lif einsurance, writing a will, life insurance inheritance tax, prime financial solutions and mortgages ltd, life insurance quote, last will and testament

Life Insurance and Writing a Will

You can create a comprehensive plan for your family, yet there are some important differences between life insurance and writing a will. Planning your future can fall down your list of priorities (or may not even be a priority for you) when you're already trying to manage the many tasks of daily life and the various stresses that can go with that.

You can create a comprehensive plan for your family, yet there are some important differences between life insurance and writing a will. Planning your future can fall down your list of priorities (or may not even be a priority for you) when you’re already trying to manage the many tasks of daily life and the various stresses that can go with that.

Too many adults in the UK don’t have either one or both of these in place. Too many are simply unprepared for what may suddenly happen. Writing a will (or updating the one you already have) and getting life insurance as well goes hand in hand; nobody usually wants to have thoughts about dying, and the idea of life insurance might not bring the the same excitement as attending a party, buying a new car, going to the cinema or your favourite restaurant, or planning your next summer holiday, ‘but’ both are very important to have in place. Why? Well, understanding the reasons will help.

What is a Will?

A Will is known as a last will and testament. It is a legal document which contains information and instructions to be read to beneficiaries when you die. Ususally a Will will discuss things such as: your property, assets, money, personal belongings,  your money, investments, property, and how these will be distributed amongst beneficiaries.

A charity can also be included in a Will or a life insurance policy as a beneficiary if desired. Usually there will an Executor of a Will and a Guardian of a Will: a Guardian is a legally appointed person or persons chosen by you to take care of your dependents. an Executor is legally appointed to take care of implementing the Will, reading the Will, and informing beneficiaries about the Will.

Every Adult Needs a Will

Wills are highly recommended for people of all ages. Having a Will in place means any decisions after you die can be made by the people you love instead of a Government department or other people.

What is Life Insurance?

Life Insurance is a service / a policy / a contract issued by a Life Insurer, which in essence provides a lump sum pay out of money to your family (death benefit) should you die.   The policyholder makes regular monthly payments and in the event of the policyholder dying, the life insurance company pays a lump sum to designated beneficiaries).

Two Popular Life Insurance Options

Term life insurance is a very popular affordable option for younger people who have families. A lump sum can be paid out to your family should your life end. This type of life insurance is agreed over a set term (number of years) and there is no possibility to withdraw funds on the policy at any time.

Whole life insurance carries a lump sum pay out. Monthly premiums are paid to keep the policy active and this type of insurance is more expensive than Term life. It doesn’t matter when you die or how old you are, a pay out can still be made.

Life Insurance and Last Will and Testament – Are They Similar?

What are the key differences between them? It is recommended that both of these are in place to make sure that your loved ones are taken care of upon your death.

Dependents rely on you they also rely on the financial contributions that you make every day. Imagine if you were to die and you didn’t have any life insurance in place? Who will pay for the funeral and how will your loved ones afford a burial? With your financial contribution gone, what will they do financially? How much easier could you make it for them whilst you’re still alive and able to? You can give them that peace of mind starting from today.

If you don’t have a Will and Testament in place and you die (intestate), your loved ones won’t have any set procedure to follow in terms of what to do with your estate and your assets for example; and they will lose control over how your estate and belongings etc are shared and to whom.  Moreover, if you have children and no will in place, legally those you leave behind won’t have any control over who will look after your children – the legal system will.

So you can begin to understand just how important having a Will plus life insurance in place really is. You can give yourself and your loved ones peace of mind and help to safeguard them for the future.

  • A Will gives your nearest and dearest a lump sum pay out and other assets you might have

You can leave exact amounts of money or percentages of your estate in a will. You can also allocate any possessions, antiques, investments and so on. Beneficiaries can access money sooner if you assign a beneficiary on your life insurance policy instead of assigning to your estate. It can take months to access money via an estate.

  • Life Insurance will pay out a lump sum of money to the important people in your life

When you assign beneficiaries to your life insurance policy, those beneficiaries will receive a lump sum of money on your passing. This sum of money will not form any part of your estate in a Will.

  • You can donate to a Charity in your Will and in your Life Insurance Policy

Do you contribute to any worthwhile charities? Perhaps you would like to donate a portion of money from a Life Insurance policy, or you would like to donate money or assets from your Will? The charity can receive what you offer.

You can create a platform of financial support for your loved ones during exceptionally difficult and emotional times. With Prime Financial Solutions and Mortgages it’s incredibly easy to find a policy that matches your needs. You can also make a will online from the comfort of your own home with easy-to-use platforms you can find using a laptop or a smaller device. While we know that it can be difficult to think about your own mortality, we promise that the peace of mind you’ll gain knowing you have life insurance and a Will ready to protect your loved ones will be well worth it.

  • Control who will take care of your children with a Will

If you and your partner were to die, what would happen to your children? Have you put provisions in place for them? If you have a Will, you can name a Guardian who legally can look after your child / children in every aspect.

Are you Ready for Sudden Life Changes?

Covid and lockdown in the UK and globally has made people think about life more closely in lots of different ways. Priorities and perspective on life and how we live have changed for many as we place extra importance on seeing loved ones happy, healthy and cared for. Having both a Will and a life insurance policy will help you to plan ahead incase the unexpected should happen.

A Life Insurance Broker Will Help You

Life insurance doesn’t always have to be expensive and neither does having a Will. Life insurance can bring much needed benefits and peace of mind. A good ethical broker will always look for deals that are suitable for the client and the client’s budget. An established life insurance broker will find the best quotes from the best insurers, who have access to the Whole Market so a thorough quote search can be made..

Prime Financial Solutions and Mortgages Ltd

If you need help with Life Insurance and any of the following, Prime can help – telephone 01942 665 436:

Have you been Rejected for Life Insurance ?

If you’ve been declined life insurance in the past you could be forgiven for thinking you can’t get covered. Our wide product and provider range means there is a very high chance we can help you no matter what your situation may be. We are authorised and regulated by the Financial Conduct Authority (FCA) in the UK. We carry out a thorough search and compare those to get you the best quotes. There is no fee when you ask us to provide life insurance quotes, and we take the hassle and the stress out of the whole process so you can relax and let us do all the heavy lifting.


Getting the best most suitable life insurance can be a bit of a challenge if you’re not sure what you’re doing. Searching the UK for the best life insurance deals to suit your needs can be complex and time consuming. When you choose Prime, you’re choosing a company that works hard on your behalf to get you great options – that goes for mortgages as well. At Prime we have an exceptional FCA approved team of life insurance & mortgage specialists working for you – you are the focus. We provide excellent one to one services tailor made to your own individual needs and we make your time with us enjoyable and hassle free – we do all the heavy lifting.

Prime is proud of the reputation it has built over many years, and this is largely reflected through the positive reviews we receive on a regular basis from customers in Wigan, Greater Manchester and across UK, in person, on Trust Pilot and Google online.

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Perhaps you have questions ? Like..Can I get insured today? Can we have a joint policy? What information do I have to disclose? What if I leave the country will my life insurance policy still be valid? I have been rejected recently for life insurance, can you still help? Can you write my policy in Trust for me? Our dedicated team of experts can answer any and all of your questions.

Getting a life insurance quote is easy and having a policy in place is a big step forward for you and your family. You can ensure your family is taken care of and give them peace of mind. You can find out more about us and what we do here and if you need help with anything else, Prime can help. Click here to Get a Life Insurance Quote or use our quick contact form to get in touch. Our friendly dedicated team is available by telephone 01942 665 436 during office hours.


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