This is cover that pays out on death. Some plans pay upon earlier confirmation of a terminal illness where the prognosis is death within 12 months. Proceeds can pay out as a lump sum or as annual amount for the remainder of the policy term.

Cover can last for a set term called Term Assurance, or can last throughout life, called Whole of Life.

The amount of cover can remain the same or increase/decrease annually. Level term assurance stays the same throughout. Decreasing cover is sometimes used to cover a reducing debt, such as a repayment mortgage and usually assumes a given interest rate. Provided your mortgage rates don’t exceed that rate, then the cover should reduce at around the same rate as the mortgage. The amount you pay is called the premium. It can either be guaranteed not to change, or it can be reviewable.

Reviewable cover normally changes based on the claims experience of the life assurance company.

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THE PLAN USUALLY WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE. 

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A LIFETIME MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION. EQUITY RELEASE WILL REDUCE THE VALUE OF YOUR ESTATE AND MAY AFFECT YOUR ENTITLEMENT TO MEANS TESTED BENEFITS.

What were the circumstances that caused you to initially look for an adviser?
For our mortgage application

How has Jenny Whyte helped you?
With the mortgage application and made the entire process so much easier and speedy.

Have you seen the outcome you were hoping for?
Yes we were able to purchase our property within a two month period

What could they have done better?
Nothing as Jenny was excellent and I have since referred her to others

Jenny's reply
Thanks Linda and for recommending me to your friends! I will be in touch soon to discuss your remortgage.

Review from verified client
London - June, 2023

How We Can Help.

See below for the services we offer

Mortgages

Whether you're a first time buyer, looking to remortgage or buy-to-let, we can help.

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or call us
07855 767968
 

07855 767968
21 Otteridge Road,
Bearsted,
Maidstone ME14 4JR.

jenny.whyte@roseacremortgages.co.uk