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Life Insurance provides a payout when you pass away, with premiums based on your circumstances and policy type. Each policy is unique.
As mortgage and protection advisors in Coventry, we find that younger and healthier applicants often pay lower premiums. Factors such as lifestyle, age, and medical history affect the cost.
You may choose to receive the payout as regular payments instead of a lump sum. The funds can cover debts, mortgage payments, or childcare costs, ensuring financial support for loved ones.
If you’re concerned about the financial impact on your loved ones after you pass away, getting Life Insurance in Coventry can offer reassurance.
While it’s not a requirement when taking out a mortgage, many people choose to include it as part of their financial planning. The decision is entirely personal and should be based on your circumstances.
Life Insurance provides financial support to your beneficiaries, usually as a lump sum. This can help cover mortgage payments, childcare costs, or household bills, reducing financial stress for your family.
The cost of Life Insurance depends on factors such as your age, medical history, and lifestyle. Generally, younger and healthier individuals benefit from lower premiums.
You can choose to receive the payout as a lump sum or regular payments, depending on what suits your needs.
One key advantage of Life Insurance is the flexibility in how the payout is used. It can help cover mortgage repayments, outstanding debts, or other financial commitments, ensuring your family has financial security.
Life insurance is a vital financial protection that can provide peace of mind for you and your loved ones in case of an unexpected death.
Our experienced insurance and mortgage broker in Coventry can help you select the best policy for your specific needs and circumstances.
Life insurance is recommended whenever you experience a significant change in your life, such as buying a home, starting a family, or getting married.
It’s essential to have protection in place to avoid leaving your loved ones with financial burdens in case of unexpected events.
Your age, health, lifestyle, and the type of policy you choose will influence the cost of your premiums.
Generally, younger and healthier applicants tend to pay lower rates.
Yes, some policies offer the option to receive regular payments instead of a single payout.
Check with your provider to see if this option is available.
You have control over how the payout is allocated. It can be used to cover outstanding debts, mortgage repayments, childcare costs, or any other financial commitments.
Life Insurance is designed to provide financial support for your loved ones, replace lost income, or help clear any outstanding debts in your name.
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Excellent service and guidance all the way through the process. Leo and Lizzi were very helpful in finding me the right product.
5 months ago
Diane
Very professional and kept me informed throughout the process of securing our equity release. I would recommend them especially for those who are a little unsure of how equity release works and if it's right for them
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Diane
Very helpful, easy to get hold of when needed! Able to answer all my questions
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Ajay
Made the process easy and understandable, presented all possible options and advised on what would be best suited for us. Always available to answer any queries or resolve any issues that arise. Would definitely use again in the future.
1 year ago
Luke
Incredibly quick, concise and professional. Regularly kept in he loop and gained all the knowledge required to be able to buy a property. Couldn't of asked for anything more and I can't thank them enough for all the help received.
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Carol
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
1 year ago
Joshua
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
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Really helpful and clear.
2 years ago
Gemma
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
2 years ago
Matthew
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
2 years ago
Susan
Very good service over the moon Wayne and Megan no there stuff
2 years ago
Dean
4 weeks and got my offer very good service from Wayne and Megan can not fault them
2 years ago
Anonymous
Great service
3 years ago
karan
Fantastic service. From start to finish I had everything clearly explained and the broker always had my best interest in mind. I highly recommend for first time buyers!
3 years ago
Anonymous
The service provided is personal and efficient. The team are willing to help and will try hard to meet tough timings to support an application. Would recommend
3 years ago
Thomas
Brilliant! Really helpful, did everything for us, explained the process clearly and made it all so easy! We wouldn't have gotten a mortgage without them!
3 years ago
Joshua
Really friendly advisors who are happy to answer any questions. Leo walked us through the entire process, and was happy to go over things to make sure we fully understood and were happy with everything.
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Manpreet
Helen was really warm and friendly.
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3 years ago
Mark
Charlie was thorough and informative. What we really liked is that he always asked if we understood what he was saying and would ask if we had any questions
3 years ago
Looking for the right insurance products to protect yourself and your family? Our protection and mortgage advisors in Coventry are here to help.
During your initial consultation, we'll discuss your health background and gather relevant information to create a tailored plan that fits your budget.
Our experienced team can search through thousands of insurance products to find the one that best suits your unique needs and financial situation.
We'll work with you to build a personalised plan that meets your available monthly budget.
Once you're satisfied with the product we've recommended, we'll submit your application to the provider.
In some cases, the policy provider may request additional information before accepting the application.
If you originally took out your mortgage with us, we'll also review any policies you currently have in place when you remortgage.
We're here to ensure that you have the right protection in place for your needs. Contact us today to schedule your free consultation.
We offer a complimentary insurance review with one of our protection and insurance specialists in Coventry.
Our team is available seven days a week to ensure we can work around your schedule. You can easily book your free review online or by calling our office.
Having a professional guide you through the process of selecting the right life insurance product can save you from potential problems down the line.
Rather than solely relying on online quotes, speaking with one of our experts in Coventry can help you choose the coverage that best suits your personal and financial needs.
As a mortgage broker in Coventry, we also assist customers in taking out policies alongside their mortgage to ensure they are fully protected.
We offer menu plans, which enable you to take out multiple insurance policies under one plan, making it easier to manage your coverage.
Contact us for a free quote on your insurance menu plan.
Our primary goal is to safeguard your family's financial future by ensuring you have the proper insurance policies in place.
By taking out life insurance in Coventry, you can provide a safety net for your loved ones in the event of your passing.
Level Term Life Insurance is a type of life insurance policy that covers you within a fixed term. If you pass away within the policy’s term, it will pay out, but if you pass away outside of the policy’s term, it will not.
This policy usually runs between 5-25 year terms in 5-year increments and is commonly used to cover a mortgage, where the fixed term runs in line with your mortgage term. If you die within the policy’s fixed term and still have your mortgage to pay off, the policy will pay out.
This means that your remaining mortgage payments will not be left for your family or any other name attached to the mortgage. As insurance specialists in Coventry, we have seen that this type of Life Insurance policy is the most popular and more suited to property owners with repayment mortgages.
Decreasing Life Insurance is a type of life insurance policy that works in the opposite way to Level Term Life Insurance. It still pays out if you pass away during your mortgage term, but the value decreases over time.
It will mirror the outstanding balance remaining on your mortgage, decreasing as the amount owed on your mortgage decreases. People often take out Decreasing Life Insurance in conjunction with other insurance products, as it can work well with Income Protection Insurance in Coventry or Critical Illness Cover in Coventry.
If you want to discuss this with a qualified insurance and mortgage advisor in Coventry, feel free to book a free insurance review online.
Increasing Term Life Insurance is a type of life insurance policy that pays out if you pass away during your mortgage term, but the value increases over time. It will increase by a fixed amount until your policy term ends.
If you pass away after your policy has ended or after you have paid off your mortgage, the policy will not pay out. This policy was introduced to protect the policy’s total value against inflation and is usually in line with the retail price index.
Whole of Life Insurance is a type of life insurance policy that provides the highest level of financial protection for when you pass away.
It works by lasting your whole life, and when you pass away, the policy will always pay out. Due to the fact that this policy will always pay out, the costs per month are a little more than Level Term Life Insurance.
It is essential to keep up-to-date with all of your payments; otherwise, the policy can become void, no matter how long you have been paying it before your missed payments.
If you are in a relationship/married, a Joint Life Insurance policy may be more suitable for you. This policy will pay out if one of you passes away.
Some couples still prefer to take out individual policies because once one of you passes away, the policy pays out and becomes terminated, therefore, it will not pay out again.
If you had two individual policies, each one would pay out. It may seem like a downside if the policy only pays out once, however, if you originally took out the policy to pay off your mortgage, you would still be able to do so as the money will be released after the death of one of the policyholders.
Death in service can be offered to you by your place of employment. Not all companies will offer Death in Service cover as your company is not obligated to provide it. Those who are offered it may receive it as part of their employee benefits package.
Death in Service usually pays out a lump sum of cash to an employee’s family or a person of their choice if they pass away. The lump sum can be up to five times their annual salary. There are no specific limitations on what can be done with the employee’s money. Death in Service has nothing to do with if an employee dies in the workplace.
Generally, single homeowners don’t feel the need to take out Life Insurance. Sometimes, they just forget about it and never take it out, however, this can cause problems in the future if the homeowner passes away without a policy in place to cover their finances.
If you are a single homeowner and don’t have a Life Insurance policy in place, if you pass away and still have remaining mortgage payments, they may still go to your next of kin. This could leave financial stress on your family.
Speak to one of our mortgage protection and insurance specialist in Coventry and find out whether taking out Life Insurance as a single homeowner is the best option for you and your future.
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Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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