Life may well be going well now, but nobody can foresee what may be around the corner.
What will you do if something goes wrong that you haven't expected or planned for?
A mortgage is probably the biggest financial commitment you can make during your lifetime.
With every new mortgage it is important to check that any existing cover that you have continues to meet your needs and requirements.
Changes to your circumstances since an original policy was taken out, e.g - a larger mortgage or the birth of children, makes it important to review any cover you already have and protect those people closest and dearest to you.
What if you were to lose your income through illness or redundancy?
How would you pay your mortgage and meet your monthly commitments?
These are the key areas of protection that you should consider:
Life assurance - as a minimum, life assurance would typically be taken out to ensure that the mortgage was fully repaid in the event of the death of a mortgage account holder. You may also wish to consider family protection to cover the loss of earnings of a loved one.
Critical illness - if you were to fall seriously ill your ability to work or to continue your family's lifestyle could be affected. Critical illness cover can provide a lump sum on diagnosis of one of the illnesses covered by the policy. This can be used to repay your mortgage, replace a valuable income or cover long term care costs subject to a valid claim.
Income protection - you can look to protect your income in the event of you not being able to complete your work duties.
These circumstances could lead you to fall behind with your mortgage repayments and ultimately could lead to you losing your property. We can arrange policies which complement any existing cover you have.
Buildings & Contents Insurance - when you take out a new mortgage it will be a condition of the loan that you take out sufficient Buildings Insurance on the property. To give full piece of mind you may also wish to take out additional cover to protect the contents of your property.
For advice on protection policies we offer products from a limited panel of providers.
For Buildings and Contents Insurance we usually offer products from a limited panel of providers.
For Accident, Sickness & Unemployment Insurance we offer products from a limited panel of providers.