As well as securing you the best mortgage for your circumstances, our job is also to make sure we protect you against losing your home! Purchasing your home is probably the biggest financial commitment you will ever make, so it’s essential to make sure you have the right protection in place to safeguard your home and family.
The impact on a family losing their home or income should an individual die, become critically ill or lose their job, would be very difficult at what would already be a stressful time. It is our job to provide comprehensive advice and explain the importance and benefits of protection coverage and how it could add a little peace of mind to you and your family. Your mortgage and protection adviser will explain all the options to you.
A life insurance policy allows you to leave money behind for your partner or family when you die. Most policies will provide a single lump sum payment which can be used to provide financial security during a time of uncertainty. For example, the money could pay off your mortgage or replace a lost income.
Life insurance is particularly valuable for individuals who have dependents relying on their income, share financial obligations with a partner (like a mortgage), or want to leave a legacy or help family members financially after their passing.
There are three main types of life insurance:
A critical illness policy pays out a lump sum if you are diagnosed with a serious illness or injury. Some policies also provide payments if a child is diagnosed with certain types of critical illness, giving parents the ability to take time off work to help with treatments. Each policy is different but most provide cover for up to 100 illnesses, including:
The funds can be used in any way you choose – the most common uses of pay-outs from this type of cover are repaying debts (such as a mortgage) or taking time away from work whilst recovering from illness or undergoing treatments. You’ll never have to pay the money back, even if you make a full recovery.
Critical illness plans can be tailored to any budget and our qualified advisers can help you to choose the right amount of cover.
We want you to have complete trust and confidence in us, but also that you’re receiving the very best service. That’s why we offer our 100% mortgage guarantee and an unconditional service guarantee.
You will never be out of pocket by working with us and we stand or fall by our word!
An income protection policy provides a regular, tax-free monthly income if you are unable to work through a sickness or injury, as long as it’s certified by a doctor. This means you can concentrate on making a full recovery instead of worrying about how to pay the bills.
We can help you to choose how much coverage you would like and set payments to start from day 1 of your sickness or after a delayed period (in instances where you have company sick pay or could use savings to pay the bills for a short time).
You can typically choose to continue to receive the monthly payments for 1 year, 2 years or until you plan to retire. Payments will continue to be made until you can return to work or until the policy ends (the length of which you can also choose).
Family Income Benefit (FIB) is a particular type of life insurance policy which provides a regular monthly payment to your family in the event of death, rather than a one-off lump sum payment.
This protection is often particularly suitable to support families with children, so if you already have children or are deciding to start a family then FIB should be considered. But it isn’t just for families with children – it can work in any situation where you’d like to leave an income behind for someone you care about.
Family income benefit insurance will pay a monthly sum for a fixed period when you take out the cover; this is usually until your child or children reach a certain age. As with any insurance coverage, the cost is based on several different things but FIB is seen as the most budget-friendly insurance for individuals and families.
Life is full of uncertainties, and protecting your loved ones financially is one of the most meaningful ways to ensure their security. Whether it’s safeguarding your family’s lifestyle, covering unexpected expenses, or ensuring they have the resources to carry on after you’re gone, having the right protection in place can make all the difference during challenging times.
The right protection policy provides peace of mind, knowing that your family will be supported when it matters most. From covering essential costs like mortgage payments and household bills to replacing lost income or funding medical treatments, these policies act as a safety net that keeps life moving forward even when faced with the unexpected.
No matter your situation, these protection policies are designed to give you and your family the financial confidence to face whatever the future holds. Speak to us today to protect what matters most.
Assess your debts, future expenses, and family needs.
Decide whether you need temporary or lifelong coverage.
Ensure your premiums are affordable over the long term.
With any protection cover you should always take advice about the best way to protect yourself and your family. We are here to give you guidance and information on what options are available and the best cover for your circumstances.
If you would like completely fee-free protection advice please give us a call us on 0800 138 5856 or get in touch below.
