Mortgage Protection Life Insurance pays out a tax-free cash lump sum should you pass away and is specifically designed to cover mortgage loans.

This type of cover comes in two main forms:

1. Decreasing Mortgage Life Insurance

With a decreasing plan the level of cover declines over time inline with the outstanding balance on your repayment mortgage.

You would typically align the length of cover with the remaining term of your mortgage so if you were to die the Life Insurance would pay out a lump sum equal to the balance outstanding on your repayment mortgage.

Ensuring you have adequate Life Insurance in place means your loved ones can avoid financial difficulty during such tough times and remain in the family home.

As the level of cover declines over time this is the most cost-effective method of gaining cover.

2. Level Term Mortgage Life Insurance?

Level Term policies are most commonly used for family protection or to protect an interest only mortgage. The level of cover remains fixed over the term of the plan, along with the amount of debt outstanding on your loan if you’ve opted for an interest-only mortgage.

Family and Lifestyle Protection

Whatever stage you’re at in your life, what could be more important than protecting yourself and your loved ones.

Family and Lifestyle Protection can be tailor made to secure you and your family’s financial future with a policy designed to pay a lump sum or a regular income on your death or if you are diagnosed with a critical illness.

A Critical Illness policy helps to protect you if you become critically ill with a tax-free lump sum that you can use to help cover health-related costs, monthly expenses, or lost income while you get better. The cover provides peace of mind when you need it the most to minimise the financial impact on you and your family. In the event of being unable to work, with cover in place you can focus on your health and manage your finances.

The exact illnesses covered by critical illness policies vary between providers. As with all insurance policies, terms and conditions, exclusions and limitations will apply.

Family health insurance brings the same private healthcare cover to each member of your family. You pay a monthly subscription that can cover the cost of treatment for acute conditions that develop after your family health insurance policy has begun.

University Fees Insurance is a unique policy that pays university fees should you or your spouse die or suffer a terminal illness.

Although many students work as much as is practicable, parents also try to mitigate their children's growing levels of debt with financial help. So how well would your children cope financially without you if you were to die or become terminally ill?

The University Fees Insurance scheme fills this financial gap for children of members who have died or develop a terminal illness. It provides benefits of £15,000 per year for up to four years whilst the child is at university and £3,000 during a gap year.

University Fees Insurance has been designed to compliment Schools Fees Insurance and if you have been a member of the latter then you can join University Fees Insurance without any additional medical or lifestyle questions/underwriting.

immediate needs annuity

An annuity is a type of insurance policy that provides a regular income in exchange for an upfront lump sum investment.

When they’re used for long-term care, they provide a guaranteed income for life to pay for care costs.

This type of annuity can be known as an:

immediate care plan

immediate needs annuity

immediate need care fee payment plan.