Life Insurance

Naturally, we all want to do the best for our families, and keep them properly protected on every occasion. In simple terms, life insurance provides a tax-free lump sum on death.

If you need convincing that life insurance is a good product to buy, ask yourself this question. If you were to die, how much money would your family have to live on? Many families would find themselves running short of money very quickly. Your salary would stop, but the household bills and mortgage repayments would still need to be paid.

A payout from a policy could make the difference between your loved ones facing a financial struggle at a challenging and emotional period in their lives, and being able to maintain the sort of lifestyle they enjoyed when you were still around.

Most people tailor their policy to ensure that their financial commitments would be met in the event of their death, so policies are often aligned with the term of a mortgage or other loan.

Life insurance isn’t the only form of protection policy you can take out. Here are some other policy types that families with mortgages often consider.

 

Protecting your family and your home is against significant life events, such a serious or critical illness or death is an important part of anyone's financial planning.

 

The Money Bee is able to advise on various protection policies and varying levels of cover.  Our team of protection specialists will first understand your requirements before researching the market for the most suitable solution.

 

You will find more information below, but we would encourage you to contact our friendly team to discuss your requirements.

 

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Long-Term Life Insurance Mortgage Advice Mortgage Broker

This type of life insurance guarantees the same payout over the term of the policy

Level Term Life Insurance

Serious Illness Protection Mortgage Advice Mortgage Broker

Protection that pays out if you were diagnosed with a Serious illness or Critical illness

Serious Illness Protection

Decreasing Term Life Insurance Mortgage Advice Mortgage Broker

Life insurance that decreases over the period of the life policy

Decreasing Term Life Insurance

Income Protection Mortgage Advice Mortgage Broker

A protection policy to protect your monthly household income

Income Protection

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR
PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

 

CALLS ARE RECORDED FOR TRAINING AND MONITORING PURPOSES

Legal Information

.The Money Bee, which is a trading style of Promise Solutions Ltd and is authorised and regulated by the Financial Conduct Authority– Number 681423. Registered in England, company number 04822774. Data Protection Reference Z8661889
Registered Office: 2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

Terms and Conditions

There may be circumstances where we need to charge a fee.  In these instances, we will notify you at an early stage which could be £125.00 upon application and an arrangement fee up to 1% of the advance subject to a maximum of £2500.00, on receipt of the mortgage offer.

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2nd Floor, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG.

2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

 

Mortgages and Remortgages

Representative example

£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker/processing fee and £125 application fee. Total repayable £119,873.

 

Secured / Second Charge Loans

Representative example

£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, the total charge for credit is £42,584.52 which includes a £2,690 broker/processing fee. Total repayable £105,584.52.

 

Unsecured Loans

Representative example

£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.