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Landlord's Life Insurance


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Hi - listening to one of the podcasts (can't remember which one) and it's highlighted something I've not thought about - personal portfolio life insurance to ensure my assets go to my children and not have to be sold if anything happened to me. I have three single buy to lets and am looking to buy another couple over the next year.

Question is - what companies does anyone recommend that are specifically good for personal landlord life insurance cover? I've Googled and am getting back the usual mess of information and would appreciate some recommendations of companies that anyone has used. Lots of info on here for property specific insurance cover but can't see anything on portfolio protection on the life of the landlord / owner

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Hi Stella

I'm not an insurance broker, but isn't it just regular life insurance? Assuming the properties are owned in your personal name, you could arrange enough life cover to repay any mortgages you have against the properties in the event of your death. 

I recently used Life Search in association with Pete Matthews from Meaningful Money after listening to his podcast and reviewed my family's life insurance needs in case something happened to us.

** Note: not paid or affiliated with either of the above, just my personal experience **

 

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It is amazing how many Landlords do not consider what happens when they die. It's easy to presume your next of kin will inherit the portfolio.  Though if they are mortgaged, will they be able to get several BTL mortgages? Do they meet the criteria, experience, home ownership etc.. Will they even want to take over your property empire. Then we come to the Capital Gains Tax, it's great leaving high-value properties to loved ones. Except there is Capital Gains Tax to be paid and HMRC does not do much waiting about. Where are they to get the funds to pay HMRC for CGT? Nevermind the usual reasons non-landlords look at Life Insurance such as to repay home mortgage so kids and partner can continue as normal. Instead of downsizing due to loss of your income stream.

:wub: Get Mortgage Advice from my Team at Bespoke Finance on 08009202001 or email hello@bespokefinance.info 
:ph34r: 
Please don't take my messages on Property Hub as Personal Financial Advice, just a rambling guy passing time on a Coffee Break.
 

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  • 1 year later...

Hi, I can recommend you a good company that I have been working with for a year. There are many companies on the market that offer life insurance, but many of them are not licensed. I chose a proven company, which is used by many of my friends. Moreover, the site has a lot of necessary information that you do not have to search in Google and waste your time. If you still need good company contact these guys lifeinsurancehelpdesk.com. They quickly and inexpensively make life insurance that you can be sure of

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This sounds like you need simple life insurance 'Term Assurance' which pays out a lump sum on your death - available from many well known companies eg L&G, Aviva etc.

Get a couple of different quotes and go with a company you feel comfortable with. If you are not too old & in good health it should not be expensive.

Make sure you write a will too!

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