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New Year New You – time to re-assess your life insurance cover?


Is it time to reassess your protection?

Time seems to pass so quickly and here we are already in 2022.

Over the last two years so much has happened and yet, so little has changed. Many of us take a bit of time to pause over Christmas and New Year and think about what we want to achieve in the year ahead. Some want to re-decorate, some want to move or even buy a holiday home. For those who have moved out to the country, they might even think about a city bolthole for when they go back to the office a little more often.

Thanks to the pandemic, one thing at the back of many people’s minds is “Do we have enough life cover?”

If only the answer was as simple as the question!

Three main things to considered:

  1. Should the unthinkable happen and someone dies will there be enough money to clear any mortgage so any family can stay in their home? Once that is sorted, is there enough money to maintain ‘normal’ life?
  2. Should someone be ill or incapacitated for an extended period will their income continue? If the ability to work and earn money is taken away chances are lifestyles will have to change–a lot.
  3. If someone has a critical illness, e.g. cancer, stroke, heart attack, etc., do they want financial stress as well as recovery stress?

None of the above questions are much fun to ask and even less fun to answer. For those born in 1980, males are expected to live until age 70 and females age 76 (ONS data 09/02/2022). These are just averages, so for all those living beyond 70 or 76, there are, unfortunately, plenty who will pass away earlier.

What are you willing to spend?

All the above questions are relatively easy to ask compared to the next one though–if this is all a concern, what are you prepared to spend on it?

Life cover, income protection, and critical illness cover are nothing new. They have all been around for a long time but whilst numerous subscription services vie for our attention and money, maybe more of us should be preparing for the worst whilst hoping for the best?

So possibly the key question is… do you know how much it would cost to get some cover?

It isn’t as expensive as you think

Just as an example – £250,000 of decreasing life cover for a repayment mortgage over 30 years for a 40-year-old non-smoker can be as little as £22 per month!

The easiest way to navigate the best providers and the most appropriate levels of cover for you and your loved ones is to talk to an adviser. When is the best time? Today? Tomorrow? The day before something happens?  We leave that up to you but we are here when you need us–please contact us at or call us on 0207 220 5110 and let’s talk about what’s important to you.

You can find out more about insurance on our insurance page or read our Coreco Mortgage Protection Guide.

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Andrew Montlake

Written by Andrew Montlake

Andrew Montlake, better known as Monty, began his journey with an Hons degree in Economics & Politics before starting in the mortgage industry in February 1994. As a main founder of Coreco in 2009, he successfully grew the brand, marketing, and communications, and was made MD in 2019 focussing on the overall vision, strategy, and culture of the company. As Coreco’s media spokesperson, Andrew can often be seen or heard on TV and radio as well as regularly commenting in the national, local, and trade press. He is the author of this acclaimed Mortgage Blog and is well-known for his social media, podcasts, and public speaking. Andrew is now proud to serve as Chairman of the Association of Mortgage Intermediaries, (AMI) as a cheerleader for the Mortgage Industry as a whole and continues to work at the coal face, writing mortgage business and advising clients.

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