It's Free to Speak to an Advisor, 7 days, 8am - 10pm
It's Free to Speak to an Advisor, 7 days, 8am - 10pm
Life insurance is an agreement between an individual, known as the policyholder. In this arrangement, the policyholder pays regular premiums to the insurer, and in return, the insurer provides a lump-sum payment, to the designated beneficiaries upon the death of the insured person. The purpose of life insurance is to offer financial protection to the policyholder’s beneficiaries, helping them cover expenses such as funeral costs, mortgage payments, and other financial obligations.
Our team of protection and mortgage advisors in Halifax are ready 7 days a week to discuss the particulars with you and assist in identifying the most suitable insurance arrangement for your unique personal and financial circumstances.
Life insurance operates by the policyholder entering into a contract with an insurance company. The policyholder makes periodic premium payments, ensuring that the policy remains active. The coverage period can be for a specified term or for the entire life of the insured person, depending on the type of policy chosen. In the event of the insured person’s death during the coverage period, the insurance company pays out a tax-free death benefit to the beneficiaries named by the policyholder. There are various types of life insurance, including term life insurance, which covers a specific term, and permanent life insurance, which provides lifelong coverage and includes a cash value.
The necessity for life insurance hinges on individual circumstances and financial objectives. If you have dependents, such as a spouse or children, who rely on your financial support, life insurance can serve as a financial safety net. It can help cover expenses like mortgage payments and provide income replacement for your family in the event of your death. Additionally, if you have outstanding debts, life insurance can ensure that those financial obligations are met, easing the burden on your family.
Life insurance, is crucial during major milestones because it provides financial security and peace of mind. In the event of the policyholder’s death, the life insurance payout can be used to cover the outstanding mortgage, ensuring that loved ones are not burdened with the financial responsibility of the home. This protection is especially important when considering the substantial financial commitment associated with homeownership, as it shields the family from potential foreclosure or forced sale due to the loss of the primary breadwinner.
Several factors come into play when determining the initial life insurance quote. These factors include the individual’s age, health condition, lifestyle, occupation, and the desired coverage amount. Younger, healthier individuals typically receive lower quotes, as they present lower risks to the insurer. Additionally, lifestyle choices such as smoking and engaging in high-risk activities could impact the premium.
Our Customers Love Us
4.97 Rating347 Reviews
Anita
Excellent service and the advice and help we've received was also.
3 days ago
Giovanni
Amazing service . 1st class and beyond . Thanks to Matt and Lizzie for navigating me through a quite complex application to achieve desired outcome
4 days ago
Claire
We would use UK Moneyman again, very good with communication and would recommend them to family and friends. They managed to get us a mortgage offer even though we had more 'complex' circumstances than the average lender. Very happy.
1 week ago
Katerina
Very helpful, kept me informed and no ‘hard sell’.
1 week ago
Mrs Angela
Very pleased with the service Matt came back with a offer the following day made it a easy process for me
2 weeks ago
Abby
Amazing service! Helpful advice and support from a brilliant team - always provided thorough and timely support and answers to any and all queries around property purchasing process via phone calls, messaging and e mail. Cannot recommend their...
3 weeks ago
Rachel
Excellent service!! Would definitely use again, the whole process has been stress free. Thank you!
3 weeks ago
Jessica
Made us feel so at ease throughout this process and kept me informed and updated during the mortgage application. From start to finish, our options were laid out and Jason always found the best options to suit us and ensured that the product would...
3 weeks ago
Peter
Fantastic service from Matt Collinson and Amy kerwick could not rate the service I received highly enough
4 weeks ago
Nathan
Tom and Paula was brilliant at arrange a new moetgage for me. 5 stars
4 weeks ago
Anonymous
Very happy with the service I received. The advice was thorough and comprehensive, all my questions were answered. Everything went through to completion very quickly. Would definitely use again and recommend.
1 month ago
Anonymous
Cannot recommend them high enough. Dan was excellent and took time to explain the full process. Will use again in the future. Many thanks.
1 month ago
Miss
Dinah has been nothing but incredible! I am so glad that I stumbled across UK Moneyman and that Dinah became our desginated Mortgage Advisor. Her expertise are second to none, she is unbelievably efficient and always keeps to her words. Every...
1 month ago
Anonymous
Speedy process, took the stress out of searching for mortgages - highly recommended!
1 month ago
Ann
Excellent help and advice. No jargon Easy to understand information. Very friendly and understanding when asked multiple questions. Made the mortgage process almost painless. Highly recommended.
1 month ago
Miss
Leo was fantastic! He was helpful, honest and nothing was too much trouble. The process was simple and the admin team keep you updated throughout. Can’t recommend them enough. Please ask for Leo!!!!
1 month ago
Nastaran
Leo was helpful beyond words. He was so patient, and stayed with me through the panics, the doubts and even a couple of times of me giving up when all else fails! No single question was too big or trivial for him, and he explained everything with...
2 months ago
Rachael
Quick efficient service, sort everything out for you takes all of the stress out of finding your financial services. Would certainly recommend
2 months ago
Anonymous
I have used UK Moneyman twice, once for a regular mortgage and second for a buy to let. Wayne is extremely knowledgeable and supportive through the whole process. He’s personable and takes the time to really understand your needs and get the...
2 months ago
Bano
A MUST HAVE! As a first time buyer you see so much online and you do not know what to believe but the way Malcolm and Meghan have attend to our every question, gone above and beyond for us I will be eternally grateful. We could not give this service...
2 months ago
During your free insurance review, we will explore your background and gather pertinent information to tailor a customised plan that aligns with your financial capabilities.
Our team will navigate through a comprehensive array of insurance products, identifying the one that's most suitable for your specific requirements and financial situation.
Once you are content with the recommended product, we will proceed to submit your application to the provider. In certain cases, the policy provider may request additional information before accepting the application.
As your circumstances evolve, the policies initially acquired alongside your mortgage may no longer be suitable for your current situation. This is why we ensure your policies are consistently updated, providing expert mortgage advice in Halifax along the way.
We extend a Free Insurance Review to all our customers in Halifax. Secure your free insurance appointment by using our contact form, booking feature, or phone number, and we'll assess how we can assist you.
An insurance and mortgage broker in Halifax will examine your personal and financial situation before recommending the most suitable policy for you. They providers of transparency, ensuring you are comfortable throughout the process. If you have any uncertainties during your Life Insurance journey, your advisor will gladly address them.
Our primary goal is to ensure our customers are well-protected with a Life Insurance policy. In the unfortunate event of your passing, your family can rest assured that your payments will be covered with the payout from your policy.
As a mortgage broker in Halifax, we've observed that Life Insurance is often taken alongside other policies, depending on your individual circumstances. Explore more in our other insurance guides and pages. If you're considering multiple insurance policies, Halifaxmoneyman offers menu plans, allowing you to set up various policies simultaneously. Reach out to us for more information, and we'll explore how we can assist you.
Level Term Life Insurance is a type of life insurance where the death benefit remains constant throughout the policy term. The premiums also remain fixed during this period. This type of insurance is often chosen for its simplicity and predictability, making it easier for individuals to plan for the future.
Decreasing Term Life Insurance is a policy in which the death benefit decreases over the policy term. This type of insurance is often used to cover specific outstanding debts like mortgages. As the insured individual pays off the debt, the coverage decreases, aligning with the decreasing financial obligation.
Increasing Term Life Insurance is a policy in which the death benefit rises over time. This type of insurance is designed to account for inflation and the increasing financial needs of the beneficiaries. Premiums may also increase as the coverage expands.
Whole of Life Insurance, also known as permanent life insurance, provides coverage for the entire lifetime of the insured individual. Unlike term life insurance, it does not have a specific term limit. This type of insurance typically includes a cash value component that grows over time and can be accessed by the policyholder.
Joint Life Insurance is a policy that covers two individuals, usually a couple. The death benefit is paid out upon the death of the first insured person, after which the policy terminates. Joint Life Insurance can be either a first-to-die policy or a second-to-die (survivorship) policy, with the latter paying out upon the death of the second insured person.
Death in Service refers to a benefit provided by employers where employees are covered by a life insurance policy as part of their employment benefits. If an employee passes away while still in service with the company, a lump-sum payment is made to the employee’s beneficiaries.
As a single homeowner, taking out life insurance is a personal decision that depends on individual circumstances. While there may not be a spouse or dependents in the traditional sense, life insurance can still be valuable. It can help cover outstanding debts, such as a mortgage, ensuring that these financial responsibilities do not become a burden to family members or heirs. It can also be used to cover funeral expenses and leave a legacy for chosen beneficiaries. The type of life insurance and coverage amount would depend on the individual’s specific financial situation and goals.
Read our 347 Reviews
Halifaxmoneyman.com & Halifaxmoneyman 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
Contact
Follow Us
Halifaxmoneyman.com & Halifaxmoneyman 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
Speak to an Advisor – It’s Free!
7 Days a Week, 8am – 10pm
