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Life insurance is a product taken out to give your family financial support in the event of your passing. The way that life insurance works is that it pays out in a lump sum or regular payments to your dependents. The money that is paid out can help cover expenses such as funeral costs, mortgage payments, and other financial obligations.
Our specialist insurance advisors in Beverley are here to help you find a competitive product that best suits your circumstances. We will look at your personal and financial situation during a free insurance review to review your options and determine which insurance product is right for you.
Life insurance is taken out with an insurance provider. Our job is to search through our panel of providers to find you the most suitable life insurance product.
Once you take out a life insurance policy, as a policyholder, you will have to make monthly or annual payments. Unfortunately, if you fail to keep up with these payments, your policy will become invalid. The coverage period can be for a specified term or the entire life of the insured person, depending on the type of policy chosen. In the event of the insured person’s death during the coverage period, the insurance company pays out a tax-free death benefit to the beneficiaries named by the policyholder.
There are various types of life insurance, including term life insurance, which covers a specific term, and permanent life insurance, which provides lifelong coverage and includes a cash value.
As to whether you need life insurance or not depends on your circumstances and financial objectives. If you have dependents, such as a spouse, partner or children who rely on your financial support, life insurance can serve as a financial safety net.
Life insurance is usually taken out alongside a mortgage. In the event of your passing, it can cover the mortgage payments and provide income replacement for your family. Additionally, if you have outstanding debts, life insurance can ensure that those financial obligations are met, easing the burden on your family.
Exploring the significance of life insurance in Beverley during significant life events, such as purchasing a home, is crucial for safeguarding your family’s financial well-being. When embarking on the journey of homeownership, it’s essential to consider the potential financial implications that may arise in unforeseen circumstances. Life insurance serves as a protective measure, providing a financial safety net for your loved ones in the event of your untimely passing.
By securing life insurance in Beverley, you ensure that your dependents are shielded from the financial challenges that may arise from mortgage commitments. In the event of your death, the life insurance payout can be utilised to cover outstanding mortgage payments, allowing your family to pay off the mortgage without facing financial burden.
When getting a life insurance quote, several crucial factors come into consideration to tailor the coverage to your individual circumstances. These key elements include your age, health condition, lifestyle choices, occupation, and the desired coverage amount.
Firstly, your age plays a significant role, as younger individuals often receive more affordable quotes due to the lower associated risks. The state of your health is another pivotal factor, with healthier individuals generally qualifying for lower premiums.
Lifestyle choices, such as smoking or engaging in high-risk activities, can also impact the quote, as they may pose increased risks to your health. Your occupation is evaluated to assess any occupational risks that might affect the coverage terms.
Lastly, the desired coverage amount is a fundamental factor, influencing the overall cost of your life insurance. Understanding how these factors connect allows us to provide a personalised and comprehensive life insurance quote that meets your specific needs and financial goals.
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Hannah
I can't thank everyone enough for their help. They went above and beyond to make sure everything went smoothly - it would have been far more stressful had I not had their support. I'd recommend the company to anyone.
2 months ago
Anonymous
Yery good and professional.
4 months ago
Samuel
Helpful, responsive and friendly.
6 months ago
Sophie
Highly recommend! Chris talked me through everything and made sure I understood it all, great communication and a pleasure to deal with!
7 months ago
Kerry
Absolutely fantastic from start to finish, would highly recommend 😀 5*
10 months ago
Anonymous
My advisor Leo provided the personal tour ch through the whole process and his communication was very good, even texting me at weekends with any updates on my mortgage progress.
1 year ago
Anete
During mortgage application process my mortgage advisor and case handler was communicating with me very often which for me as a first time buyer was very important. Always open for questions and super flexible with first initial mortgage...
1 year ago
Anonymous
From start to finish perfect, friendly, professional and everything made clear and easy, Matt and Lizzi have been absolutely superb and ALMOST got use to my 'colourful language' Many thanks for all your help. Cheers 🍻
1 year ago
David
We use Beverleymoneyman - Mortgage Brokers for all our mortgage and insurance needs. They never fail to deliver and apply professionalism combined with insightful advice to obtain the best possible deal. Thanks to Leo and Jo for their help and...
1 year ago
Neil
This is the second time we have used Beverleymoneyman and we are not disappointed. Daniel talked us through the options we had and was really good at answering our questions. Jo ensured our application progressed and kept us informed at each...
1 year ago
Barbara
These people saved my life during the most stressful house purchase ever. All sorts of things happened and when most of the professionals involved were impossible to get hold of, everyone at UK Moneyman was just amazing, kind, thoughtful and...
1 year ago
Nicole
Could not recommend Matt and Megan enough! Being a first time buyer, I did not know what the buying process would entail. Thankfully, Matt and Megan explained everything as we went along. Matt went above and beyond to answer my calls when we...
2 years ago
Liam
Really good service and friendly too
2 years ago
Angela
Very pleased with the the service. Dan was very helpful and explained everything as the process went along in a clear way. All options were looked to see which would be the best option for myself. This made doing the product transfer hassle free.
2 years ago
Darren
Anna was brilliant from first contact to the end of the process was just a few days and I didn’t have any stress at all Will definitely recommend
2 years ago
Chris
Brilliant service from start to finish, we had no idea on the process and every little question has been answered along the way no matter how trivial. We can’t thank Malcolm, Joe and Lyndsey enough for their help throughout this process and for...
2 years ago
Oliver
Wayne and Meghan were great and everything was sorted without issue or effort. Great advice and got the product I needed. Great service.
2 years ago
James
I first used UK Moneyman when buying my house in 2017. I returned in 2021 for my remortgage. In both instances I found Malcolm and his team to offer excellent service, making the process clear and simple. He talked me through every step, and...
2 years ago
Gemma
Very helpful and professional
2 years ago
Laura
Very helpful. Reply to emails quickly and clearly. Would definitely recommend
2 years ago
During your free insurance review, we will explore your background and gather pertinent information to tailor a customised plan that aligns with your financial capabilities.
Our team will navigate through a comprehensive array of insurance products, identifying the one that's most suitable for your specific requirements and financial situation.
Once you are content with the recommended product, we will proceed to submit your application to the provider. In certain cases, the policy provider may request additional information before accepting the application.
As your circumstances evolve, the policies initially acquired alongside your mortgage may no longer be suitable for your current situation. This is why we ensure your policies are consistently updated, providing expert mortgage advice in Beverley along the way.
We offer a free insurance review to our customers in Beverley. To schedule your free insurance appointment, simply utilise our online contact form and booking feature, or reach us via phone.
During this review, we will carefully assess your situation and work out what life insurance products are best suited to you.
As an insurance and mortgage broker in Beverley we are able to compare 100s of different products through different life insurance providers.
We do this so that we can find the most competitive and suitable deal for your unique situation.
Our main objective is to make sure that you are protected with the right life insurance policy for you.
In the event of your unfortunate passing, you can take comfort in knowing that your family will be financially supported, as the payout from your policy will cover necessary expenses.
Beverleymoneyman also offers menu plans, allowing you to set up various policies simultaneously. Reach out to us for more information, and we’ll explore how we can assist you.
It has never been easier to get life insurance and mortgage advice in Beverley.
Working 7 days a week provides you with the flexibility to get in touch at a time most convenient to you. If you want a quick answer to an insurance question, check out our free guides or give our team a call!
Level Term Life Insurance maintains a constant death benefit and fixed premiums throughout the policy term.
This type of insurance is often chosen for its simplicity, making it easier for individuals to plan for the future.
Decreasing Term Life Insurance involves a decreasing death benefit over the policy term, commonly utilised to cover specific debts such as mortgages.
As the insured individual pays off their mortgage, the coverage decreases alongside their outstanding mortgage balance.
Increasing Term Life Insurance features a growing death benefit over time, addressing inflation and the rising financial needs of beneficiaries.
Premiums may adjust upward as the coverage expands to accommodate these evolving requirements.
Whole of Life Insurance, also referred to as permanent life insurance, offers coverage for the entirety of the insured individual’s life, without a specified term limit like term life insurance.
This type of insurance typically includes a cash value component that grows over time and can be accessed by the policyholder.
Joint Life Insurance is a policy designed to cover two individuals, typically a couple. Upon the death of the first insured person, the death benefit is paid out, marking the termination of the policy.
This insurance can take the form of a first-to-die policy or a second-to-die (survivorship) policy, with the latter providing the payout upon the death of the second insured person.
Death in Service is a policy offered by employers, encompassing life insurance coverage within the employment benefits for their staff.
In the unfortunate event of an employee’s death while actively serving in the company, a lump-sum payment is disbursed to the designated beneficiaries of the employee.
Please note that not all employers will offer this.
As a single homeowner, even without a spouse or dependents, life insurance can still be beneficial.
Life insurance can help cover things like a mortgage, ensuring your financial responsibilities don’t burden your family or heirs. It can also handle funeral expenses and leave a legacy for chosen beneficiaries. The type and amount of coverage depend on your specific financial situation and goals.
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Beverleymoneyman.com & Beverleymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Beverleymoneyman.com & Beverleymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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