Insurance

Having a mortgage is a big responsibility and comes with very serious repercussions if you can't pay, so how do you make sure that if the worst happens you can still keep a roof over your head - one that you have worked hard to achieve?

Nobody likes to talk about it but we do need to think about the “what ifs”.

What happens if I die, how will my family manage the mortgage if I’m not here?
What happens if I have an accident and can’t work?
What happens if I get ill?
What happens if I get critically ill?
What happens if I’m made redundant?

We need to explore those “what ifs”, so that if the unfortunate were to happen, the financial burden of the mortgage wouldn’t add to the extra stress you or your family are already going through. We can look at a range of different insurances from a range of providers to see what works for you.

There is no “one size fits all” approach and we’ll help you to tailor a solution that meets your needs. Insurance does not have to cost the earth, there are many options available to suit all budgets.

Income Protection

How would you really cope if you were to lose an income due to illness or an accident? How do I work out how much income I will need to keep my head above water? There are many different Income Protection policies with a wide range of benefits and features. This makes picking the one that suits your needs quite complicated, but don’t worry, we are here to explain it and help you work out what one will suit your needs and budget best. There is not a one fits all category here, there are lots of options and we can talk you though the mine field of “which one is right for me!”

Mortgage Protection

There are different types of insurances aimed to follow along with your mortgage, whether that be a repayment mortgage or an interest only mortgage. Life insurance is designed to provide a lump sum of money should you die during the term of the policy. This can be used to pay off your mortgage, clear debts or leave an inheritance.

Lifestyle & Redundancy

There are products available to protect your lifestyle, for example in a family of 5 partner A earns £100,000 a year, while partner B takes care of the household and the children – how would the family keep their lifestyle if Partner A was to pass away prematurely? You may have paid the mortgage off with life insurance but how would they sustain private school fees or keep their accustomed living standards with no more income? Would you want your loved ones to be looked after if you were no longer here? We can also assist with Redundancy cover.

Trusts

It can often be a very good idea to place a life insurance policy in trust. Effectively this means that you would specify who you want to receive the funds of the life policy, in doing this you avoid the long process of probate so the money would be with your family when its needed. Trusts can be confusing but that is what we are here for! We will advise what is best for you.

Critical Illness Cover

This is designed to help you should you become critically ill. You would not be able to continue earning money, perhaps you would need to make major changes to your property or even move for mobility issues. You could potentially pay off your mortgage or use the money to help you in a time of need.

Buildings & Contents

If you own the freehold of your property you are legally required to maintain buildings insurance, contents insurance is optional. There are different levels of cover, we can assist in finding what’s right for you.