Life Insurance

Why Life Insurance?

Life insurance is about providing for the ones you care about when you are not there to do it yourself. Have you ever wondered how your family would manage financially without you? With life insurance in place your family could have the security of a cash lump sum if you were to die during the policy term.

You can help to ensure financial support for your family, or even a business partner, after your death by taking action now, whilst you are still alive.

Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. You can help to support your family after you die, or even a business partner by acting while you are alive. If you leave it, it may be too late.


  • Among The Reasons To Take Out Life Insurance You Could Include:

  1. Mortgage repayments – do you wish to arrange for your mortgage to be paid off?
  2. Replacing the primary earner's salary – ensuring the family does not fall on hard times after your death.
  3. Replacing childcare – the death of the primary childcare provider could lead to the need for childcare expenses.
  4. Education expenses – cover for school/university fees after the death of the primary earner.

Whether it's about not leaving your debts behind or ensuring your family can maintain the standard of living to which they were accustomed, it's clear there are plenty of reasons to look for the best life insurance policy for your personal circumstances. Getting the best quote is an important part of finding the right policy.

There are many different types of cover, the main types to consider are:


  • Decreasing Term

  1. Designed specifically to protect a repayment mortgage
  2. The cash lump sum payable covers the outstanding balance of the mortgage
  3. The actual amount paid out reduces as the plan goes on, in line with your mortgage balance decreasing
  4. Sometimes known as Mortgage Life Insurance

Or


  • Level Term


  1. Designed to provide financial security for your loved ones.
  2. The insured amount remains constant for the life of the plan and is paid tax free in the event of the policy holders death or terminal illness, if provided for in the policy.
  3. Can be used for living costs, covering mortgage, children's education and more.
  4. Sometimes known as Term Assurance or simply Term Insurance.

You also need to consider single or joint life basis with benefits including paying out on the diagnosis of a terminal illness. If the policyholder is alive when the policy expires no payment is made and, should the policyholder stop paying premiums at any stage, the policy has no value.


  • Other Aspects To Consider Are:

  1. Renewable Term Insurance – On the expiry date there is an option to continue without a health review.
  2. Convertible Term Insurance – Level term insurance with the option to revert to whole life or endowment insurance.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

SHIRE FINANCIAL SERVICES LIMITED IS AN APPOINTED REPRESENTATIVE OF SESAME LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

COMMERCIAL MORTGAGES, INCLUDING BUSINESS BUY TO LET, ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. FOR COMMERCIAL MORTGAGES WE ACT AS INTRODUCERS ONLY.