Life Insurance Frequently Asked Questions

All of our FAQs have been answered by our expert advisers to help make life insurance simple.

Life Insurance frequently asked questions

Do you need Life Insurance for a mortgage?

Life insurance isn't a legal requirement for a mortgage, but some lenders do make it a condition of the loan, especially for riskier borrowers or large amounts. Some lenders may suggest or encourage life insurance as part of responsible borrowing, but they generally cannot make you to take it out. The decision is ultimately yours, based on your financial situation and family needs.

Can you have more than one Life Insurance policy?

Yes, there is no legal limit to how many policies you can have, and you can hold multiple life insurance policies with different providers. You may benefit from multiple policies if: you don’t have enough insurance in place to cover everything, you want to find cheaper cover whilst keeping your old policy or for different purposes.

How can I purchase Life Insurance?

It is possible to buy life insurance direct from the insurer or through a broker, intermediary or financial adviser. We recommend buying from an intermediary such as Usay Compare, to allow you to compare a wide selection of the best companies and policies, to ensure you have the best policy to suit you.

How much Life Insurance cover do I need?

Cover can vary depending on the lump sum payout amount you would like your beneficiary to receive. Your requirements can be calculated by the costs you need to cover and the savings you have. It could also be calculated to cover a significant debt such as a mortgage or long-term loan.

Who needs Life Insurance?

Life insurance is not a legal requirement but if you have anyone who relies on you financially, or you have a debt, such as a mortgage, it is certainly something to consider.

Can I add Critical Illness cover?

Yes our advisers can explain how you can add a Critical Illness policy to your Life Insurance. This can be a cost effective way of receiving the most comprehensive cover. If you were to suffer a critical illness you would then receive a lump sum pay out as well.

Learn more in our video

Didn't Find The answer?

If you didn’t find the answer you were looking for then please get in touch and we can answer your questions for you and even get you a quick quote.

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