Life Insurance

Level or decreasing
Cover types
All sums assured
Cover of every size
Whole of market
All major insurers
What we arrange
✓Level term life cover
✓Decreasing (mortgage) cover
✓Family & income protection
✓Cover written in trust
✓High-sum-assured cover (£1m+)
✓Regular reviews (3-5 years)
If you have a mortgage, your family needs protecting against the unforeseen. Life cover can be arranged on a level basis (interest-only) or decreasing to match a repayment mortgage.

Life insurance pays a lump sum to your family or estate if you die during the policy term. For most people with a mortgage or financial dependants, it is a fundamental piece of financial protection, ensuring that those who rely on your income are not left with unmanageable debt or a sudden drop in living standards.

Soul Mortgages advises on life insurance as part of a wider protection review, ensuring you have the right type of cover, the right level, and the right provider for your circumstances.

Types of Life Insurance

  • Level term: Pays a fixed lump sum if you die within the term. Best suited to interest-only mortgages or those who want a consistent payout regardless of when a claim is made
  • Decreasing term: The payout reduces over time, in line with a repayment mortgage balance. Typically cheaper than level term and widely used for mortgage protection
  • Whole of life: Provides cover for the rest of your life rather than a fixed term, useful for inheritance tax planning and estate protection
  • Joint life: Covers two people under one policy, paying out on the first death

How Much Cover Do You Need?

The right level of cover depends on your mortgage balance, your income, your family’s outgoings, and any existing policies or death-in-service benefits you may have through your employer. We work through this with you to make sure you’re not over-insured or under-insured.

Life insurance is generally very affordable, particularly if arranged at a younger age. Premiums are fixed for the policy term, so acting early locks in lower rates.

Get life insurance advice →

Life Insurance, your questions answered

How much life insurance do I need?
A common starting point is enough to clear your mortgage and leave your family financially secure, but the right figure depends on your debts, income, dependants and any existing cover. We help you work out a realistic amount rather than over- or under-insuring.
What is the difference between level and decreasing term cover?
Decreasing cover reduces over time, roughly in line with a repayment mortgage, and is usually cheaper, ideal for covering the loan itself. Level cover stays the same throughout the term, which suits interest-only mortgages or leaving a fixed lump sum. We match the type to your mortgage and goals.
Should I put my life insurance in trust?
Often, yes. Writing a policy in trust can mean the payout reaches your chosen beneficiaries quickly, usually outside your estate for inheritance tax, and without waiting for probate. We can arrange this as part of setting up your cover.
Can I get life insurance if I have health conditions?
Usually yes. Many conditions are covered at standard or slightly adjusted terms, and specialist insurers consider cases others decline. We know which providers look most favourably on particular circumstances.