Case studies

Sometimes, you can get more for less

If you smoke it inevitably plays a part in the cost of your life insurance and critical illness premiums. The negative health implications of smoking are well-documented. This can often have negative implications on your premiums, so it is worth getting a quote with us to find out what you could save.

Young couple buying their first home

Life event:Buying first home. Want to pay off mortgage if you get seriously ill.
Debt:£175,000 mortgage
Life cover:£175,000
Cover type:Decreasing term
Term:25 years
Critical Illness:£50,000

When buying your first home you are unlikely to have a great deal of debt, other than the mortgage you are taking on. As time goes on you will have paid more and more of your mortgage, which will leave you with less debt repayment in the future. A decreasing term policy is ideal in this scenario. Added Critical Illness can provide additional cover so you can rest assured you are financially stable with mortgage repayments if you were to fall seriously ill.

Middle-aged couple taking interest only mortgage for investment

Life event:Taking interest only mortgage as an investment for retirement, with buy to let in mind
Debt:£163,000 mortgage and £10,000 credit card
Life cover:£173,000
Cover type:Level term
Term:20 years

Property is an extremely popular way to invest in your future finances. If a property is purchased with a view to renting it out then the rent will cover a large proportion of the mortgage each month, which will really help. You still have the debt, as well as some credit card repayments. A level term cover type could help you to cover your family for any other investments you have made. If you have numerous properties then level term can help you feel reassured that all the repayments will be covered no matter what happens.

Couple with a mortgage, having their first child

Life event:Have a mortgage. Having first baby
Life cover:£150,000
Cover type:Level Term
Term:21 years
Critical Illness:£50,000

The previous example shows that decreasing term insurance could be ideal for a young couple buying their first home, so this couple may well already have some form of life cover. Having your first child is likely to strain your finances over the coming years. A policy lasting until they are 21 could be a good way to cover them until they reach adulthood and can pay their own way. Critical Illness cover can provide that added reassurance if your child is taken seriously ill.

Single person taking out first mortgage

life assurance beagle street
Life event:Buying first home on 40 year mortgage
Life cover:£175,000
Cover type:Decreasing term
Term:40 years

If you are young and single then purchasing Life Insurance could be great value. In this case the term is 40 years because cover is significantly cheaper at this stage in your life than in any other, and your price will be fixed for your policy term. By locking yourself into these cheap prices you could save yourself a lot of money. Decreasing term will cover any outstanding debt.