A decreasing term assurance is the least expensive of the term assurance policies and repays your mortgage debt in the event of death during the period of the loan (s, this is also because the sum assured reduces in line with the outstanding mortgage debt.
All insurers will request information on your family (natural parents and siblings) medical history when insuring you. If your family members have type two diabetes, then some insurers may add a rating upon disclosure which means your monthly premium may increase. Insurers will also need to know about any history of heart attacks/stroke/angina or heart disease if a family member has both Diabetes and issues related to their Hearth than, you would likely be regarded as a greater risk.
Insurers also look at other factors such as your BMI, whether you have had any screenings for the condition(s) along with your age.
We will be able to indicate what your monthly payment may be, once we have completed all of our research so that you would know if an increased premium may apply and the reason for the increase.
To help you achieve the coverage, you require without going through the rigmarole of numerous applications; we can provide specific providers quotes that will offer the most favourable terms. You can then make a decision based on this, with no obligation to take the cover out.
Please remember: failure to disclose anything that is requested may result in the insurer cancelling your policy and not paying out.
There is a minimum age to buy life insurance; this limit can vary by insurers. Generally, the life insured will need to be at least 18 years old to take out a financial contract such as an insurance policy.
We work with a large number of lenders that offer mortgages where there have been issues with credit in the past.
The rules around Buy to Let mortgages were changed in 2017 by the Prudential Regulation Authority (PRA). They defined a portfolio landlord as an individual who has more than four mortgaged properties.
Whether you own investment properties, solely, jointly or in a Limited Company, the team at Key Life Financial Services are well versed and experienced in this area and, can provide you bespoke and specialist advice tailored to your circumstances.
There are three repayment methods available:
Capital & Interest – Your monthly payments will include repayment of the capital (loan amount borrowed) and interest. Your mortgage will reduce over time and will be repaid in full at the end of the term.
Interest Only – Your monthly payments will only pay the interest charges on your loan, and not any of the capital borrowed. Your outstanding mortgage balance will not reduce over the mortgage term and will still need to be repaid off in full at the end of your mortgage term.
Part Interest Only/ Part Repayment – This is a combination of capital repayment and interest only. The capital repayment element will be paid off by the end of the term. However, the interest-only element will still need to be repaid off in full at the end of the mortgage term.
Income protection only covers earned income and is not affected by other sources of income.
Yes, smoking Shisha would class you as a smoker. Insurers would, therefore rate the premiums accordingly.
If your family is lucky enough to have a decent sized lump sum of money when you die, then you might not need life insurance.
The point of a conversation about protection is not to sell you something; it’s to evaluate your needs and more importantly advise you if you actually need it and affordability.
Our advisers will go through your individual or family circumstance and discuss this in detail with you.
Depending on the type of cancer, stage and how long ago you had your very last appointment before discharge, yes you may be able to get cover. Some insurers would like you to have been fully discharged from certain cancers for over 5 years, some longer.
During our fact finding stage, we will need to provide all of your medical information to the underwriting team who will let us know if they would be able to offer terms.
In all cases, the insurer will request further information from your GP.