Insurance
Life Home Cover
How Life Home Cover works:
Life Home Cover is Life Assurance at its most basic. The amount of cover you need and the length of time you should be protected for will depend on the amount and term of your mortgage. As you pay off your mortgage your cover will fall to reflect the falling amount you owe on your mortgage.
It is life (and serious illness) cover that is designed to pay off your annuity mortgage in the event of your death (or serious illness). This is a cheap form of cover as the sum insured reduces as you pay off your mortgage. The term of this product is linked to the term of the mortgage.
If you are taking out an annuity mortgage, your lender will require you to take out some form of mortgage protection. Whereas you are only required by the lender to get life cover, this product can also cover you in the event of a serious illness or permanent total disablement.
Life Cover
About life cover:
Get life insurance to ensure the future financial security of your family or your business.
How does life cover work?
Life cover pays out a predetermined lump sum of money if you die within a certain time period.
This payment can be used to:
- Protect your loved ones financially if you die.
- Ensure the financial survival of your business, in the event of the death of a key employee or director.
Single, dual and joint life cover
Most of our policies are available on a dual or joint life basis as well as a standard single life policy.
Single life cover:
- Taken out by one person.
- Is payable on their death during the term of the policy.
Dual life cover:
- Taken out on behalf of two people
- Is payable on each death during the term of the policy
Joint life cover:
Joint life cover is also taken out on behalf of two people. It can be taken out on a first death or second death basis:
Joint life Policies
| Policy | When will policy pay out? |
| Joint life first death | After the death of the first person named on the policy |
| Joint life second death | After the death of the second person named on the policy |
