we are your protectors
Protection
This section explores some of the different protection options that would be available to you. We give full advice and recommendation on protection products as well as mortgages and we’ll scan through different providers to make sure you have the best protection for you. This is one of the important things to consider when getting a mortgage because this is what will keep a roof over you and your families heads when you’re going through tough times! Protection can be much more complicated than the mortgage because there are so many different moving parts. It’s also completely unique to each individual because we take into consideration hundreds of different factors when making our recommendations such as sick pay, death in service, existing insurance policies, etc. Please call us today to get completely FREE protection advice. Whether you’re taking a mortgage with us or not, we can still help you with the protection. 01206 688568
What is protection?
Not all these covers will be applicable to you so it’s important that you get advice around your circumstances so that you’re paying for the right cover… and that’s where we come in. Once we’ve spoken with you, we’ll be able to make a detailed assessment on what type of cover you should be looking at whilst making sure we fit it in a budget that suits you. Not only that, but we’ll look across several providers to find the best cover for you and your family.
Life insurance
Life insurance will pay out a tax free lump sum should you die during the term of the policy (typically this will be matched to the mortgage term). This can be used in any way your family see fit i.e. pay off the mortgage, funeral costs etc. This is so important if you have children or if you’re buying with someone else as it will remove some of the worry and stress from the rest of your family whilst they’re going through an extremely traumatic time.
Critical illness insurance
Critical Illness insurance will pay out a tax free lump should you be diagnosed with a critical illness during the term of your policy (typically this will be matched to the mortgage term). This can be used to pay the mortgage, pay other debts, seek private medical treatment or just enjoy life with your family…. In short, it’s up to you what you decide to do with the cover.
The critical illnesses are defined by a list from the insurance provider before you take out the cover. These illnesses could vary massively so it’s important you get advice on the right policy for you before you decide on a provider.
The most common critical illness that’s claimed on is cancer. We understand this really isn’t something you like to think about but the implications of not having cover before you commit to your mortgage could be severe.
Income protection
Income protection is a policy that will pay you a monthly income should your income stop due to any injury or illness. The great thing about this policy is that it doesn’t specify which illnesses or injuries it will pay out on. The only specification is that you’re unable to work due to your illness or injury and let’s face it… That’s when you really need it.
Pretty much everyone should consider this policy (providing you qualify). The policies are extremely flexible and can start and stop when you want them to and you can choose how much cover you’d like. You must get advice on these policies as there are many different moving parts that you must consider and you’ll need an expert’s opinion. The last thing you want is to find out your policy doesn’t pay out when you thought it would.
Remember this policy protects you, your income and your family. If your income suddenly stops, everything in your life has to be put on hold. This can be used to pay all your bills so you can keep a roof over you and your families heads and will pay out until you get better, you die or until the policy stops.
Why should you consider protection?
Whether you a young single person buying alone or whether you’re the main breadwinner of a 5 person family you will need some level of cover. How much will depend on your circumstances at the time, what your priorities are and how much you can afford to spend.
There are hundreds and thousands of instances where you could die or become seriously ill or injured during the term of your mortgage. We completely understand it’s not something that you really want to think about but this is what’s going to keep a roof over your head should the worst happen.
The impact of losing a regular income coming into the household is staggering. Alongside this maintaining a mortgage ad paying your bills when your family is going through an extremely difficult time makes things even tougher.
We want to ensure you and your family are prepared for every situation. After speaking with us we’ll highlight where your shortfalls are, make a recommendation and then start the underwriting process with you.
We’ll be there to help you every step of the way and give you the advice you deserve.
“I used Jack in the past to arrange my mortgage and he was amazing… He come back to me so quickly every time and the service was amazing! I will definitely recommend him to all my friends and family.”
Andy Simons, Clapham