Life insurance isn’t a requirement, however if you have dependants such as a spouse or children, who rely on you financially, a life insurance policy provides peace of mind that they would be looked after should the worst happen to you.
What is Mortgage decreasing term insurance?
This pays out to cover your mortgage if you die within a set term. As your mortgage debt decreases over time, the amount covered by your policy decreases.
Do I need a separate insurance plan if I have a mortgage?
If you already have insurance in place through your work or through another policy which covers your mortgage debt and any additional lump sum for spending or other debts, there may not be a need to take an additional policy linked to the mortgage. However, everyone’s situation is unique so it’s worth reviewing this with a qualified adviser.
What is Level Term Insurance?
This is the simplest form of life insurance. Your dependant will receive a set amount if you were to die within a certain time period. Whereas with decreasing term insurance, the amount your dependant receives decreases over time.
Talk To An Adviser
You can reach us directly by calling us between the hours of 8:30am and 5pm at each of our respective offices and we will immediately assist you.
Skybound Wealth Management Limited FF2, MBP3, Meadowhall Business Park, Carbrook Hall Road, Sheffield, S9 2EQ
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