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Life Insurance Advice in Liverpool

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Life Insurance Advice in Liverpool

Life's unexpected; be prepared. With a multitude of life insurance products, we'll ensure you find a policy that ensures peace of mind for your loved ones.

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How does life insurance in Liverpool work?

Life Insurance, which can also be known as life assurance or life cover, is a type of policy to give your next of kin peace of mind with financial support when you sadly pass away.

All of these policies are designed to pay out a lump sum to the ones you cherish to financially help them deal with everyday money worries i.e. paying off the rest of your mortgage, childcare if you have any children, costs and bills.

If you contemplate taking out Life Insurance in Liverpool, then you will benefit from speaking with one of our protection and mortgage advisors in Liverpool.

We aim to work alongside you to comprehend your current circumstances to try and find you the most suitable insurance deal for you.

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Life Insurance Advice in Liverpool

Do I need life insurance in Liverpool?

If you fit the criteria and want to keep your loved ones financially safe, then you should consider taking out Life Insurance in Liverpool.

This isn’t compulsory, but if you take out a mortgage with a friend or partner, you wouldn’t want to leave them financially struggling with your leftover repayments. This is one of the main reasons why taking out Life Insurance in Liverpool could be essential to you.

Before purchasing a Life Insurance product, we recommend speaking with a qualified protection and advisor in Liverpool, from a mortgage broker in Liverpool.

We will assess your personal and financial situation and work with you to find the most appropriate insurance product for your needs.

When should I get life insurance in Liverpool?

When it comes to important life milestones like buying a home, starting a family, or getting married, life insurance is highly recommended. Establishing this protective shield becomes crucial to ensure that your loved ones are shielded from potential financial burdens if unforeseen circumstances arise.

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Life Insurance FAQs

What is life insurance?

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Life insurance plays a pivotal role in safeguarding your financial well-being, providing peace of mind for you and your loved ones in the face of unexpected events. Our proficient insurance and mortgage broker in Liverpool is well-equipped to guide you in selecting the ideal policy and provide you with expert insurance and mortgage advice in Liverpool that aligns with your unique needs and circumstances.

How does life insurance work in Liverpool?

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The amount of cover you will receive and the premiums you have to pay will depend entirely on your current circumstances and the type of policy you match up to. As each policy is different, we tend to find you would pay a premium to the insurance providers for the duration of your policy.

Our qualified Protection Specialists in Liverpool, tend to see a trend where the younger and healthier you are, the more affordable your quote may be. Your Life Insurance quote will consider the following:

  • Lifestyle
  • Age
  • Medical History

As it’s up to the person who takes out the cover, the cover can either pay out the whole sum insured at once or through regular payments.

The perks of taking out Life Insurance in Liverpool is that you can choose what your payout is used for. For example, you can choose the payout to be used only for debts, such as a mortgage.

The key thing to remember is Life insurance in Liverpool is a policy to provide financial support for family members, replace lost income or pay off any outstanding debts owed in the person’s name.

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Our Simple Step by Step Process

Free 30-Minute Insurance Review

Step 1

Our adept protection and mortgage advisor in Liverpool is readily available to assist you.

During our initial meeting, we will delve into your history and gather pertinent details to create a customised plan that aligns with your financial resources.

We Will Search Through Different Insurance Products

Step 2

With our team, they can search through an extensive array of insurance products, identifying the one that best caters to your distinct requirements and financial circumstances.

Together, we will construct a personalised plan that accommodates your monthly budget constraints.

Submit Your Insurance Application

Step 3

Once you are content with the product we have recommended, we will proceed with submitting your application to the provider. In certain instances, the policy provider may necessitate supplementary information prior to accepting the application.

If you initially secured your mortgage through our services, we will also review any existing policies you currently hold when you undergo the process of remortgaging.

Protecting You and Your Family

Step 4

As your circumstances evolve, the policies you initially acquired when you obtained your mortgage may no longer be optimal for your situation.

Rest assured, our primary objective is to find you the most appropriate protection in place to address your specific needs. Reach out to us today to schedule your consultation.

Reasons to Choose us

Free Protection Review

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If you want to find out more about Life Insurance, take up our free Insurance consultation in Liverpool. We will explain the policies available to you and why they could benefit you and your loved ones.

1000's of Deals

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Our Protection Advisors in Liverpool aim to make sure that you have the most suitable policies in place to allow you to leave your next of kin in the best position possible if you were to sadly pass. This is why taking out any Life Insurance in policy will give you peace of mind and take the financial stress off those you love.

Our Service

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If you are looking for Protection Advice in Liverpool, we are aware of all the different types of coverage and explain to you the benefits of taking our Life Insurance in Liverpool.

7 Days a Week

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As a Mortgage Broker in Liverpool, we’ve found that Life Insurance is typically taken out in conjunction with other policies, depending on your current situation. For more information check out our other insurances pages.

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Finding you the Right Life Insurance Deal in Liverpool

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Different Types of Life Insurance in Liverpool

Level Term Life Insurance

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With Level Term Life Insurance, you will only be covered for a ‘fixed term’ but still, get a payout. This policy only pays out if you pass within your policies term. We tend to find that Level term Life Insurance runs between 5-25 year terms in 5-year increments.

Term Life Insurance is often used to cover mortgage payments. This policy is often a popular choice for those looking for a particular insurance to take out during their mortgage term. Therefore, if you were to pass and still have your mortgage to pay off, the policy will pay out your share of the mortgage and not to any other name attached to the mortgage.

Decreasing Term Life Insurance

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You may be questioning “why would you want to take out a policy that decreases in value?”. You see, this policy targets homeowners with repayment mortgages. This policy is usually taken out to pay off the outstanding mortgage balance should you pass.

The policy’s value mirrors the unpaid balance remaining on your mortgage. As the amount owed on your mortgage decreases, so does the sum insured.

Decreasing Life Insurance is typically taken out alongside other Insurance products depending on current circumstances. Speaking to a Mortgage & Protection Specialist in Liverpool, we can help recommend you the most suitable insurance for your needs.

Increasing Term Life Insurance

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Increasing Term Life Insurance is a type of policy that still payouts if you pass within your fixed term.

The difference with Increasing Term Life Insurance compared to other policies is that the amount that you are covered for increases as your term goes on. It will increase by a fixed amount until your policy term ends.

Increasing Term Life Insurance was introduced to shield the policy’s total value against inflation and is usually in line with the retail price index.

Whole of Life Insurance

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As the name suggests this type of policy covers the whole of your life. When you pass, the policy that you took will payout. You may expect this policy to cost slightly more than a Level Term life Insurance. But you pay that little bit extra to be covered throughout the rest of your life.

make sure you kept up-to-date with your life insurance payments, as this type of insurance is usually used for family protection and part of inheritance tax planning.

Joint Life Insurance

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We tend to find most couples either in a relationship or married take our Joint Life Insurance. This policy will payout in the event of one of you passing. You can choose to have two separate Life Insurance policies instead of one. However, a Join Life Insurance policy is often cheaper than taking out two separate policies.

How the policy works is that if one person passes, the policy pays out, and then ends. This may seem like a downside to the policy, but 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

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Death in Service Life Insurance cover may be an option depending on if you have been offered it by your current place of employment. Your company is not bound to provide Death in Service cover. But we tend to see some do as part of their employee benefits schemes.

Death in Service is paid in a lump sum of cash paid out to an employee’s family or a person of their choice when the policyholder passes. This sum can be up to 5 times their annual salary. There are no specific limitations on what can be done with the employee’s money.

Taking out Life Insurance as a Single Homeowner

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Being a single homeowner doesn’t mean that you should overlook all Life Insurance options. Even if you are currently living on your own without children or a partner. It’s not uncommon for people to forget about Life Insurance.

What you should take into consideration is what could change in the future, and if they do, then Life Insurance could become an essential thing to have.

For more information regarding any policies mentioned above, please get in touch to speak to one of our Mortgage Protection and Insurance Specialist in Liverpool and find which policy is the most suitable for you and your current circumstances.

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Liverpoolmoneyman.com & Liverpoolmoneyman 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: 10 Consort Court, Hull, HU9 1PU.

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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