Life Insurance
Life Insurance – Protecting Your Loved Ones and Your Future
Life is full of uncertainties, but with
Life Insurance, you can ensure that your loved ones are financially protected if the unexpected happens. At Oadby Mortgages, we’re here to help you understand how life insurance works and find the right cover for your needs, so you can have peace of mind knowing your family’s future is secure.
What is Life Insurance?
Life insurance is a policy that provides financial protection for your loved ones in the event of your death. It ensures that they’re not burdened with the financial responsibilities, such as mortgage payments, daily living expenses, and other debts, when you're no longer around.
Types of Life Insurance
Term Life Insurance
- What it is: This is the most common type of life insurance. It provides cover for a specific period of time (e.g., 10, 20, or 30 years). If you pass away during the term, your family will receive a payout.
- Why it’s important: It’s typically the most affordable option and can be tailored to cover key financial commitments, such as your mortgage or children’s education.
Whole of Life Insurance
- What it is: This policy provides lifetime cover, meaning that no matter when you pass away, your beneficiaries will receive a payout.
- Why it’s important:
Whole of life insurance offers long-term peace of mind, ensuring that your loved ones are taken care of no matter when you pass away.
Family Income Benefit
- What it is: Instead of a lump sum payout, family income benefit provides a monthly income to your family if you pass away within the policy term. This helps replace your income and allows your family to continue their lifestyle.
- Why it’s important: If you have dependents who rely on your income, this type of insurance ensures they’re not financially impacted by your loss.
Critical Illness Cover with Life Insurance
- What it is: This combines life insurance with critical illness cover, offering protection not only in the event of death but also if you’re diagnosed with a serious illness (e.g., cancer, stroke, heart attack).
- Why it’s important: It provides a financial cushion if you’re diagnosed with a critical illness, helping to cover medical bills, daily expenses, or mortgage repayments while you focus on your recovery.
- Financial Protection for Your Family: If something were to happen to you, life insurance ensures your loved ones are not left with financial worries.
- Mortgage and Debt Coverage: Life insurance can cover your mortgage or any outstanding debts, ensuring your family can remain in their home without the burden of additional financial stress.
- Peace of Mind: Knowing that your family is protected financially in your absence gives you peace of mind, allowing you to focus on the present without worrying about the future.
Why is Life Insurance Important?
- Personalised Advice: We’ll assess your financial situation and recommend the best life insurance options for your needs.
- Affordable Cover: We can help you find the right cover at a price that suits your budget, whether you’re looking for basic life insurance or a more comprehensive policy.
- Quick & Easy Application: We simplify the application process, ensuring that you get the cover you need with minimal hassle.
How We Can Help You
At Oadby Mortgages, we offer expert advice and guidance to help you find the right life insurance policy. Our team works with you to understand your needs and ensure that your life insurance cover is tailored to protect your loved ones, home, and future.
How to Get Started
- Book a Free Consultation: Get in touch with one of our friendly experts for a free, no-obligation consultation to discuss your life insurance needs.
- Review Your Options: We’ll guide you through the different life insurance options available and help you choose the right cover.
- Apply for Your Policy: Once you’ve selected the policy that suits you, we’ll assist with the application process and get you covered as quickly as possible.