You have plenty of different options when it comes to Life Insurance, adding different perks, decreasing term or level term, deciding what’s best for you can be difficult.
Life Insurance at MAIN
Updated: 8th December 2021
Covid-19 Update
Due to the Covid-19 pandemic, insurers will ask additional questions with regards to symptoms and whether or not you have contracted Covid-19 before providing you with a policy.
Life Insurance is there to pay your dependents money in the unfortunate event of your passing. This can be in the form of one lump sum or as regular payments.
Designed to give you the reassurance of financial stability for your loved ones, the amount to be paid out depends on the level of cover you take. You can also decide which way would be best to be paid out and whether it will cover specific transactions, such as rent or a mortgage.
Two types of Life Insurance
The first type of Life Insurance is a term life insurance policy. This type will only pay out, should you die during that specific policy term. You can usually select in increments of 5 years, i.e 5 years, 10 years, 15 years or 20 years. With this type, there would not be any lump sum due at the end of the term.
The second type of life is known as a whole-of-life policy. This type will pay out at any point, should you pass away. Of course this is dependent on you being up to date with your premium payments.
Life Protection - Quick Questions
Do you need life cover?
It is not a legal requirement, even if you do have a mortgage. However, like any insurance, you may benefit from having the policy in place. If you do have a mortgage or if you have any dependents, such as school age children, family members unable to provide for themselves or even a partner who may rely on your income. If you have any of the above, a life policy may be a good idea.
How much does life protection cost?
There are lots of factors that will have an impact on the quotation provided. This type of insurance is all about you, your health and your lifestyle. Things such as whether you smoke, how much you drink and your age can all play a part in your quote. For example, the younger you are, the less likely you are to die and therefore the lower the premium.
Level cover vs Decreasing cover
Level cover
Choose a lump sum to leave behind for your loved ones, and select how long you want your cover to run for. You’ll then pay the same amount each month until your policy ends.
Decreasing cover
You might choose this type of cover to help your loved ones pay off a repayment mortgage or long-term loan if you pass away at any time during the policy term.
Book Your FREE Protection Review
We have access to some of the UK’s largest underwriters and therefore have the ability to compare levels of cover there and then for you. We will ask you some questions about you and your lifestyle and establish exactly what policy features are important to you.
This can be done over the telephone, Zoom or face to face. If you would like to discuss your life protection options, either give us a call or arrange a consultation.







What isn’t covered with Life Insurance?
It may seem obvious, but this policy is only designed to pay out, in the event of you dying. It will not cover you for illness or disability. Some life policies may provide a terminal benefit, but this may not be automatically granted and there can be lots of terms and conditions attached.
Like any form of protection, there will be exclusions. Most levels of life cover will not cover you for drug or alcohol abuse. There may also be an additional premium to pay, if you take part in any physical risky sports.
Prior to taking the insurance, if you already have a serious health problem, your insurer may exclude anything relating to that pre-existing problem.