Protection
Term Assurance: Straightforward Protection for the Years That Matter
A lump sum for your family if you die within a set number of years, usually matched to the length of your mortgage. It is the simplest policy there is, and normally the cheapest.
- Level or decreasing
- Matched to your mortgage
- Free trust setup
- Whole of market
Free, no obligation, and no credit check to get started.
Term assurance pays out only if you die during the term. If you outlive it, nothing is paid and nothing is returned, which is precisely why it is inexpensive.
Most families take it alongside a mortgage so the home is cleared if the worst happens.
Level or Decreasing
Decreasing term reduces roughly in line with a repayment mortgage, so the payout falls as the debt falls. It is the cheaper option and it does one job well: clearing the mortgage.
Level term keeps the same sum insured throughout. It costs more and it leaves something over after the mortgage is cleared, which matters if children or a partner would need income as well as a home.
How Long Should the Term Be
Two common answers. Match it to the mortgage, so the debt and the cover end together. Or match it to your youngest child reaching independence, which is often longer.
Extending a term adds less to the premium than most people expect, and it removes the risk of needing new cover later at an older age or in worse health. Ask us to price both.
Joint or Single Policies
A joint policy pays once, on the first death, then ends. Two single policies cost a little more, pay out twice if both were to die, and stay with each person if the relationship ends. For most couples the two single policies are worth the small extra.
Putting It in Trust
A policy in trust pays directly to the people you name rather than into your estate. That usually means faster payment and can keep it outside inheritance tax. The insurer’s trust form is free and we complete it with you.
What It Costs
Age and smoking status dominate the price. A healthy non smoker in their early thirties can often cover a typical mortgage for a few pounds a week. The same cover at fifty costs several times more, which is the whole argument for not putting it off.
No paperwork and no credit check. An adviser calls you back with your real options.
Start nowor call 0117 370 6363Frequently Asked Questions
What happens if I outlive the policy?
Nothing is paid and nothing is returned. That is what makes term assurance cheap compared with whole of life cover.
Can I have cover for longer than my mortgage?
Yes, and many people do so their family is protected until the children are independent, not just until the house is paid off.
Does it cover critical illness too?
Not by itself. Critical illness cover can usually be added for an extra premium, or taken as a separate policy.
What if I move house or change my mortgage?
Most policies can continue unchanged, and many allow you to increase cover without new medical questions if you move to a larger mortgage.
Will I need a medical?
Often not. Many policies are accepted on the health questions alone. A medical is more likely with higher sums or certain disclosed conditions.
See what cover for your mortgage would cost
A few questions and a real number, with no obligation to take anything.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Term assurance has no cash in value at any time.
Cover levels, premiums and policy terms depend on your age, health and circumstances. Policy exclusions apply and are set out in the insurer’s key features document.
For mortgage and insurance we do not charge any fee as we are remunerated by commission from lenders and providers.
Infinity Financials Ltd is directly authorised and regulated by the Financial Conduct Authority, FCA registration number 993949. Infinity Mortgage is a trading style of Infinity Financials Ltd.