Life Insurance
Can you ensure your family’s financial security in your absence?

Research shows 40% of homeowners with children lack life insurance. While you may already pay for other insurance policies, life insurance is essential. In 2022, UK policies paid out over £4.64 billion, demonstrating their value in securing your loved ones’ future.
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Why Life Insurance?​

Beyond the 38% who purchase policies out of caution, many step forward when they embrace parenthood, keen to secure their child’s prospects.
Others are prompted by the need to safeguard their household’s financial stability, especially when securing a mortgage.  

These motivations highlight life insurance’s pivotal role in ensuring the well-being of loved ones under various life circumstances.
How does life insurance work?​
One of the most frequently searched questions about life insurance is: What is life insurance about?
Well, as the name suggests, life insurance is a policy that covers you financially in the event of your death.
When you decide to take out a life insurance policy, you choose who will benefit and whether the support provided comes as a lump sum for large debts or ongoing support for everyday needs. This decision requires you to make an informed choice that aligns with your family’s needs and your long-term financial plans.

Types of Life Insurance​

Unpacking life insurance options is straightforward:
  • Term Life Insurance: Ideal for covering a specific period, like a mortgage term or until your children reach financial independence.
  • Whole of Life Insurance: Provides lifelong coverage, ensuring financial support for your beneficiaries no matter when you pass away. Great for legacy planning.
  • Decreasing, Level, and Increasing Policies: Tailored to fit changing financial needs, whether covering a diminishing debt or ensuring stability against inflation.
Each type serves a unique purpose. Choosing the right one helps reduce stress, allowing you to focus on what matters most.

How Much Does it Cost to Insure a Life?

Curious about life insurance costs? Premiums depend on factors like age, health, lifestyle, and policy length. Surprisingly, life insurance can be affordable, with options to fit nearly any budget.

Here’s how costs are shaped:
  • Age and Health: Younger, healthier individuals generally pay lower premiums.
  • Lifestyle Choices: Habits like smoking or risky activities can raise costs.
  • Policy Length and Amount: Longer terms and higher coverage typically cost more but offer greater peace of mind.
Considering these factors helps you find the right balance between cost and coverage, ensuring good value without compromising protection.

Do You Need Life Insurance for a Mortgage?

While not legally required, life insurance is often recommended when you take out a mortgage. It ensures your mortgage can be paid off if you pass away, protecting your loved ones from financial hardship or losing their home. Though optional, life insurance offers financial security, peace of mind, and is a smart choice for safeguarding your home and family.

How to Choose Your Policy

Choosing the right life insurance doesn’t have to be daunting. Focus on what you want to protect — immediate debts or long-term family security.

Here’s how to decide:
  • Assess Your Needs: Consider your financial obligations and how your family would manage without your income.
  • Compare Options: Use comparison sites or consult brokers like Secure Mortgages and Protection.
  • Seek Professional Advice: A financial adviser can help match a policy to your goals.
Carefully consider these factors to choose a policy that meets your financial goals and ensures your family’s security. redundancy. For redundancy coverage, you’ll need a separate policy.
Common Questions About Life Insurance
Term life insurance provides coverage for a specific period, ideal if you’re covering temporary risks like a mortgage. Whole life insurance covers you indefinitely, ensuring that your beneficiaries receive a payout no matter when you pass away.
Yes, it’s possible to have more than one policy. This can be useful if you have varying needs over time, such as additional temporary coverage due to financial changes.
Regardless of your age, you certainly need to consider life insurance. A lump sum payment on death can pay off your mortgage, easing the financial drain on those left behind.
In most cases, life insurance payouts are not subject to income tax, making them a financially efficient way to provide for your family.
Taking the Next Step​

Get a Free Quote: Provide basic info for a personalised, no-obligation quote.


Speak to an Advisor: Our experts offer tailored advice, guiding you through
your options.


Review Regularly: Ensure your policy remains suitable with regular reviews as your life changes.

Our dedicated team of expert brokers are on hand to help you find the best term life insurance for you and your family. Connect with us below to get all the information you need to make an informed decision regarding your term life insurance.
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  • enquiries@securemp.co.uk
  • Secure Mortgages and Protection Ltd. Suite G.04 The Greenlaw Works Greenlaw Way Newton Mearns Glasgow G77 6EF

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