Life Insurance
Protect your family's financial future — a tax-free lump sum if you die during the policy term.
Life insurance is one of the most straightforward and important financial products available. If anyone depends on your income — a partner, children, or ageing parents — life insurance ensures they are not left financially vulnerable if you die. We search the whole market to find the right type of cover, the right level of cover, and the most competitive premium for your circumstances.
What is Life Insurance?
Life insurance pays a tax-free lump sum to your beneficiaries if you die during the policy term. The money can be used however your family chooses — to pay off the mortgage, replace lost income, cover childcare costs, clear debts, or simply provide financial security. There are several types of life insurance, and the right choice depends on what you are trying to protect. Level term insurance pays the same lump sum throughout the policy term — suitable for replacing income or leaving a legacy. Decreasing term insurance reduces over time in line with a repayment mortgage — the most cost-effective way to protect a mortgage. Whole of life insurance has no fixed term and pays out whenever you die — often used for inheritance tax planning. Family income benefit pays a regular income rather than a lump sum — useful for replacing a salary over a set period. We will explain the options clearly and recommend the most appropriate structure for your needs.
Who is it suitable for?
Key Benefits
Real-World Examples
Young family with a repayment mortgage
A couple with two children have a £320,000 repayment mortgage with 22 years remaining. They take out a joint decreasing term life insurance policy, written in trust. If either parent dies, the policy pays out enough to clear the mortgage — ensuring the family keeps their home regardless of what happens.
Self-employed professional — no death-in-service
A self-employed architect has no employer and therefore no death-in-service benefit. She takes out a 20-year level term policy for £500,000, written in trust for her partner and children. If she dies during the term, her family receives a lump sum to replace her income and cover living costs for years to come.
Company director — Relevant Life Plan
A company director currently pays £85/month for personal life insurance from post-tax income. By switching to a Relevant Life Plan — a tax-efficient form of life insurance arranged through his company — the premiums are paid by the company as a business expense. The same cover costs significantly less in real terms. We arrange both personal and company-funded life insurance.
Inheritance tax planning — whole of life
A business owner in her 60s has an estate likely to be subject to inheritance tax. She takes out a whole of life policy, written in trust, to cover the anticipated IHT liability. The policy pays out whenever she dies, providing her family with the funds to settle the tax bill without having to sell assets.
Frequently Asked Questions
Request Your Relevant Life Quote
Find out if your business protection is adequate, correctly structured, and as tax-efficient as it could be.
Why Choose JK Insurance Brokers?
- Whole-of-market access — all leading insurers
- FCA authorised & regulated (FRN 1047042)
- No broker fees — ever
- Business protection specialists
- Personal, one-to-one service with Tom Dobbe
- UK-wide advice by phone or video call
- Ongoing reviews as your business grows
Speak Directly to Tom
I help company directors and business owners protect their families, shareholders and businesses.
01737 333249[email protected]