If you are purchasing a leasehold flat, buildings insurance is commonly arranged by the freeholder or managing agent and included within your service charge. It is worth confirming this at an early stage — ideally before exchange of contracts — so you are not duplicating cover or left uninsured. Always ask your solicitor or managing agent to confirm what is included. 

There are several types of life cover, and the right one depends on your mortgage type and personal circumstances. 

Level cover — the payout amount stays the same throughout the policy term. This is often used where the aim is to provide a lump sum for the family beyond just clearing the mortgage. 

Decreasing cover — the level of cover reduces over time, broadly in line with a repayment mortgage balance. Because the cover reduces, it is generally the most cost-effective option for those whose primary goal is to ensure the mortgage is repaid. 

Increasing cover — the cover grows gradually over time, usually linked to inflation. This helps ensure the real value of the payout does not erode over a long policy term. 

Policies can also be arranged on a single life basis — covering one person — or a joint life basis, which covers two people under one policy and typically pays out on the first death. Your adviser can help you identify which structure makes most sense for your household. 

Employer life insurance — often called death-in-service — is a valuable benefit, but it comes with limitations. You do not own the policy, the payout amount is typically a fixed multiple of salary rather than based on your mortgage or family needs, and the cover ends the moment you leave that employer. We always take workplace cover into account, but we generally recommend having your own policy as well — one that you own, that reflects your actual circumstances, and that stays with you regardless of where you work. 

Not necessarily, but it is worth reviewing. If your existing policy was arranged before your current mortgage, it may not reflect the outstanding balance, your current income, or changes in your family situation. Taking on a new mortgage is one of the most common triggers for a policy review. Find out more about reviewing your existing cover → 

This is one of the most common things we hear — and one of the most important to address honestly. Technically yes, but in practice it rarely happens. Once a mortgage completes, the focus shifts entirely to the house move, settling in, and managing the new financial commitments. Protection quietly moves to the back burner. 

We recommend starting the conversation as soon as the mortgage application is submitted. Some insurers require GP reports or medical tests before they can confirm terms, and this process takes time. Starting early means you can have everything agreed and ready to begin from completion — and if you need to delay the policy start date for any reason, most insurers will accommodate this. Leaving it until after completion makes the whole process harder and more likely to be forgotten altogether. 

It is natural to feel that serious illness is something that happens to other people. But the statistics suggest otherwise — around one in two people in the UK will be diagnosed with cancer at some point in their lifetime, and heart disease and stroke remain among the leading causes of working-age illness. 

The question worth sitting with is not “will this happen to me?” — it is “if it did happen, what would the financial impact look like for my household?” Could your family maintain the mortgage payments if you were unable to work for six months? A year? Longer? Critical illness cover exists precisely for that scenario — not to predict misfortune, but to make sure that if it arrives, your family has financial breathing space while you focus on recovery. 

Employer sick pay is a valuable benefit, but it is worth understanding exactly what it provides before assuming it is enough. Most employers offer full pay for a limited period — commonly one to three months — followed by statutory sick pay, which is currently a little over £100 per week. For someone with a mortgage, household bills, and a family to support, that gap can become serious very quickly. 

It is also worth asking: what happens if you change jobs, become self-employed, or your employer’s sick pay policy changes? Income protection is yours — it is not tied to where you work, and it does not disappear when your circumstances change. A moment spent thinking through “what would our finances look like if I couldn’t work for six months?” is often all it takes to understand why this cover exists. It is not about expecting the worst — it is about making sure the worst does not become a financial crisis on top of everything else. 

For many people, yes — and it is something that is often overlooked. Placing a life insurance policy under a trust means the payout goes directly to your chosen beneficiaries without forming part of your estate. This can avoid delays through probate and, in some cases, reduce inheritance tax liability. It is a straightforward step that costs nothing extra and can make a significant difference to how quickly and efficiently your family receives the money. Learn more about placing life insurance under a trust →