Protection does not need to cost the earth. And lots of people are finding that even a relatively small amount of cover helps their families cope when disaster strikes.
There are many types of cover available on the market today and we have listed these below.
However, we would always recommend that you speak with a qualified expert adviser who will be able to assess your individual situation and advise on the right type of protection products to suit the circumstances of you and your family.
We will also discuss the benefits of placing policies in trust.
To get a personalised quote on any of the covers listed below, please contact one of our protection experts.
Mortgage Payment Protection
This is one of the most common protection products as a mortgage payment is often someone’s biggest commitment.
Commonly known as Accident, Sickness and Unemployment cover (ASU), this can give you peace of mind knowing that, in the event of redundancy or illness, your mortgage payments will be made and your home will be safe.
Most standard mortgages do not have any protection insurance included, so it's important to decide what kind of separate cover you need.
Usually payments are made for up to a maximum of 12 months, but if you would like to be covered for longer than this you may want to consider taking out income protection.
This offers borrowers the security of knowing that their essential repayments will be made if they are off work due to an accident or sickness.
For example, if you are in an accident and are unable to work for a while, a lack of comprehensive income protection cover means you will rely solely on state benefits, which are unlikely to be sufficient to meet your mortgage repayments, let alone any other essential spending.
Income protection can help as it provides a tax-free monthly payment until you are able to return back to work.
Life Assurance gives you the comfort of knowing that your loved ones will be provided for should you die. There are many different ways to arrange life cover and we can help you find the most appropriate plan available.
When linked to a mortgage, Life Assurance ensures that in the event of death your mortgage will be repaid. This means that your dependants will be left with a mortgage-free roof over their heads.
There are two common types of Life Assurance linked to a mortgage, Level Term and Decreasing Term.
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 through the term of this policy, usually to coincide with the reducing debt on your mortgage.
Critical Illness Cover (CIC)
CIC is similar to Life Assurance but it pays out on diagnosis of certain illnesses as opposed to only paying out on death.
Buildings and Contents Insurance
Buildings insurance will cover your home from such events as fire, flood and subsidence.
If you are buying a property (as a home for you to live in or as a Buy-to-Let investment), we will offer you Mover’s Protection. This type of protection will cover you from the unexpected when moving.
You may face the possibility of finding yourself out of pocket because of survey/legal fees if your house purchase falls through.
But don't worry, through us you will receive cover for up to £1,850 against solicitors, valuation and mortgage fees incurred.
Cover will vary dependent on individual circumstances. Exclusions apply, arrange to speak to an adviser for full details.
For insurance business we offer products from a choice of insurers.
Because we play by the book we want to tell you that…
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.