Insurance Services
Insurance Services
Insurance Arrangements
We will help protect you, your family, income and home. Whilst life may be going well now, none of us know what is around the corner. So what if something goes wrong that you haven't expected or planned for?
With every new mortgage it pays to check that your existing cover continues to meet your changing priorities, whether that means you are increasing your mortgage, growing your family, or just require greater peace of mind.
Key Areas of Protection to Consider
Life assurance
As a minimum, life assurance would typically be taken out to ensure the mortgage is fully repaid on death rather than the property having to be sold to repay the outstanding debt. In addition, you can also take out family protection to cover the loss of earnings to give you extra peace of mind.
Critical illness
The inability to repay a mortgage or maintain a lifestyle for you and/or your family may also occur should you become seriously ill. Critical illness cover will pay out a lump sum which can then be used to repay your mortgage, replace a valuable income, or support any other expenses such as long term care, subject to a valid claim.
Income protection
You can protect your income in the event of you not being able to work due to an accident, illness, or unemployment. Any of these circumstances could result in payments being missed which ultimately could lead to you losing your home. Our advisers will explain how income protection can be tailored to your individual circumstances such as ensuring the policy complements the cover that may be provided by your employer, and/or budget restraints.
Buildings & contents
It is usually a condition of your mortgage that you take out buildings insurance to protect your home. For your peace of mind, it is also important to arrange adequate contents insurance so that your belongings are covered against things like fire, theft and flood.
Facts
1 in 8 men aged 30-49 and 1 in 12 women aged 30-49 in the UK may die before they reach 65 (source: Government Actuary's Department - Interim Life Tables based on data for the years 2004-2006)
How much cover do I need?
This will depend on your mortgage amount and personal situation. One of our expert mortgage advisers will help you through the process step-by-step, working out how much cover is needed and the cost. They will even take care of all the protection paperwork for you, so you don't need to worry about a thing.