LIFE ASSURANCE
Life Assurance provides a tax-free lump sum which is paid out upon death. When you take out a mortgage, it ensures that your mortgage is repaid, therefore removing any worry from your loved ones.
The main difference between life assurance plans is whether the level of cover remains fixed (level term) or decreases over time.
Level Term Assurance provides a set level of cover for the term you choose.
Decreasing Term Assurance covers you for the term you choose, but the level of cover decreases throughout the term of the policy. It is usually at a rate which coincides with the reducing balance of the mortgage.
We can help you to find the most appropriate plan for you. Click to Contact Us.
CRITICAL ILLNESS
It isn’t nice to consider if your family would be able to cope financially, should you become seriously ill, and no longer able to earn a living. However, it is important to think about if they would struggle to pay the mortgage, or other household bills.
Critical illness cover is a form of insurance which will pay out a tax-free lump sum if you are diagnosed with a specific illness, or medical condition during the term of the policy.
It gives you financial peace of mind and eases monetary pressures following the diagnosis of a covered condition. It will also pay out if an insurance policy holder unfortunately becomes permanently disabled through either injury or illness.
Cover under these policies can vary widely, so please contact us and we will be happy to discuss with you.
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INCOME PROTECTION
Would you be able to pay your bills if you were sick, accidentally injured, or unable to work?
Worrying about maintaining your mortgage payments could become an additional burden during what will already be a stressful time.
If the unexpected does happen, an Income Protection policy gives you peace of mind and can provide the following benefits:Income which will help to replace any loss of earnings, due to ill health or accidental injury
- Income which will help to replace any loss of earnings, due to ill health or accidental injury
- Continued benefit if you return to work in a reduced capacity, and with a lower salary
They also provide cover over varying time periods, e.g. 12, 24 or 60 months and sometimes even up to retirement. Please get in touch to discuss your needs with us in more detail.
Income Protection plans offer no cash-in value at any time. It is important to continue to pay your premiums or your policy ends and you will no longer be covered. There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website: www.fsa.gov.uk
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BUILDINGS & CONTENTS
Building and Contents insurance is more commonly referred to as home insurance. When you are taking out a mortgage there will be a condition that you insure the buildings of the property because this protects the lender’s security. And as soon as you exchange contracts to purchase your home, you become legally responsible for it.
Buildings Insurance covers the bricks and mortar of your home, together with any fixtures and fittings within the property itself.
It protects against events such as:
- Fire
- Flood
- Subsidence
- Storm damage
- Burst pipes
- Vandalism
Contents insurance covers the possessions within your home. There are different levels of cover, dependent on the value of your contents, and if you want to protect them against accidental damage. Contact us to discuss the level of cover which is right for you.
Business protection is also a consideration if you are buying your premises or want to insure your stock or other assets [link to BRAINS]. This is something we can help you with too.
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