Life insurance is about helping to provide some financial security for people who depend on you if you died during the policy term. (So if you don't have a partner, spouse or registered civil partner, children, or other dependants, you may not need life cover.)
To make sure you buy the right amount of cover, with the right terms and conditions, you should consider getting some advice. For more information please contact us on 0800 028 60 70. The advisor assesses what your family would need and will only make a recommendation that is affordable to you.
Always answer questions as best you can and disclose any existing medical conditions when asked. If you don't give the full facts, you could invalidate your policy and your insurer may not pay out.
This is the simplest and usually the cheapest type of life insurance, and is known as term insurance because you choose how long you're covered for, say, 10, 15, or 20 years (the term) up to a maximum of 40 years. We offer both level term assurance where the amount of cover remains the same throughout the policy term and decreasing term assurance where the amount of cover decreases roughly in line with the waya repayment mortgage decreases.
Term insurance only pays out if you die within the term you've agreed. If you live longer than the term, you get nothing. As a couple, you can also take out term cover in both your names, with the policy paying out if either of you die during the term.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250.
As with all insurance policies, conditions and exclusions will apply.
The Mortgage Shop (N.I) Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority Registered Office: The Mortgage Shop (N.I) Ltd, 132 Great Victoria Street, Belfast. BT2 7BG. Registered Company Number: NI26842. Registered in Northern Ireland.