Does Life Insurance have to be associated with a mortgage?

No it does not. Many policies are used to provide additional financial security for the family.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

Hot Topics

What is the difference between Life Assurance and Life Insurance?
Life Assurance has an investment value but Life Insurance does not.
Should you include Terminal Illness Insurance?
You probably won’t need to - most policies include Terminal Illness cover free of charge on all Life and Critical Illness policies.
Should you include Critical Illness cover on your Life Insurance policy?
You should certainly consider taking out Critical illness cover whether you combine it into your Life Insurance policy (which is by far the cheapest way to buy both insurances) or you take out separate policies (which gives you far more protection – see below).
What is the Difference Between Critical Illness Insurance and Terminal Illness insurance?
Critical Illness Insurance is much more comprehensive than Terminal Illness cover.
Should your policy be written “in Trust”?
We believe that all Life policies should be written “in trust”.
Many people consider Life Insurance to be a vital aspect of financial protection. Many people simply want it to help provide a tax-free lump sum for their family or relatives if they were to die. This provides some financial peace of mind if the worst were to happen.

Whilst there is no legal requirement to protect a mortgage with Life Insurance, it nevertheless makes great sense. The insurance is there to repay the mortgage lender if the mortgage holder were to die. Sometimes it is one of the mortgage lenders conditions that you take out Life Insurance to cover a mortgage.

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