial Consultation
We’ll review your current circumstances and property goals, evaluating your borrowing capacity to help identify the most suitable mortgage lenders.
2
Agreement in Principle (AIP)
An AIP provides an estimate of your borrowing power. With this in hand, you can confidently explore properties within your budget and make informed offers.
3
Personalised Mortgage Guidance
After your offer is accepted, we recommend the most suitable lenders and mortgage products. We manage every detail of your mortgage application to ensure a seamless experience.
Why Do I Need Life Cover?
At Alexanders FA, we simplify the home-buying process with expert guidance, ensuring you receive professional support every step of the way. While life insurance isn’t a legal requirement for your mortgage, it’s a smart and considerate way to protect your family’s future.
Here’s why it matters:
Financial Security:
Shields your family or co-borrowers from the burden of mortgage debt, helping them retain the family home without added financial stress.
Support for Joint Mortgages:
If you have a mortgage with a partner, life insurance ensures the surviving partner isn’t left to manage the full mortgage repayments alone.
Protection for Investment Properties:
If you own rental or investment properties, life insurance can cover outstanding mortgage payments in your absence.
Selecting the right mortgage life insurance can feel overwhelming, especially for first-time buyers or those new to life cover. Speaking with a specialist at Alexanders FA can help you find a policy tailored to your needs, offering the right protection for your family and investments.
FAQ: Life Insurance
The answers to your questions.
What does life insurance cover?
Life insurance offers a lump sum payment to your chosen beneficiaries in the event of your death or, in some cases, if you’re diagnosed with a terminal illness. This payment can be used to help cover the mortgage or other financial obligations of the policyholder.
How much life insurance cover do I need?
The amount of life insurance you need will vary depending on your individual circumstances. A common guideline is to aim for coverage that is 10–12 times your annual income, which can help support your family’s lifestyle. One of our advisors can assist in finding a policy that suits your budget and personal needs.
What is life cover?
Life cover, also known as life insurance, provides financial protection and support to your family in the event of your death. It ensures they are financially secure by offering a lump sum payout to help cover expenses such as bills, mortgages, and other financial needs.
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We wouldn’t be where we are without our incredible clients. We take pride in building genuine, one-on-one relationships, offering tailored mortgage advice that suits each individual’s needs.
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