Level Term Life Insurance

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

Level Term Life Insurance pays a lump sum, as specified when the policy is taken out at any point during the term of the Level Term policy.  This type of life insurance can be taken out to cover one person or 2 and, crucially, it can be placed into Trust which allows for the payout to be paid to the nominated beneficiaries faster than if it were paid the the deceased estate.

 

Level term life insurance can be taken out to ensure that the mortgage (interest only mortgage and capital and repayment mortgage) is repaid in the event of death.  With a capital and repayment mortgage the balance of the mortgage will reduce over the term of the mortgage and so any surplus Life insurance not need to repay the mortgage will be given to the nominated beneficiaries of the Trust or deceased estate.

 

You should also consider reviewing your existing life insurance policies to ensure you and your family have adequate protection.  It may be that you have changed the term of your mortgage or increased the amount you have borrowed and you could find that your existing policy is no longer fit for purpose.

 

Our Protection specialist will be happy to discuss your Life insurance requirement and provide a no obligation quote.

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Other Types of Life Insurance

Legal Information

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED UPON IT.

 

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. 

 

 

The Money Bee, which is a trading style of Mortgage and Loans Limited, based in Stafford, (Financial Services Register number is 757812).

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 upon application and an arrangement fee up to £495, or £995 for specialist mortgages, on receipt of the mortgage offer.

 

Parkfield Business Centre, Park Street, Stafford, Staffordshire, ST17 4AL

Telephone 01785 878 555

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Parkfield Business Centre, Park Street, Stafford, Staffordshire , ST17 4AL