Life Insurance
Create a secure financial future for your family.
Explore flexible life insurance options and get the protection you need to safeguard your family’s financial future.
Why life insurance matters
What would happen to your loved ones if you weren’t around? It may be a difficult question, but the answer is simple: life insurance.
With life insurance, you can offer your loved ones a financial safety net when they need it most. The payout can help with daily living costs, mortgage payments, or your children’s education.
Most importantly, life insurance brings peace of mind, knowing your family will be looked after, no matter what happens.
Why choose Holborn for life insurance cover?
Getting advice from an expert is one of the best ways to make sure you get the cover you need.
Over a third of people who buy life insurance work with a financial professional to find the right policy. Here’s why many choose Holborn to help with their life insurance:
Independent
We are not tied to a single provider, meaning we can compare multiple life insurance policies to help you find the right cover for you.
Trusted
We work with leading insurance providers to get you the high-quality coverage you need.
Flexible
We offer a variety of life insurance options, so you can pick the policy and coverage that works best for you.
Key features and benefits of life insurance
Financial security
Help your loved ones stay financially stable if something happens to you.
Protection
A life insurance policy can help pay off debts or cover your children’s education costs in the future.
Tax benefits
Life insurance payouts are not taxed as income or capital gains. Putting your policy in a trust can offer extra tax advantages.
Flexible
There are many options, so you can choose a life insurance policy that works for you.
How much life insurance cover do I need?
The amount of cover you need depends on a few things, like how much you want to leave behind, your remaining mortgage, and any other debts. Also, think about any current life insurance, savings, or investments you have.
Use our life insurance calculator to work out how much cover you may need.
The different types of life insurance we offer
Permanent life insurance
A permanent life insurance policy, or whole of life protection, gives you lifelong coverage. As long as you keep paying your premiums, your policy stays active. Some policies also build cash value over time.
Since permanent life policies offer lifelong coverage, they usually have higher premiums than term life policies.
Indexed universal life insurance
This type of insurance offers more flexibility than a permanent life policy. Indexed universal life insurance (IUL) offers lifetime cover and wealth-building options. The cash value component is linked to the stock market.
Term life insurance
A term life insurance policy covers you for a set number of years—usually 10, 20, or 30. If you pass away during this time, your family will get a lump sum payment.
There are three types of term life cover:
- Decreasing: The amount of cover goes down each year.
- Increasing: The amount of cover grows over the length of the policy.
- Level: Cover and premiums stay the same throughout the term.
How life insurance works
Get a life insurance quote
We help you compare policies to find the right level of cover.
Choose your cover
Choose the type of cover you want, either permanent, term life, or indexed universal life insurance, and the amount of coverage.
Start your policy
Get a policy and make monthly payments to keep it active.
Make a claim
If you pass away during your policy term, your loved ones can submit a claim to the insurer.
Receive a payment
Once approved, they will get a payout, either a lump sum or in monthly payments, depending on the policy.
Plan today and protect your family’s future
Life insurance is one of the best ways to financially support your loved ones after you are gone. Get expert advice and find the right policy for you and your needs.
Life Insurance FAQs
Term life insurance covers you for a specific period (term) and pays out if you pass away during that time. Permanent life insurance provides lifelong coverage and has a cash value component that can grow in value over time.
The cost of life insurance depends on a few things. Permanent policies usually have higher monthly premiums than term life cover. Factors that can affect the price include your age, your job, medical history, the type of cover, and the level of cover.
Standard life insurance only covers death. However, for an additional cost, many policies allow you to add critical illness as an add-on, providing a lump sum payout if you are diagnosed with a terminal or serious illness.
Yes, many insurers allow you to adjust your policy or add additional cover. It’s often recommended to review your life insurance cover as your circumstances change. For example, after getting married or having children.
Yes, you can have multiple policies at the same time. However, it’s important to assess whether having multiple life policies is the right strategy. It may be more beneficial to make changes to your existing policy rather than taking out separate cover.
In the UK, you do not pay Income Tax or Capital Gains Tax (CGT) on life insurance payouts. Depending on your situation, your beneficiaries may have to pay Inheritance Tax (IHT) unless the policy is written into a trust.