Unsung Heroes Of Insurance

Life Insurance and Mortgage Protection


From now until about 2020 we’ll be getting, on average, four comic book movies which will showcase heroes saving the day or being there to generally help people in some form or another. A key element of every superhero story is the unsung hero who goes unnoticed but makes the biggest impact on the lives of others. Heroes come in all sizes and in the insurance world the unsung heroes has to be Life Insurance and Mortgage Protection.

I like to think of Life Insurance as the Batman of the insurance industry as it is stealthy, reliable and silent but there for you when you need it most. Like Batman, you could also add that Life Insurance is an under appreciated hero. Don’t believe me? Let’s look at some of the ways that Life Insurance is an unsung hero for those who might need it someday.

  • Guaranteed lump sum if you die within the term of the policy.
  • Death benefits are generally income-tax-free to the beneficiary. Can vary due to the relationship of the recipient to the policy holder as well as the sum they stand to receive.
  • Genuine financial security for your dependents when they need it most.
  • Not as expensive as most people think.
  • Option to include specified serious illness cover.
  • You can link it to the age you feel your youngest child will be financially dependent. (E.g. your youngest child is 2 so the recommended term is 23 years).
  • Easy to arrange.
  • Many Life Insurance policies are exceptionally flexible in terms of adjusting to the policyholder’s needs.
  • Can help clear any future mortgage repayments that the policy holder’s family may otherwise be financially responsible for.

If Life Insurance is the Batman of the insurance industry then Mortgage Protection has to be Superman. Mortgage Protection is a form of Life Insurance which helps the policy holder’s family pay off the remainder of their mortgage if the policy holder were to die during the life time of their mortgage. Much like Life Insurance the level of Mortgage Protection you get depends on the individual policy holder with the policy being guaranteed for the lifetime of the mortgage.

Both Life Insurance and Mortgage Protection offer security to the policy holder and their family should anything happen to the main income provider. Finally an additional asset of both policies is that they are easy to set up and applicants are not always expected to undergo a medical exam. This varies on a case by case basis but your insurer will be able to tell you more about the procedures involved and if you are required to undergo a medical to set up your policy.

If you want to learn more about either type of policy don’t worry you won't need a bat signal to get some help. Our experienced and knowledgeable team are here to help answer questions you might have about setting up these types of policies or how to switch from your current insurer.