Life Insurance Protection
Do I need it? – In the event of your death, how would you repay your mortgage debt without it?
In the case of a joint mortgage, would your spouse or family be able to pay the mortgage with the loss of one income?
Would your family be able to manage to pay all the bills and maintain a lifestyle with such an event even if the mortgage debt was repaid?
How do I protect it? For a mortgage we would normally recommend a term insurance product so that the debt was fully repaid in the event of death.
If you have a spouse or dependents we would also recommend you consider providing an additional lump sum to provide an income for your family.
Critical Illness Cover Protection
Do I need it? – Life insurance only pays out on the death of an individual. With medical advances more serious conditions are becoming treatable but this can result in you being absent from work for a long period of time. With a basic life insurance this is a problem because nobody has died and therefore your mortgage still needs paying.
How do I protect it? – Adding critical illness cover to your policy means that the cover would pay the sum insured on diagnosis of a critical illness, rather than death.
Income Protection
Do I need it? – How would you pay your mortgage if you were not receiving sick pay from work?
How do I protect it? – Income Protection cover will pay a monthly amount in replacement of your lost salary, thus enabling you to pay your mortgage until you return to work.
Making sure that there is financial protection in place will give you peace of mind, knowing that should the worst become reality, you or your family will not be burdened with financial difficulties that could ultimately result in the loss of your home.
Call one of our advisers to review your protection needs on 0800 612 8099. All appointments can be completed via email/telephone or video call making sure that you and your loved ones can be protected in uncertain times.