We often ask clients one simple question: “What would happen to your family if you weren’t here tomorrow?” For many, the thought is overwhelming - but it’s a reality worth preparing for. Life insurance is the most fundamental form of financial protection, and it should be the starting point for any protection plan.
Life insurance is a policy that pays out a lump sum (or sometimes a regular income) if you pass away during the term of the cover. That payout can be used by your loved ones to:
There’s no one-size-fits-all when it comes to life insurance. The right option depends on your needs, your family, and your financial commitments.
1. Level Term Insurance – Pays a fixed lump sum if you die during the policy term.
2. Decreasing Term Insurance (Mortgage Protection Cover) – The payout reduces in line with your mortgage balance, ensuring the home is safe.
3. Whole of Life Cover – Guaranteed payout whenever you die. Often used for inheritance tax planning.
4. Family Income Benefit – Instead of a lump sum, your family receives a monthly income for the remainder of the policy term.
The right level of cover depends on:
A good rule of thumb is to cover at least your mortgage and a few years’ worth of living costs. At Calluna, we’ll help you calculate the right figure for your circumstances.
For most homeowners, their mortgage is their biggest liability. If you were to pass away, would your family be able to keep up the repayments? With life insurance, the answer can be “yes.”
Decreasing term cover, designed to match your mortgage, ensures your family never has to worry about losing the family home.
Life insurance is often the foundation. It’s the “must have.” But it works best alongside other cover such as income protection and critical illness cover. While life insurance protects your loved ones if you die, other policies protect you and your income while you’re still alive.
We understand the local market, we know how mortgages and protection work hand in hand, and we care about finding you the right cover, not the most expensive one. As independent advisors, we have access to a wide panel of insurers and tailor solutions for every budget.
Life insurance is the cornerstone of protection. It’s about security, peace of mind, and ensuring that the people you love most don’t face financial hardship at the worst possible time.