Insurance and Protection
Why is life insurance important? Life insurance can pay off large debts (like your mortgage) and protect your family by providing for them if you die. The most basic type of life insurance is Term Assurance. Term Assurance can either be Level Term Assurance (where the amount you are covered for stays the same throughout the policy term) or Decreasing Term Assurance (where the amount you are covered for decreases over a term) usually to cover repayment mortgages. Our fully qualified advisers are ready to answer any questions you may have about life insurance and provide you with the most suitable advice for your needs.
Why is Critical Illness insurance important? Most people will think about protecting their family if they die but what happens if you become critically ill. How will you keep up mortgage repayments if you are no longer able to work? Critical illness is a policy set up to pay out a lump sum cash payment if the person insured suffers a critical illness covered by the policy within a specified term. Most critical illness policies will cover such things as heart attacks, strokes and types of cancer. Our fully qualified advisers are able to provide you with the most suitable advice to meet your needs and provide you with quotes from the whole of market.
ACCIDENT, SICKNESS & UNEMPLOYMENT
A form of income protection designed to provide you with a form of income to help you pay your mortgage and essential bills should you be unable to work due to accident, sickness or unemployment. Usually the policy will provide you with an income for a set period (1 – 2 years). Accident, sickness & unemployment insurance is not suitable for everyone. We recommend you seek independent advice by contacting us to discuss your needs and objectives before making any income protection choices. We have a team of fully qualified impartial advisers who are able to provide you with suitable advice based on the whole of the UK market offering income protection insurance.
Income protection is usually two types. Long term which pays out until a fixed agreed point (either death, an agreed age or your return to employment). Short term which pays out for a fixed term of usually one to five years. The cost of income protection varies depending on your occupation and how you want to be charged for your premiums. We recommend you seek independent advice before making any decision about income protection yourself to ensure you have the most suitable policy for your needs. Speak with one of our fully qualified advisers today who can advise you on the whole of the UK market of income protection providers.
Buildings and contents insurance can either be individual policies (suitable for landlords and tenants requirements) or joint (for home owners) which usually offers a discounted rate. Buildings insurance covers all the fixtures and fittings as well as the house structure itself. Contents will cover your belongings within the house. Buildings insurance is usually a mandatory insurance requirement when taking out a mortgage. We have a team of fully qualified advisers able to provide you with advice and quotes based on the whole of the UK market of building and contents insurance providers.
Watch out for price comparison sites. You might find these policies come out top on cost but they usually have the most exclusions and potentially much of the premiums may increase throughout the terms of the policy.
Before taking out an insurance or protection policy you will be provided with a Key Features document which sets out the policy in detail.