Life Insurance

Compare hundreds of products to ensure you get the most suitable one for your needs.

Protecting you and your family...

When you organise cover with our team you will get the following benefits:
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Our expert advisors can help you find the best policy from many large providers such as Legal & General, Aviva, Vitality and Scottish Widows. We also have access to solutions from various smaller specialist providers.

No fee to advise & arrange

We don't charge to discuss your requirements; there are no fees for us to research and explain your cover options, we don't even charge to arrange the cover, organise a trust and even write your Will at the same time - no fees whatsoever!

Explain products & options

Critical Illness cover, serious illness cover, accident & sickness, income protection - with so many options let us explain each and help you find the right cover for you and your family.

Health based recommendation

When we make a recommendation we take into account your health, family history and lifestyle, this means that when we give you a price, it is less likely to be adjusted following the underwriting process.

Review existing policies

As part of the advice process we always take a look at any existing policies that you have in place and review them to ensure they are the most comprehensive and competitive available.

Free last will & testament

When you take a policy with Dunham McCarthy Mortgages our colleagues at Mylastwill.co.uk are happy to provide a full, legally binding last will and testament without charge - it's all part of the service!

Policies written into trust

To minimise delays and reduce Inheritance Taxes, we can write you policy into a discretionary trust, again no charge!

What is Life Insurance?

Life insurance is where you take out an insurance policy against your life, with a view to it paying out a lump sum, upon your death, with monies going to your family or repay debts. This is usually loved ones such as your life partner to help them to be financially secure in your absence.

Policies are usually paid monthly for the term of the policy or the full term of your life – depending on what type of Life Insurance you go for.

The concept of life insurance is to free your family (as far as is possible) from any debt / loans you might leave behind and to make your family as long-term, financially secure, as is possible, in your absence.

What are the Types of Life Insurance?

There are three main types of Life Insurance that you can apply for:

Do I Need Life Insurance?

Whilst you can get life insurance from the age of 18 (some companies / brands might have differing age restrictions), whether you require it or not depends very much on your own personal circumstances. Life insurance becomes an important requirement if:
If you want your family to continue the lifestyle, to which they have become accustomed, it’s a good idea that not only do you choose an option that covers the remainder of the mortgage, but also, one that that’s index linked to take into account inflation.

How Much Does Life Insurance Cost?

Whist you can pay as little as £5 a month, the average premium in the UK currently stands at around £30 a month.

However, there are many influencing factors that effect the amount of your monthly premiums:

Does Life Insurance Always Pay Out?

In the UK over 95% of all life insurance claims are successful and pay out. Inevitably, there will always be a small number of cases where claims are turned down. This can be for a variety of reasons:

Why Should my Life Insurance be in a Trust?

When taking out life insurance, your family / loved ones are more likely to benefit from it if it’s ‘written in trust.’

Whilst you want to cover all your debts, such as your mortgage, you also want to leave your family as much money, to insure their financial well – being, as you possibly can. With this in mind – and particularly if your single or divorced, it’s worth appreciating that the inheritance tax threshold for your combined estate (property, savings, possessions, investments and……..life insurance) is £325,000. Anything above this amount is liable for 40% inheritance tax. This means that if your life insurance pay-out ‘tips you over the threshold’ and your life insurance isn’t within a / the trust, the taxman stands to take a sizeable share.

Where Should I Get my Life Insurance From?

Given the importance of such a requirement and often faced with a raft of small print and possible exclusion clauses, we would always suggest that you seek some advice from a specialist or independent adviser to ensure you get the life cover that’s ideally suited to your requirements. As it happens we have a team of qualified professionals all here to help you get the right cover for your family, so call today 01785 336222.

Got a Question?

Don’t hesitate to get in touch with us, our friendly team is here to help.​
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The Process

1.

Answer a few simple questions

The first step is to find out a little more about your situation before scheduling a consultation with the most suitable specialist. Appointments are usually available within a few hours or can be scheduled in the future.

2.

Speak with one of our expert advisors

It’s good to talk, and our friendly mortgage team are here to answer your questions. We do not charge for advice so what are you waiting for, book your appointment today.

3.

Let us find you the best deal

Once we understand your goals the final step is for your advisor to research the market and find you the most suitable product.

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