Life Insurance
Helping Protect the People Who Matter Most
Life Insurance provides financial security for your loved ones if you pass away during the policy term. It is designed to pay a tax-free lump sum to your chosen beneficiaries, helping them manage financial commitments and maintain their lifestyle during an incredibly difficult time.
The payout can be used for any purpose, including paying off a mortgage, replacing lost income, covering household expenses, funding children’s education, or helping your family plan for the future.
How Life Insurance Provides Financial Security for Your Loved Ones
When you take out a Life Insurance policy, you choose the amount of cover and the length of the policy term. If you pass away during the policy term and your claim is accepted, your insurer will pay the agreed tax free lump sum to your chosen beneficiaries, helping them meet ongoing financial commitments and providing greater financial security and peace of mind for the future.
Life Insurance vs Family Income Benefit
Both policies provide financial protection for your loved ones if you pass away during the policy term, but they pay benefits in different ways. Life Insurance typically provides a one off tax free lump sum, while Family Income Benefit pays a regular tax free monthly income until the policy ends. Many families choose both types of cover to provide broader financial security and ongoing support.
Why Choose Life Insurance?
Life Insurance helps provide financial security for your loved ones if the unexpected happens. It can help protect your family’s future by providing a lump sum payment to support essential financial commitments.
Tax treatment depends on individual circumstances and may change in the future.
Provides a tax free lump sum payment to your chosen beneficiaries, subject to applicable tax rules.
Helps repay a mortgage or other outstanding financial commitments.
Supports your family’s long term financial wellbeing and stability.
Can help cover everyday household expenses and future education costs.
Provides reassurance that your loved ones will receive financial support when they need it most.
Who Can Apply for Income Protection?
Eligibility varies between insurers. They typically assess the following factors before approving cover and determining your premium.
- Your Age
- Medical History
- Lifestyle
- Smoking Status
- Family Medical History
- Underwriting Assessment
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FAQ’s:
Life Insurance is a policy that pays a tax-free lump sum to your chosen beneficiaries if you pass away during the policy term, helping provide financial security for your loved ones.
You choose the amount of cover and the policy term. If you die during the policy term and your claim is accepted, the insurer pays the agreed benefit to your beneficiaries.
Life Insurance may be suitable for homeowners, parents, couples, first-time buyers, self-employed professionals, business owners, and anyone with financial dependants.
Your beneficiaries can usually use the payout for any purpose, including paying off a mortgage, covering household expenses, replacing lost income, funding education, or helping with other financial commitments.
Life Insurance benefits are paid free of Income Tax. However, tax treatment depends on individual circumstances and may change in the future.
Life Insurance pays a one-off lump sum, while Family Income Benefit provides a regular monthly income for the remaining policy term.
Life Insurance pays if you die during the policy term. Critical Illness Cover pays a lump sum if you’re diagnosed with a specified serious illness covered by the policy.
The right amount of cover depends on your mortgage, debts, income, family responsibilities, future expenses, and financial goals.
Yes. Many people choose to combine Life Insurance and Critical Illness Cover to provide broader financial protection.
Yes. Life Insurance is available to employed and self-employed individuals, subject to the insurer’s underwriting criteria.
Premiums are influenced by factors such as your age, health, smoking status, lifestyle, occupation, the amount of cover, and the policy term.
Yes. Smokers can usually obtain Life Insurance, although premiums may be higher than those for non-smokers.
Some insurers allow changes to your policy, while others may require a new application. Your adviser can explain the available options.
Yes. Many Life Insurance policies can be written into trust, which may help ensure the benefit is paid to your chosen beneficiaries more efficiently. Professional legal advice may be appropriate.
If you survive until the end of the policy term, your cover will end and no benefit will be paid out.
Yes. You can usually cancel your policy at any time, although your cover will end once cancelled.
For many people, Life Insurance provides valuable financial security and peace of mind, knowing their loved ones could receive financial support if the unexpected happens.
An adviser will assess your circumstances, recommend suitable cover, complete the application, and guide you through the insurer’s underwriting process.
At Ample Mortgages, we compare protection solutions from a range of insurers to help you find suitable Life Insurance that reflects your personal circumstances, financial commitments, and long-term goals.