Who needs life insurance?

Life insurance is beneficial for a wide range of people, particularly those whose death would financially impact others. Key groups who often need life insurance include: Parents with Minor Children: If a parent dies, the loss of their income or caregiving skills could create a financial strain. Life insurance can provide funds to cover childcare costs and living expenses, ensuring the children's financial needs are met. Couples: If one partner passes away, the surviving partner may struggle with financial obligations like a mortgage or debts. Life insurance helps mitigate this financial burden. Individuals with Dependents: This includes not only children but also adults who may depend on you financially, such as aging parents or a disabled relative. Homeowners with Mortgages: Life insurance can be used to pay off a mortgage, relieving your family of a significant financial obligation. Business Owners: Life insurance can be crucial for business succession plans, helping to ensure the business continues smoothly after the owner's or a key employee's death. People with Debts: To prevent debts from being a burden to family members, life insurance can provide the means to settle those obligations. Individuals Looking to Leave a Legacy: Even if you don’t have financial dependents, you might want to leave a financial gift to a loved one or a charity. High Net Worth Individuals: For those with substantial estates, life insurance can provide liquidity to pay estate taxes without the need to sell off assets. In summary, anyone who has financial dependents or obligations that could become a burden to others after their death should consider life insurance. It is a tool for managing financial risk and ensuring the financial security of those you care about.

What types of life insurance are available?

In the UK, several types of life insurance are available, each designed to meet different needs and circumstances. The main types include: Term Life Insurance: This is the most straightforward type of life insurance. It provides coverage for a specific period or 'term' (e.g., 10, 20, or 30 years). If the policyholder dies within this term, the policy pays out. If the policyholder survives the term, the coverage ends without any payout. Whole Life Insurance: Unlike term insurance, whole life insurance covers the policyholder for their entire life. As long as premiums are paid, the policy will pay out no matter when the policyholder dies. These policies also have a cash value component that can grow over time. Universal Life Insurance: This is a more flexible form of whole life insurance. It allows policyholders to vary their premium payments and the death benefit, and it also has a cash value component. Decreasing Term Insurance: Often used for mortgage protection, the cover decreases over the term of the policy, typically in line with a repayment mortgage balance. Joint Life Insurance: This covers two people on a single policy, paying out on the first or second death, depending on the policy terms. It's often used by couples. Over-50s Life Insurance: Specifically designed for older individuals, this insurance offers guaranteed acceptance for those in a certain age group, typically 50 to 80 years old, without the need for a medical examination. Each type of life insurance has its own features, benefits, and limitations, and the right choice depends on individual circumstances, financial goals, and the level of coverage needed. MMB Finance will advise you to determine the most suitable type of life insurance for your specific situation.

Can anyone take out a life insurance policy?

Most people in the UK can obtain life insurance, but eligibility and the cost of premiums can vary significantly based on several factors. These include: Age: Life insurance is available to adults of varying ages, but premiums generally increase as you get older. Younger applicants typically find it easier and cheaper to get coverage. Health: Your current health and medical history are crucial factors. Those in good health usually get better rates. Pre-existing medical conditions can increase premiums or, in some cases, may lead to denial of coverage. Lifestyle: Factors such as smoking, alcohol consumption, and high-risk hobbies can affect eligibility and premiums. Occupation: People in high-risk jobs may face higher premiums or have difficulty obtaining coverage. Coverage Amount and Type: The amount of coverage and the type of policy you choose also affect eligibility and cost. Larger coverage amounts or policies with more features (like whole life insurance) typically cost more. Length of Policy: For term life insurance, the length of the term can influence both eligibility and cost. While most people can get life insurance, those with significant health issues, dangerous jobs, or lifestyles may find it more challenging and expensive. However, there are policies like over-50s life insurance, which offer guaranteed acceptance, usually without a medical exam, but these often have lower coverage limits and higher premiums. It is always advisable to shop around and MMB Finance will give you independent advice to find the most suitable and affordable option for your specific circumstances.

LIFE INSURANCE - PROTECTING YOUR FAMILIES AND LOVED ONES DESIGNED TO FIT YOUR UNIQUE LIFE STYLE

At MMB Finance, we understand that life is unpredictable, but your financial security shouldn't be. Our bespoke life insurance solutions are tailored to fit your unique lifestyle, ensuring that your loved ones are protected, even in your absence. With a range of flexible policies, we offer the peace of mind you deserve, safeguarding your family's future against life's uncertainties. Trust us to help you secure a legacy of care and stability for those you cherish most. Choose MMB Finance – where your family's protection is our priority.

Secure Your Future with MMB Finance: Expert Advice for Life and Critical Illness Cover

At MMB Finance, we recognise that every individual has a unique journey, and we are committed to ensuring that your life's path is secured with comprehensive life insurance and critical illness protection. With a dedicated advisers in Swindon is at the forefront of providing personalised advice, guiding you to the insurance policy that best fits your lifestyle and needs. We take pride in our ability to offer face-to-face consultations, fostering trust and understanding that are crucial when making decisions about your family's future. With MMB Finance, you gain more than just an insurance policy; you gain a partner who values your peace of mind as much as you do. Let us help you navigate the complexities of life insurance, so you can focus on what matters most – living your life with confidence and security.

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Secure Your Family's Future with MMB Finance: Customised Life Insurance for Your Unique Lifestyle

MMB Finance, we understand that protecting your family is your top priority. That's why we offer bespoke life insurance solutions designed to fit your unique lifestyle and provide peace of mind. Our team of dedicated Insurance Advisers in Swindon is committed to guiding you through the complexities of life insurance and critical illness protection. We believe in empowering you with knowledge, enabling you to make informed decisions that safeguard your loved ones' futures. With a variety of policies tailored to meet diverse needs, MMB Finance stands as Swindon's premier independent life insurance and critical illness protection specialists. Choose MMB Finance, where your family's security is our enduring commitment.

Term Life Insurance - offering life insurance with the added benefit of comprehensive critical illness protection that can extend to your children. The policy ensures that if the unthinkable happens, you're financially prepared, providing a safety net during challenging times, giving you peace of mind that your loved ones are protected.

Whole Life Insurance - Whole Life Insurance - Unlike term insurance, whole life insurance provides coverage for the policyholder's entire life, as long as premiums are paid. It also includes a savings component, known as cash value, which grows over time and can be borrowed against or withdrawn.

Decreasing Term Insurance (Mortgage Protection) - designed to reduce alongside your mortgage, ensuring your loved ones are not burdened with a mortgage debt. Additionally, can include Critical Illness Protection offers a safety net, providing financial support during the toughest times. This can also be extended to cover your children, giving you peace of mind that their well-being is protected too.

Joint Life Insurance - are designed for couples who wish to have comprehensive protection that ensures in the event of tragedy, the surviving partner is provided for. Policies can pay-out upon the first or second death based. It's a practical, shared solution for peace of mind, knowing that you and your loved one are protected together.

Gift Inter Vivos' Policies -Secure your legacy and protect your loved ones from unexpected tax burdens with a Gift Inter Vivos policy. This specialized insurance safeguards the value of your gifts against inheritance tax, ensuring that your generosity is preserved even after you're gone. With a fixed term and decreasing cover that aligns with taper relief, it's the prudent way to keep your gifts as intended: a blessing, not a financial burden.

01793 524 444

What Is Life Insurance and critical illness protection?

Life insurance and critical illness protection are essential components of a robust financial plan, offering peace of mind and security for the unforeseen. Life insurance provides financial support to your beneficiaries in the event of your passing, ensuring they can maintain their standard of living and meet financial obligations without your income. Critical illness protection complements this by offering a tax-free lump sum payment if you are diagnosed with a specified serious illness. This can be invaluable in covering medical expenses, replacing lost income, or even paying off debts, allowing you to focus on recovery without financial stress. Together, these protections ensure that you and your loved ones are covered, not just in the event of death, but also if you face a life-altering illness. Investing in life insurance and critical illness protection is not just about risk mitigation; it's about ensuring continuity and stability for you and your family's future.

Securing Tomorrows future and Protecting Your Family

Life insurance is crucial for families, as it offers financial protection in the event of the untimely death of a breadwinner or caregiver. The death benefit from a life insurance policy can help cover immediate expenses, such as funeral costs and outstanding debts, as well as long-term financial needs, like living expenses, mortgage payments and children's education costs.

Life insurance is not just about providing for the unexpected; it is about ensuring ongoing stability for your loved ones.

The Importance of Life Insurance To Protect Your Family

Life insurance is not just about providing for the unexpected; it is about ensuring ongoing stability for your loved ones.

Tailoring Life Insurance Policies For Your Needs

Every family's situation is unique, and so are their life insurance needs. Factors such as the number of dependents, income levels, existing debts, and future financial goals all play a role in determining the appropriate level of coverage. We at MMB Finance offer personalised consultations for families in Swindon and the surrounding region, to understand your family's specific needs and guide you in selecting the right life insurance policy.

Life Insurance as Part of Family Financial Planning

Life insurance should be an integral part of your family's financial plan. It is not only about protection, but also about planning for the future. We help families in Swindon consider how life insurance can fit into a broader financial strategy, ensuring that all aspects of your financial health are aligned and secure.

Reviewing and Updating Life Insurance Policies

As life changes, so do your insurance needs. Major life events like the birth of a child, a change in income, or purchasing a new home may necessitate a review and adjustment of your life insurance coverage. We encourage regular policy reviews to ensure that your life insurance continues to meet your family's evolving needs.

We are committed to providing families in Swindon with expert, personal and compassionate advice on life insurance. We understand the importance of protecting what matters most to you and are dedicated to helping you secure the right coverage for your family's needs. Contact us to start a conversation about how we can help safeguard your family's future.

01793 524 444

Critical illness insurance Safeguarding you

In the UK, safeguarding your family's future is paramount, especially considering the stark statistics surrounding critical illnesses. Look at the following statistics:

Cancer: - According to Cancer Research UK, around 1 in 2 people in the UK will be diagnosed with some form of cancer during their lifetime.

Heart Attack: - The British Heart Foundation reports that there are around 100,000 hospital admissions each year in the UK due to heart attacks, which equates to one every five minutes. The lifetime risk varies, but it's significant, especially with increasing age and risk factors such as smoking, high blood pressure, and high cholesterol.

Stroke: - The Stroke Association states that there are over 100,000 strokes in the UK each year. One in six people will have a stroke in their lifetime.

Other Critical Illnesses: - Conditions such as chronic obstructive pulmonary disease (COPD), major organ transplants, and severe burns also fall under critical illnesses, but specific lifetime risk statistics for these conditions vary widely based on individual health factors and lifestyle.

Why Critical illness insurance is important?

We understand that peace of mind is priceless, especially when it comes to your health. That's why we offer Tailored Solutions for Critical Illness Insurance Protection, designed to provide comprehensive coverage when you need it most. Our bespoke policies ensure that you and your loved ones are financially secure, allowing you to focus on recovery without the burden of financial stress. Trust MMB Finance to safeguard your future with a policy that fits your unique needs.

Children's Critical Illness Cover?

Protecting your family's future is paramount, and with Children's Critical Illness Cover, you can ensure that if the unthinkable happens, you're prepared. This cover is automatically included when you add Critical Illness Cover to your life insurance policy, safeguarding your children from 30 days old up to their 18th birthday, or 21st if in full-time education. With benefits like the Child Accident Hospitalisation Benefit and Child Funeral Benefit, you can have peace of mind knowing that support is there when you need it most.

Tailored Solutions for Critical illness insurance protection

MMB Finance offers comprehensive Critical Illness Cover, providing peace of mind for families during the most challenging times. Tailored solutions ensure that the specific needs and budgets of each family are met, with flexible options to adapt coverage as circumstances change. The cover includes a range of child-specific conditions, ensuring that your loved ones are protected against the unexpected. With MMB Finance, you can secure a financial safety net, allowing you to focus on what matters most: the health and well-being of your family and children.

Ongoing Support and Advice

The business world is dynamic, and your life insurance needs may evolve as your business grows and changes. We offer ongoing support and advice, ensuring that your life insurance solutions remain aligned with your business strategy. Regular reviews and updates to your policies ensure that your coverage continues to meet your business needs.

We are dedicated to supporting the growth and sustainability of businesses in Swindon through comprehensive life insurance solutions. Our expertise in the field allows us to offer advice and products that not only protect your business, but also contribute to its long-term success. Contact us to discuss how we can help secure the future of your business with the right life insurance strategy.

01793 524 444

What Makes MMB Finance's Life Insurance Services Unique In Swindon?

Face-to-Face Service

Another advantage of being independent and our long experience as financial advisers is that we are able to provide you with a full range of financial services, including mortgages, second charge loans, buy-to-let mortgages, life insurance, family protection insurance, buildings and contents insurance, estate planning, will writing and personal finance planning, amongst others.

This means that we are able to advise you on your entire financial position, rather than only specific parts. This could help you save cost, in the long-term, by ensuring you have the right financial services for your circumstances.

No Fees For Life Insurance Advice

We charge no fees^* for our Life Insurance advice to you, which means our advice is effectively free!

Most Life Insurance advisers, such as estate agents and other businesses offering Life Insurance usually charge a broker's fee on top of the commission they receive from the lender. You can be assured that you will not be charged such fees by us.

^* Please note that the exception to this is where we are dealing with a complex case, when fees will be discussed and agreed in advance.

Local Knowledge & Experience

We tend to concentrate on working locally, within a 40 mile radius of Swindon (Gloucester, Cheltenham, Bristol, Bath, Cirencester, Oxford, Reading) and have strong ties to Swindon and its surrounding regions. Many of our loyal clients have been with us for over 25 years and we regularly review and update their financial plans. Our reputation is strong, as is our customer satisfaction, with many positive reviews from previous clients.

Our local knowledge brings experience of the local market and its trends. This crucial information can make a difference to the advice given to you, as local influences can be very different to national trends. Therefore, our local knowledge is used to make sure you have sound financial advice to give you the financial services which are best for you.

100% Independent Life Insurance Broker

MMB Finance has been a leading independent Life Insurance brokerage in Swindon since 1996 and has over 35 years of industry experience. Being independent means we are not tied to any bank, building society or lender of any type. Consequently, you can be assured that you will always receive objective Life Insurance advice, which is suited to your personal situation.

Furthermore, being an independent Life Insurance broker, we have access to any lender, bank or building society in the UK, which gives you access to the best possible Life Insurance product for your needs.

Full Range of Financial Services

In this age of online communication, all too many financial advisers never actually meet their clients to discuss the best solutions for them. At MMB Finance, we pride ourselves on working on a face-to-face basis wherever possible to discuss your finances in a friendly and relaxed way in your own home or office. Our Life Insurance advice is tailored to your personal circumstances and goals, so it makes sense to meet in-person so that all aspects of your finances are taken into account when advising you on your Life Insurance.

Frequently Asked Questions About Life Insurance

Life insurance is a financial product designed to provide protection and security for individuals, families or businesses. When a policyholder dies, life insurance offers a lump sum payment, known as a death benefit, to their designated beneficiaries. This payout can help cover various financial needs such as:

Individual Protection: For an individual, life insurance can help cover personal debts, funeral expenses, and provide financial support to their dependents.
Family Security: In a family context, the death benefit can ensure that the family maintains its standard of living, pays off mortgages, and funds future needs like children's education.
Critical illness insurance Stability: Secure the future of your loved ones with our Critical Illness Insurance. It's a robust safety net designed to alleviate financial stress in the event of serious health conditions. Our comprehensive coverage ensures that you can focus on recovery without worrying about the economic impact on your family and children. Invest in peace of mind today to protect your family's tomorrow.

Overall, life insurance acts as a safety net, ensuring financial stability and peace of mind in the face of life’s uncertainties.

Life insurance is beneficial for a wide range of people, particularly those whose death would financially impact others. Key groups who often need life insurance include:

Parents with Minor Children: If a parent dies, the loss of their income or caregiving skills could create a financial strain. Life insurance can provide funds to cover childcare costs and living expenses, ensuring the children's financial needs are met.
Couples: If one partner passes away, the surviving partner may struggle with financial obligations like a mortgage or debts. Life insurance helps mitigate this financial burden.
Individuals with Dependents: This includes not only children but also adults who may depend on you financially, such as aging parents or a disabled relative.
Homeowners with Mortgages: Life insurance can be used to pay off a mortgage, relieving your family of a significant financial obligation.
Critical Illness Protection: offering financial stability during some of life's most challenging moments. It's designed to alleviate the economic strain that can come with serious health conditions, ensuring that individuals can focus on recovery without the added stress of financial burdens. This type of insurance is particularly beneficial for a broad spectrum of individuals, providing peace of mind and support when it's needed most. Whether facing a sudden severe illness or managing a long-term condition, critical illness insurance stands as a pillar of financial and emotional support.
People with Debts: To prevent debts from being a burden to family members, life insurance can provide the means to settle those obligations.
Individuals Looking to Leave a Legacy: Even if you don’t have financial dependents, you might want to leave a financial gift to a loved one or a charity.
High Net Worth Individuals: For those with substantial estates, life insurance can provide liquidity to pay estate taxes without the need to sell off assets.

In summary, anyone who has financial dependents or obligations that could become a burden to others after their death should consider life insurance. It is a tool for managing financial risk and ensuring the financial security of those you care about.

In the UK, several types of life insurance are available, each designed to meet different needs and circumstances. The main types include:

Term Life Insurance: This is the most straightforward type of life insurance. It provides coverage for a specific period or 'term' (e.g., 10, 20, or 30 years). If the policyholder dies within this term, the policy pays out. If the policyholder survives the term, the coverage ends without any payout.
Whole Life Insurance: Unlike term insurance, whole life insurance covers the policyholder for their entire life. As long as premiums are paid, the policy will pay out no matter when the policyholder dies. These policies also have a cash value component that can grow over time.
Critical Illness and Life Insurance: It allows policyholders to vary their premium payments and the death benefit, and critical illness protection and it include children or not.
Decreasing Term Insurance: Often used for mortgage protection, the cover decreases over the term of the policy, typically in line with a repayment mortgage balance.
Joint Life Insurance: This covers two people on a single policy, paying out on the first or second death, depending on the policy terms. It's often used by couples.

Each type of life insurance has its own features, benefits, and limitations, and the right choice depends on individual circumstances, financial goals, and the level of coverage needed. MMB Finance will advise you to determine the most suitable type of life insurance for your specific situation.

Most people in the UK can obtain life insurance, but eligibility and the cost of premiums can vary significantly based on several factors. These include:

Age: Life insurance is available to adults of varying ages, but premiums generally increase as you get older. Younger applicants typically find it easier and cheaper to get coverage.
Health: Your current health and medical history are crucial factors. Those in good health usually get better rates. Pre-existing medical conditions can increase premiums or, in some cases, may lead to denial of coverage.
Lifestyle: Factors such as smoking, alcohol consumption, and high-risk hobbies can affect eligibility and premiums.
Occupation: People in high-risk jobs may face higher premiums or have difficulty obtaining coverage.
Coverage Amount and Type: The amount of coverage and the type of policy you choose also affect eligibility and cost. Larger coverage amounts or policies with more features (like whole life insurance) typically cost more.
Length of Policy: For term life insurance, the length of the term can influence both eligibility and cost.

While most people can get life insurance, those with significant health issues, dangerous jobs, or lifestyles may find it more challenging and expensive. However, there are policies like over-50s life insurance, which offer guaranteed acceptance, usually without a medical exam, but these often have lower coverage limits and higher premiums.

It is always advisable to shop around and MMB Finance will give you independent advice to find the most suitable and affordable option for your specific circumstances.

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