Life Insurance
Life Insurance
What is Life Insurance?
Life Insurance is a type of insurance that can help minimise the financial impact that you and/or your partner’s death could have on your loved ones, family and lifestyle. If either of you die or you are diagnosed with a terminal illness, you could receive a cash lump sum to assist your loved ones and family during this difficult time.
How does Life Insurance work?
You choose the amount of cover you need and how long you need it for. Life insurance can be taken out as a single policy or as a joint policy with your spouse.
The cash lump sum could help pay the mortgage or help with everyday living expenses and provides peace of mind for you knowing life insurance can help financially protect your loved ones in your absence, if the unthinkable was to happen.
Do I need life insurance?
Life insurance will depend on your individual circumstances and can provide provide peace of mind for people with children, partners or spouses that depend on them financially, as well as people with a mortgage.
Are you eligible for life insurance?
We can help most people, but typically you will be;
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at least 18 years of age
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currently living in the UK
Are all life insurance policies the same?
There are typically two types of life insurance;
Level Term Life Insurance
Level term life insurance allows you to choose a cash sum amount that remains the same throughout your policy term. Your monthly premiums will be a guaranteed figure for the duration of the policy, therefore offering financial assurance that the premiums will not change.
Decreasing Life Insurance
Decreasing life insurance is often taken out to protect a mortgage. You choose a term duration that covers the length of your mortgage repayments, and the cash sum decreases roughly in line with the way a repayment mortgage decreases. The premiums are guaranteed to remain the same each month but, are generally lower, due to the fact the cash sum reduces over time.
Speak to the team at Steel and Co. today to receive expert advice on your insurance needs based on your individual circumstances.
By speaking to our team you will receive;
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Help and advice if you are unsure about the protection you need.
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Make recommendations for protection to suit your personal circumstances
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Help in submitting an application
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A personal and friendly service throughout
Call 01502 446000 or email