Life Cover
A lump sum for your family if you die during the policy — often the foundation of protecting a mortgage.
How it works
We meet to talk through what matters most to you and your family
We tailor a policy that fits your mortgage, your budget and your circumstances
We place it in trust, so the right money reaches the right people at the right time
Life cover (also called life insurance or term assurance) pays out a tax-free lump sum to your family if you die within the length of the policy — known as the "term". You choose the term and the amount of cover when you take out the policy, typically to match your mortgage term and outstanding balance.
Most people buying a home take out "decreasing term" cover, where the payout reduces roughly in line with your mortgage balance as you pay it down — this keeps premiums lower since the cover matches what you actually owe. "Level term" cover instead pays a fixed amount throughout, which suits people who want the payout to also cover other costs, not just clear the mortgage.
Good if you…
- You're taking on a mortgage and want it cleared if you die during the term
- You have a partner, children or other dependants who rely on your income
- You want a straightforward, fixed-cost way to protect your family
- You're comparing decreasing vs level term cover for a new or existing mortgage
Typically covers
- A tax-free lump sum, paid to the legal owner of the policy, your trustees if it's written in trust, or your estate's personal representative
- Cover that can be written in trust, so it pays out quickly and outside of your estate
- Joint or single life options, depending on your household
- Guaranteed or reviewable premiums, depending on the policy you choose
Worth knowing
- Life cover has no cash-in value if you don't claim — it's pure protection, not a savings product
- Premiums are generally lower the younger and healthier you are when you apply
- Cover ends at the end of the term even if you haven't claimed, so it's worth reviewing alongside any remortgage
- Most insurers ask health and lifestyle questions, and some conditions may affect price or cover
Common questions
No — life cover only pays out on death during the policy term. Critical illness cover pays out on diagnosis of a specified serious illness, while you're still alive. Many people take out both together, often on the same policy.
Want to talk through life cover?
We'll talk through your circumstances and only ever recommend cover that genuinely fits — no pressure, no jargon.
This page is for general information only and doesn't constitute personal advice or a recommendation. Whether a particular type of cover is right for you — and how much — depends on your individual circumstances. We'll only ever recommend cover after a full conversation about your situation.
Other cover to consider
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