Who would need support if you were no longer here?
Start with the people and commitments that matter to you: a partner, children, a mortgage or the day-to-day running of your home. Life insurance is designed to pay a benefit on the insured person’s death while cover is in force, provided the claim meets the policy terms.
Choosing the amount and length of cover
Term insurance covers an agreed period. Level cover keeps the insured amount the same during that term; decreasing cover reduces it over time and is often considered alongside a repayment mortgage. The right arrangement depends on the need being discussed.
- The mortgage balance, remaining term and other debts.
- Household costs, dependants and how long support may be needed.
- Existing insurance, employer death-in-service benefits and savings.
- An affordable premium and any changes to benefits or costs over time.
Understand what the policy does
Check who is insured, when cover starts and ends, exclusions and how a claim is paid. A life policy is different from cover for illness or inability to work. Some policies include terminal illness benefits, but the definition and conditions must be checked.
Before changing existing cover
A lower premium alone does not show that a replacement is suitable. New underwriting or terms may differ. Keep existing cover in place until you understand the consequences and any replacement is arranged.
General information, not a personal recommendation. Cover, premiums and claims depend on insurer assessment, policy terms, limitations and exclusions.