LIFE INSURANCE
Helping Protect The People Who Matter Most
Life Insurance can provide valuable financial support for your loved ones if the unexpected happens. Whether you’re protecting your family, helping to repay a mortgage or providing long-term financial security, we’ll help you understand your options and recommend cover that’s right for your circumstances.
Based in Dorset, providing mortgage and protection advice to clients across the UK by telephone, video and face-to-face appointments.
Advising Clients UK-Wide
Telephone, Video & Face-to-Face
PROTECTING YOUR FAMILY
Helping You Choose The Right Life Insurance
We'll explain the different types of Life Insurance, help you understand how much cover you may need and recommend a solution that's tailored to your circumstances and budget.
Understand your needs
We'll discuss your family, mortgage, financial commitments and what you want your policy to achieve.
Compare your options
We'll explain the different types of Life Insurance and help you understand the cover available.
Recommend suitable cover
We'll search a comprehensive panel of insurers and recommend cover that's appropriate for your circumstances.
Support your application
We'll guide you through the application process and help keep everything on track through to completion.
WHY LIFE INSURANCE MATTERS
Helping Protect The People And Plans That Matter Most
Life Insurance is designed to provide financial support for the people you care about if you die during the policy term. While no policy can replace a loved one, the right cover can help reduce financial uncertainty at an already difficult time.
People arrange Life Insurance for different reasons. Some want to help repay a mortgage, others want to support children or replace the income their household relies on. The right amount and type of cover will depend on your circumstances, commitments and budget.
FINANCIAL SECURITY FOR YOUR LOVED ONES
Life Insurance Is About Protecting What Comes Next
The financial effect of losing someone can extend far beyond immediate expenses. Mortgage repayments, household bills, childcare, education and long-term family plans may all depend on the income and support that person provides.
Life Insurance can provide a lump sum or, depending on the policy, another form of financial benefit to help loved ones manage those commitments. Advice can help you understand the options available and how they may fit alongside any existing workplace benefits or policies.
Protecting Your Family
If your partner, children or other dependants rely on you financially, Life Insurance can help provide a safety net for them. A payout could support essential household costs and give your family more financial breathing space while they adjust.
Helping Repay A Mortgage
For many households, the mortgage is the largest ongoing financial commitment. Life Insurance may be arranged to help repay some or all of the outstanding balance, reducing the risk that loved ones are left managing unaffordable repayments.
Supporting Everyday Living Costs
A family's financial needs do not end with the mortgage. Household bills, childcare, education, transport and other regular expenses may continue. Suitable cover can help provide financial support for these everyday commitments.
Supporting Future Plans
Life Insurance can also help protect longer-term goals, such as supporting children while they grow up or giving a partner greater financial stability. The aim is not simply to cover one bill, but to consider the wider future of the people who matter to you.
LIFE INSURANCE OPTIONS
Choosing The Right Type Of Life Insurance
Choosing life insurance is easier when you separate the decision into two parts: how the amount of cover changes during the policy term, and whether the policy protects one person or two.
These choices can then be combined around your mortgage, family responsibilities, income and longer-term plans. The most suitable structure will depend on what you want the policy to achieve and how you would like that protection to work over time.
CHOICE ONE
How Should Your Cover Change Over Time?
The amount paid by a life insurance policy can remain fixed, reduce gradually or increase during the term. Each approach is designed to support a different type of financial need.
FIXED AMOUNT OF COVER
Level Term Life Insurance
Level term life insurance provides a fixed amount of cover for an agreed period. If a valid claim is made during that term, the amount paid remains the same whether the claim happens near the beginning or towards the end of the policy.
This can be useful where you want a consistent lump sum to support your family, replace income, cover an interest-only mortgage or provide for other commitments that are unlikely to reduce over time.
Because the benefit stays level, its real value may be affected by inflation over a long policy term unless increasing cover is selected instead.
REDUCING AMOUNT OF COVER
Decreasing Term Life Insurance
Decreasing term life insurance is designed so the amount of cover reduces during the policy term. It is commonly considered alongside a capital-and-interest repayment mortgage, where the outstanding mortgage balance should also fall over time.
The policy does not track your mortgage balance exactly, so the interest rate and term assumptions used when the cover is arranged are important. Changes to your borrowing may also mean the policy needs to be reviewed.
As the potential benefit reduces, decreasing cover can sometimes cost less than an equivalent amount of level cover, although price should not be considered in isolation from what you need the policy to protect.
COVER THAT CAN RISE
Increasing Life Insurance
Increasing life insurance is intended to help the value of your cover keep pace with rising costs. The amount insured typically increases at regular intervals, often by a set percentage or in line with an inflation measure specified by the insurer.
This can be valuable when the policy is intended to provide long-term family support, because a fixed lump sum may buy less in the future than it would today.
Premiums normally rise as the cover increases. Policy terms vary, including how increases are calculated and whether you can decline them, so these details should be considered carefully.
CHOICE TWO
Who Should The Policy Cover?
Once you have considered how the benefit should change, the next decision is whether to arrange individual policies or a joint policy covering two people.
ONE PERSON PER POLICY
Single Life Insurance
A single life policy covers one person and can pay a benefit if that person dies during the policy term. Couples can each arrange their own policy, with the level, term and type of cover tailored separately to their individual responsibilities.
Two single policies can potentially provide two separate payouts if both insured people die during their respective policy terms. They can also remain independent if circumstances or relationships change.
The combined cost may be higher than one joint policy, but the additional flexibility and potential for two claims can make separate cover worth considering.
TWO PEOPLE, ONE POLICY
Joint Life Insurance
A joint life policy covers two people under one arrangement and will commonly pay once, following the first death during the policy term. After a valid claim has been paid, the policy usually ends and the surviving person would no longer be covered by it.
This can provide a straightforward way to protect a shared mortgage or joint financial commitment and may cost less than arranging two comparable single policies.
However, the survivor may later need new cover at an older age or after a change in health, so the longer-term consequences of a first-death policy should be considered alongside the initial cost.
PLANNING YOUR COVER
How Much Life Insurance Do You Need?
There is no standard amount of life insurance that is right for everyone. The level of cover you may need depends on the financial impact your death could have on the people who rely on you.
Looking at your mortgage, household spending, dependants, existing resources and future plans can help build a clearer picture of the support your family might need.
01
YOUR HOME
Mortgage And Other Borrowing
Your outstanding mortgage is often one of the largest financial commitments to consider. Cover may be arranged to help repay all or part of the balance, depending on the type of mortgage and what you want to achieve.
Other borrowing, such as loans or credit commitments, may also affect the amount your family would need. It is important to consider whether those debts would continue, be repaid from your estate or place pressure on the household budget.
- Outstanding mortgage balance
- Repayment or interest-only structure
- Loans and other ongoing commitments
02
EVERYDAY SECURITY
Household Living Costs
Life insurance can do more than address a mortgage. Your family may also need help with everyday expenses if your income or contribution to the household was no longer available.
Regular bills, food, transport, childcare and other essential spending can continue for many years. Thinking about the monthly shortfall, and how long support may be required, can help inform an appropriate lump sum or income-based solution.
- Core household bills and regular spending
- Childcare and practical support
- The period for which support may be needed
03
PEOPLE WHO RELY ON YOU
Children And Other Dependants
The needs of children or other dependants can extend well beyond immediate household bills. You may want to consider how long they are likely to rely on you and whether additional costs could arise as they grow.
This might include education, childcare, care for a family member or financial support during a transition period. The purpose is not to predict every future expense, but to understand the responsibilities you would want the cover to support.
- Children's ages and likely dependency period
- Education, childcare or caring responsibilities
- Support for anyone financially dependent on you
04
WHAT IS ALREADY IN PLACE
Existing Savings, Benefits And Cover
Any existing resources should form part of the discussion. Savings, investments, pensions, workplace death-in-service benefits and current insurance policies may reduce the gap that new cover needs to address.
Those resources should still be reviewed carefully. Employer benefits can change when employment changes, investments may fluctuate in value and existing policies may no longer match your current mortgage or family circumstances.
- Savings, investments and accessible assets
- Existing life insurance policies
- Workplace and pension-related death benefits
05
LOOKING AHEAD
Future Plans And The Legacy You Want To Leave
Some people want life insurance to do more than meet current liabilities. You may wish to provide a financial cushion for a partner, help children in the future, contribute towards funeral costs or leave money to people who matter to you.
These aims are personal and may change over time. Separating essential commitments from additional goals can help you understand which needs should be prioritised and whether different types of cover may be appropriate.
- Longer-term support for a partner or family
- Funeral and estate-related costs
- Additional legacy or future family goals
LIFE CHANGES
When Should You Review Your Life Insurance?
Life insurance is usually arranged around the circumstances you have at the time. As your family, mortgage, work and financial priorities change, it can be sensible to check whether the purpose, amount and term of your existing cover still reflect what matters to you.
A review does not automatically mean replacing a policy. It is an opportunity to understand what is already in place, identify any changes in your needs and consider whether your current arrangements remain appropriate.
HOME & FAMILY
When The People Or Commitments Around You Change
Buying, Moving Or Remortgaging
A different property, mortgage balance or repayment structure can change the financial commitment your cover is intended to support.
Marriage, Civil Partnership Or Separation
Relationship changes may affect who relies on you financially, how commitments are shared and who you want any policy benefit to support.
Having Or Adopting Children
A growing family can increase both the number of dependants and the period for which financial support may be needed.
WORK & FINANCES
When Income, Benefits Or Borrowing Change
Changing Job Or Becoming Self-Employed
Workplace death-in-service benefits, income arrangements and the financial support available to your family may all change.
Borrowing Or Household Costs Change
Higher or lower borrowing, changed income or materially different household spending can alter the level of support you want to consider.
LOOKING AHEAD
When Your Longer-Term Plans Evolve
Approaching Retirement Or Repaying Your Mortgage
As major commitments reduce and priorities change, it can be useful to check whether the term, purpose and ownership of existing cover still match your plans.
TRUSTED ADVICE
Why Clients Choose Conrad Financial Services
Choosing life insurance is about more than comparing policies. It is about understanding what you want the cover to achieve, receiving clear explanations and making decisions based on your own circumstances, priorities and budget.
We take the time to understand what matters to you, explain the available options in plain English and support you through the advice and application process.
CLIENT SUCCESS STORY
★★★★★
Clear Advice From The Very Beginning
“We knew we wanted to put Life Insurance in place to help protect our family, but we weren't sure what type of cover was right for us or how much we actually needed. Conrad took the time to explain everything in plain English, answered all of our questions and helped us understand the different options without ever making us feel under pressure. The advice was clear, professional and tailored to our circumstances. We now have peace of mind knowing we've taken an important step to help protect the people who matter most.”
LIFE INSURANCE KNOWLEDGE HUB
Featured Life Insurance Guides
Explore practical guides covering the different types of Life Insurance, how much cover you may wish to consider and when it can be helpful to review your existing arrangements.
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Level term or decreasing life insurance: what is the difference?
Compare level and decreasing life insurance, including how benefits change, common mortgage uses, premiums and suitability considerations.
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How much life insurance might I need?
Explore how to estimate life insurance needs using debts, income replacement, family costs, existing cover, policy term and affordability.
Read GuideLIFE INSURANCE FAQs
Frequently Asked Questions About Life Insurance
Every person’s circumstances are different. Below are answers to some of the questions we’re most commonly asked about Life Insurance. If you’d like tailored advice based on your personal circumstances, we’re always happy to help.
Need clarity?
Need Help With Your Protection?
Not sure which type of protection may be right for you? Book an initial conversation and we’ll help you understand your options.
What is Life Insurance?
Do I need Life Insurance if I have a mortgage?
How much Life Insurance should I consider?
What's the difference between level and decreasing Life Insurance?
Should I choose a single or joint Life Insurance policy?
Can I get Life Insurance if I have an existing medical condition?
Will I need a medical examination?
Can I change my Life Insurance after taking it out?
When should I review my Life Insurance?
How do I arrange Life Insurance through Conrad Financial Services?
LET'S START THE CONVERSATION
Ready To Protect What Matters Most?
Whether you’re protecting your family, your income or your mortgage, we’re here to help you understand your options. We’ll explain everything clearly, answer your questions and recommend protection that’s appropriate for your circumstances.
- Personal, tailored protection advice
- Telephone, video and face-to-face appointments
- Dorset based, supporting clients across the UK
- Usually respond within one working day
READY TO TAKE THE NEXT STEP?
Let’s Talk About Your Mortgage & Protection Plans.
Whether you’re buying your first home, moving house, remortgaging, self-employed, a company director or looking to protect your family, we’re here to help you make confident decisions.