Insurance and protection
Buying your new property is only half of the story; keeping your home and your belongings inside protected from whatever life may throw your way is equally important. We all spend hundreds, if not thousands of pounds each year protecting our personal belongings such as our phone, car or our precious holidays. Why should we neglect our home and not keep it protected in an equal way?
As well as being Mortgage experts, we are also specialists in providing you with the right cover to keep a roof over you and your family, should you face difficulty at any point.
Best of all, you don’t need to be a Mortgage client of ours for us to review your current insurance and protection packages! We can still help you and will make sure you have the right cover that you need.
Life is always full of unpredicted twists and turns. Even during these difficult periods, can you rely on your finances to be stable? If you are unfortunate enough to experience a death, illness or redundancy in your family, are you confident that your finances are suitably protected? If you are uncertain, then our specialists can help. There are lots of different ways to protect your home and mortgage should something happen to you.
Finding the right protection package, in some instances, can be more complicated than the mortgage process due to the number of moving parts involved in finding what works best for you. Making sure you have the right sort of protection policy in place can be a confusing job and that is where we come in. To help you understand how it all works and what the different policies do, our experts are on hand to guide you through the decision making.
Are you worried about a previous protection policy you have? Your needs change over time and therefore the insurance you arranged a few years ago may not be right for you anymore. Allow us to review your existing insurance and protection policies, we will make sure you have the right cover and find you the best deal.
There are many different insurance and protection
policies, ranging from life insurance and critical illness
cover, to buildings and content insurance and income
protection. Each policy is completely unique to you
due to the different factors that need to be considered
before arranging a policy. Not all of these policies
will be applicable to you, so it’s important to get the
right advice based on your individual circumstances to
secure you the right deal for the right price.
Life Insurance is a type of insurance policy that will pay out a lump sum to your family when you die. This can be used in any way your family see fit, for example to pay off the mortgage or funeral costs and is designed to give peace of mind that your loved ones won’t struggle financially in the event of your death. You will pay a monthly premium, usually for a fixed term that is matched to the length of your mortgage. Should you die during this term, the policy will pay out a tax-free lump sum to your dependants or beneficiaries. The amount you will pay for life insurance is based on your age, health, any pre-existing medical conditions, the type of policy, how long you need the cover for and also how much cover you require.
Critical Illness Cover is a type of insurance policy that will pay out a tax-free lump sum should you be diagnosed with a critical illness during the length of your term. Again, this is usually matched with the length of your mortgage and is paid on a monthly basis. How much you pay will depend on factors such as your age and health, your job, your hobbies and your lifestyle. The pay out can be used however you see fit; to pay the mortgage or other debts, seek out private medical treatment or even just enjoy your life with your family. Critical illness can be purchased alongside life insurance, or as a standalone policy if you have this in place already.
Income Protection is a type of insurance policy that will pay you a tax-free, regular monthly income if you are unable to work due to illness or injury. The amount of cover you take out is based on a percentage of your income, typically between 50% and 70%. Should you need to claim, the policy will pay out until either you are able to go back to work or until the end of the term, retirement, or death - whichever occurs first. How much you pay will also depend on the deferral period - the amount of time between when you make a claim and the income payments begin. The longer the period, the cheaper the payments. However you should first consider if you can manage on sick pay or your own savings in this time.
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As specialists in providing protection and insurance policies, we are also able to offer other
services such as Buildings and Contents Insurance and Redundancy Insurance. Call us today to book an appointment where we can discuss your needs and help find the right deal to protect you and your loved ones.
what is so important about protection?
what options are available?
AS WITH ALL INSURANCE POLICIES, CONDITIONS AND EXCLUSIONS WILL APPLY.