Life Insurance Advice
Life insurance is a simple but powerful way to protect the people you love if the worst should happen. At Mather & Murray Financial, we believe it’s not just about having life cover – it’s about having the right cover for you.
Whether you’re protecting a mortgage, your children’s future, or making sure your partner can continue to live comfortably, we’ll help you find the right solution.
What is Life Insurance?
Life insurance pays out a cash lump sum if you die during the term of the policy. This money can be used by your family to:
Cover the mortgage and household bills
Replace lost income
Pay for childcare or education
Cover funeral expenses
Provide financial peace of mind
Example:
Mark and Sarah took out life cover when they bought their first home. When Mark tragically passed away three years later, the policy paid off the mortgage – giving Sarah financial breathing space when she needed it most.
Types of Life Insurance
Term Life Insurance
Term life insurance covers you for a fixed period (e.g. 25 years). If you die during that time, the policy pays out. If you live beyond it, there’s no payout – but premiums are lower than other options.
This is ideal if you want to protect your family until children have grown up or your mortgage is repaid.
Decreasing Term Life Insurance (Mortgage Life Cover)
This cover is designed to reduce over time, in line with your mortgage balance. It’s often the most affordable option for homeowners with repayment mortgages.
Example:
Emily and Tom have 20 years left on their mortgage. They pay £12 a month for decreasing term insurance, which would fully repay the mortgage if either of them died before the term ends.
Whole of Life Insurance
Whole-of-life cover guarantees a payout – no matter when you die. It can be more expensive, but is often used for:
Inheritance planning
Covering funeral costs
Leaving a guaranteed lump sum to loved ones
Critical Illness Cover
Critical illness insurance pays a lump sum if you're diagnosed with a serious condition such as cancer, heart attack, or stroke. This can be used to:
Take time off work
Fund private medical treatment
Adapt your home or lifestyle
You can take it as a standalone policy or combined with life cover.
Example:
When James was diagnosed with cancer, his critical illness policy paid out £50,000. It meant he could take time off work and focus on recovery without financial stress.
Increasing Term Insurance
With this type of policy, your cover amount increases each year to keep up with inflation – helping protect your payout’s value over time. Premiums also rise to match.
Renewable Term Insurance
This policy allows you to renew at the end of the term without fresh medical checks – useful if your health has changed but you want to extend cover.
Joint Life Insurance
A joint policy covers two people – often couples – and pays out on the first death. It’s often more cost-effective than two individual policies, but remember: once it pays out, the policy ends.
Why Speak to an Independent Adviser?
Everyone’s circumstances are different. Whether you’re self-employed, a homeowner, a parent or nearing retirement, we’ll help find the right life insurance for your needs and budget.
We’re based in Swindon, but our expert advisers work with clients all over the UK – offering face-to-face, phone or video appointments.
Book Your Free Consultation
Speak to an independent life insurance adviser today. We’ll explain your options in plain English and help you make the right choice to protect your future.
Contact us to arrange a no-obligation chat.
