As always, this depends on your individual circumstances and goals. For example, if you are taking out the policy to ensure your home is protected, you clearly need to  have a policy big enough to pay off your mortgage.

However, critical illness payments are often used to convert people’s homes after a serious illness, e.g. the addition of a stair lift, wider doors or a downstairs toilet for ease of access.

As always, if you are unsure in any way, seek our help.

This depends on your individual circumstances, in particular whether you can afford a long ‘deferred’ period, e.g. one year. Often, this will depend on the amount of time your employer will support you when you are off work. Be sure to discuss this with an experienced broker, as you don’t want to be caught short.

It’s vital to review your life cover on a regular basis, but certainly when there are major changes to your life, such as the birth of a child, a marriage, a new job or home.

The premiums for life assurance policies vary according to your personal circumstances, for example, age, medical history and your goals. Your choice of life assurance company can also affect premium levels: some will naturally be more competitive than others. Speak to an experienced mortgage adviser to ensure you are getting the best rate.

Your first consideration should be the level of insurance cover required. Ask yourself questions such as: how much money do I need to pay off all my debts? How much money do my dependents require to live the same lifestyle that they currently enjoy?

Once you have decided on the level of cover, you then must decide on the type of insurance required. Do you want a policy that pays out a lump sum or one that provides a regular income? Do you want to pay a little more and use your policy as a savings plan? Do you even want a plan that pays out irrespective of whether you die during the lifetime of the policy?

Once this has been established, you are in a position to compare the premiums required by the various life assurance companies. However, you should always read the terms of the policy to check any restrictions or exclusions contained within it, such as death caused by undertaking a hazardous pursuit.

The life assurance company must decide if you are an acceptable risk. If you, or any members of your family, have a history of illness, they will want to check on your general state of health before deciding what premiums to charge for the insurance cover you require.

In most cases, life assurance companies are able to offer terms without the need for you to undergo a medical, although they do have the right to request an examination if they feel it is necessary.

However, just because they request a medical does not necessarily mean they are going to charge you higher premiums.

In short, yes! The reason for this is that any benefit you have through your existing job won’t transfer or move with you if you leave that position.