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Mortgage Protection
Mortgage protection is a type of insurance coverage specifically designed to help homeowners meet their mortgage payments in the event of unforeseen circumstances that impact their ability to pay in situations such as redundancy, illness, accident, or disability. It helps protect their homes from the risk of repossession due to mortgage non-payment.
The primary purpose of mortgage protection insurance is to replace a portion of the insured person's income, specifically the amount needed to cover their mortgage payments. This ensures that the policyholder can continue to meet their mortgage obligations during challenging times.
Life Insurance
Life Insurance will pay out either a lump sum or regular income should you pass away, it is the most well-known type of insurance and will provide financial support to your partner or dependents in the event of your death.
A 'Term Assurance' policy means you can choose how long you want the cover to last for, for example this could align with your mortgage term to ensure your mortgage is paid off.
A 'Whole of Life' policy means the policy has no specific end date. It provides cover until your death so can be used to cover funeral costs for example.
Policies can also include many additonal benefits to increase the level of cover offered, these can include counselling and bereavement support, access to remote GP's 24/7, Health MOTs and gym and retail discounts etc. We will help you choose the most suitable option for you and your family.
Critical Illness Cover
Critical illness cover is designed to offer financial protection when a serious illness or health condition disrupts your life. This type of cover will pay out if you are diagnosed with a specified serious illness. Some policies include over 50 named conditions with cancer, heart attack and stroke being the three main conditions. This cover therefore eases money worries at a time when health needs to be your priority. Policies can also provide children's cover, this means a lump sum can be paid out if your child is diagnosed with a serious illness in order to provide support for your family and to help with treatment.
Not every illness is covered and it doesn't relate to whether you are able to continue working or not - coverage varies between insurance companies, we will hep you to find the most appropriate cover for your circumstances.
Income Protection
How would you pay your bills if you stopped receiving your income due to illness or injury? Income Protection is a financial safety net designed to provide you with a portion of your income in the event you are unable to work due to illness, injury or disability. It pays you a regular weekly or monthly benefit so that you can continue to meet financial commitments and living expenses. It covers both mental and physical illnesses and injuries that prevent you from working. Policies can be tailored to your specific needs that suit your particular circumstances, ensuring you can maintain your lifestyle without depleting your savings or going into debt, they can also provide practical support such as physiotherapy and counselling to aid your recovery.