Life Insurance
A lump sum paid to the people you love if you die. One of the most powerful things you can do for those who depend on you. Explained honestly, without pressure.
What Is Life Insurance?
Life insurance is a lump sum paid to the people you choose if you die during the term of the policy. That is it. Simple, profound, and for the families who need it, life changing.
Jack has sat with clients who ummed and aahed about taking out life insurance, then something horrible happened. The policy literally changed their family's life. No more financial stress. Set up for life.
He has also sat with people who did not have it in place when they needed it. That difference, between having it and not having it, is something he cares about deeply. It is why he talks about life insurance the way he does: directly, and without drama.
“People who ummed and aahed when taking out a mortgage, then something horrible happened. The policy literally changed their family's life. No more financial stress. Set up for life.”
“Protection is not morbid. It is an act of care for the people who depend on you.”
Three Types of Life Insurance
The right type depends on your situation. Jack will explain the differences and help you choose the one that genuinely fits.
Level Term
The most straightforward type. You are covered for a fixed period, say 25 years, for a fixed sum. If you die during that term, the policy pays out. The payout stays the same throughout. Simple and effective for most families.
Decreasing Term
The payout decreases over time, usually in line with a repayment mortgage. Because the cover reduces, it is typically less expensive than level term. A sensible option if your primary goal is covering your mortgage balance.
Whole of Life
Covers you for your entire life, not just a set term. The payout is guaranteed whenever you die. Often used in estate and inheritance tax planning. More expensive than term insurance, but appropriate for certain situations.
Who Needs Life Insurance?
If someone depends on your income, or on your presence, you should at least understand your options.
Mortgage holders
Your mortgage does not disappear when you do. Life insurance can ensure your family keeps the home, without the burden of a debt they cannot service.
Parents and partners
If someone depends financially on your income, life insurance replaces what is lost. It cannot replace you. But it can remove financial ruin from an already devastating situation.
Business owners
Life insurance can protect business partnerships, cover key person risk, or fund a shareholder agreement. The business context adds complexity, and Jack advises on this too.
What It Costs, and Why Timing Matters
Life insurance is often less expensive than people expect, particularly when arranged early. Premiums are based on your age, health, smoking status, and the level of cover you choose.
The earlier you arrange it, the lower the cost. Waiting until your health changes or another decade passes means paying more for the same cover, if you can get it at all.
Jack works with a carefully selected range of trusted providers to find the policy that offers the right level of cover at the right premium for your situation. Every recommendation is specific to you.
Factors that determine the cost of your life insurance premium.
Common Questions
Answered honestly. If your question is not here, Jack is happy to discuss it.
How much cover do I actually need?
There is no universal answer. A useful starting point is to think about: your outstanding mortgage, your dependants' living costs for 10 years, any debts, and any future obligations like school fees. Jack will work through this with you to arrive at a figure that is genuinely adequate, not just a round number.
Does it matter when I take it out?
Yes, significantly. Premiums are based partly on your age and health at the time of application. The younger and healthier you are when you arrange cover, the lower the cost. Waiting rarely helps. If your health changes in the interim, you may find cover more expensive or harder to obtain.
What happens if I have a pre-existing condition?
Some conditions are excluded, some result in a higher premium, and some make no difference at all. It depends on the insurer and the condition. Jack will search across the available providers to find the best outcome for your circumstances.
Should the policy be written in trust?
In most cases, yes. Writing a life insurance policy in trust means the payout passes directly to your chosen beneficiaries, quickly and without forming part of your estate for inheritance tax purposes. Jack will always discuss this with you as part of the advice process.
What if I already have life insurance through work?
Death in service benefit from an employer can be valuable, but it typically ends when your employment does. It may also be insufficient for your actual needs. Jack will help you understand what you have and whether it is genuinely enough.
Book a Conversation About Life Insurance
The first conversation is free and carries no obligation. Jack will help you understand your options, work out the right level of cover, and find a policy that fits from a range of trusted providers.
