Your Protection
When it comes to financial decisions, taking out a mortgage is often one of the most significant ones you’ll ever make. Consequently, it’s a good idea to review your protection arrangements and ensure they remain up to date when applying for your mortgage.
With the abundance of search facilities available, you might wonder why you need advice. The reason is simple: we are here to ensure that you obtain the right cover for your specific circumstances, at a price that fits your budget.
Our objective is to provide you with a tailored protection solution that safeguards you and your family in the event of unexpected circumstances. Additionally, we will discuss the benefits of placing your policy in trust, without incurring any extra cost.
Protection doesn’t have to be exorbitant in cost, and many individuals are discovering that even a modest amount of cover can greatly assist their families when faced with adversity.
Life Insurance
Life insurance is an insurance agreement designed to provide a lump sum payment to your dependents in the event of your passing away or being diagnosed with a terminal illness during the policy term. Its purpose is to ensure financial support for your loved ones after you are no longer present. The cost of a life insurance policy is influenced by several factors, including your age, health, and lifestyle.
Having life insurance offers reassurance, knowing that your family would be financially safeguarded if you were to pass away. The lump-sum payout they receive can be utilised to cover essential expenses such as mortgage or rent payments, as well as to assist with the costs associated with raising children.
Critical Illness
Critical illness cover provides essential financial assistance in the event that you become ill and are unable to work. This type of insurance policy offers valuable support for various purposes, such as mortgage payments, compensation for lost earnings, covering household bills and accessing private medical treatment
Critical illness cover is commonly offered as an additional option that can be included in a life insurance policy. In some cases, certain policies already include critical illness cover as a standard feature. Our advisors are available to help you determine whether critical illness insurance is suitable for your needs or assist you in adding it to your existing life insurance policy.
Income Protection
Income protection encompasses a range of insurance products designed to ensure that you can fulfil your financial obligations even if you are unable to work for an extended period.
In situations where you are unable to work due to an accident, illness, or involuntary job loss, income protection insurance provides you with a predetermined portion of your salary on a monthly basis. This financial support can be utilised to manage debt payments, cover bills, and handle other expenses. Income protection is particularly beneficial for individuals employed in hazardous industries who seek assurance that their mortgage payments will always be met.
It is important to note that income protection only covers events that are beyond your control. If you are terminated from your job or deliberately inflict an injury upon yourself, the likelihood of being covered under income protection diminishes.
Mortgage Protection
Mortgage life insurance can provide valuable protection if you have dependents, such as your family, residing in the home that was purchased with the mortgage. Given that mortgages represent significant financial commitments, the unfortunate event of your passing away could lead to your family falling behind on payments and potentially facing the risk of home repossession.
By obtaining mortgage life insurance, you can ensure that your family is equipped to meet the mortgage repayments and continue living in the home without financial strain.
However, if you do not have any dependents or individuals residing in your home who would be responsible for continuing the mortgage repayments, mortgage life insurance may not be necessary. In such cases, there would be no need for someone else to assume the responsibility of ongoing mortgage payments.