At BM14 Finance, we offer traditional life insurance to people who meet the insurer’s minimum and maximum age requirements and qualify under the insurer’s underwriting criteria. As your protection advisor, we explain how it works in the simplest way and help you pick a plan that fits your family.
You pay a small amount every month. If you pass away while the policy is running, the insurance company pays money to the people you choose, like your partner or your children. They can use that money to pay off the mortgage, cover rent and bills, look after the kids or pay for the funeral. Many plans also pay out early if a doctor says you are terminally ill and may have less than 12 months to live.
There are a few kinds, and each one fits a different need. Family life insurance protects the people who depend on you, so they can keep their home and daily life going without your income.
Relevant life insurance is for people who work through a company, like employees and directors of a small business. The company pays the monthly cost, and in most cases it is treated as a business cost.
Guaranteed life insurance is for people who may find normal cover hard to get, often those over 50. You get accepted without health questions, but the monthly cost is usually higher, and many plans pay less if death happens in the first year or two. One more thing to know: life insurance doesn’t pay if the po
The best time to get life insurance is when someone would be in trouble without your money. Think of it like an umbrella. You buy it before the rain, not during it. Good moments are when you buy a home or take a mortgage, move in with a partner or get married, have a baby, take a big loan or start a business. The younger and healthier you are, the cheaper it is, and the price goes up as you get older. So sooner is usually better.
Can anyone get it? Most adults living in the UK can apply, but the insurance company has some rules. They look at your age, because every insurer has a youngest and oldest age to start cover. They ask about your health, and some conditions can raise the price or need extra checks. They also ask if you smoke, what job you do and what hobbies you have, because smoking and risky work or hobbies cost more. Lastly, they look at how much cover you want and for how many years. This whole check is called underwriting. If one insurer says no, another may say yes, and that is where an advisor helps. By the way, always answer the questions honestly, because wrong answers can lead to a refused claim later.
We provide tailored life insurance advice based on your personal circumstances. With access to a wide panel of insurers, we help you choose cover that fits your family’s needs both now and in the future.
Yes, you can. There is no UK law that stops you from holding more than one policy. People often do it on purpose, for example one policy to cover the mortgage and another to look after the family's daily costs. Each policy pays out on its own when a claim is made. Just tell each insurer about your other cover when you apply, because they may ask.
In the UK, lenders usually do not force you to take life insurance with a mortgage. But in real life, you need it if someone else would struggle to pay the mortgage without you. Ask yourself two things: if I passed away, could my partner still pay the monthly bill, and could my family keep the home? If the answer is no, you need cover. It is also a good idea to check your cover when you take your first mortgage, remortgage, move home, add a partner to the loan or have a baby. If any of this sounds like you, speak to a mortgage and protection advisor at BM14 Finance. We can look at your mortgage and your cover together, so the amount and the length match your loan.
Yes. Many people build their cover in layers, because different needs last for different lengths of time. A mortgage may run for 25 years, while the kids may need support for 18. So you may take one policy for each need and let each one end when its need ends. This can match your real life more closely than one big policy. A protection advisor can check that you are not paying twice for the same need.
Here is how it works with BM14 Finance:
Yes, it can be possible, but not for everyone. It depends on the type of cancer, when you were diagnosed, what treatment you had and how long it has been since you got the all-clear. Some insurers accept you at a higher price. Some wait a few years after recovery. Some may say no. Every insurer decides in its own way, so please speak to a financial protection advisor before you apply. They will go through your details with you and tell you if you are eligible and which insurer is most likely to accept you. And please never hide your health history, because that can cause problems with a claim later.
