Protection Insurance Services

Providing protection cover is essential in order to protect you and your family – we will conduct a thorough review of your protection requirements to ensure you and your family are provided for in the event of death or ill health.

In all honesty, no one likes to think this way but could you pay your mortgage if you were off work long-term due to a serious illness or injury? If you have a family, how would they pay the mortgage in this situation, or if the worst were to happen and you died?.

Whether you live on your own or with a family our all of our Mortgage Advisors are able to offer advice and recommend products from the whole of the market for the following types of protection.

Life Insurance / Life Assurance

Critical Illness Cover

Income Protection Insurance

Family Income Benefit

Private Medical Insurance

Unemployment Cover

Mortgage Payment and Protection

Buildings and Contents Insurance

Joining the team in July 2019 will be our newly recruited specialist insurance advisor to ensure your needs are fully met.

Your Advisor will talk to you about your specific circumstances. They can help you calculate how much money you and your family may need if you were unable to work due to illness, or if you were to die. This will enable them to look at what level of cover will help meet any shortfall, always recommending products and services that are appropriate for you and your situation.

Flexibility of appointments. In the same way our Mortgage Advisors offer a range of flexible appointment times and locations, that work for you including telephone or face to face meetings, this extends across to our Protection Insurance services.

What does the various Protection Insurances cover you for:

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Life Insurance

Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
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Critical Illness Insurance

Critical illness insurance will provide a tax free cash sum in the event that you are diagnosed with one of a set list of critical illnesses (most policies cover 30-40) where your diagnosis meet the providers definition.

Critical Illness protection is there to provide financial stability at a time that it is needed the most, it could be used to clear a mortgage or it could be used to replace a lost income, pay for private treatment or for whatever else you feel is required.

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Income Protection Insurance

Income Protection Insurance sometimes referred to as Mortgage Payment Protection and Accident and Sickness Protection – is designed to pay a monthly income to help replace any lost income, should you not be able to work due to accident or sickness.

Insurers normally limit the amount they will pay out based on your last twelve months of earnings. The monthly benefit payable is paid to you either until you return to work, you retire or if you pass away.

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Private Medical Insurance.

A private medical insurance is a policy you take out to cover the cost of medical care. Private health insurance offers three key advantages:

  • Shorter waiting times
  • Quicker diagnosis
  • Better facilities, such as a private room

Health insurance can also offer access to specialist drugs and treatment that may not be available on the NHS or affordable to pay for directly. Its overarching aim is therefore to provide you with the comforts and reassurance you want from your initial consultation through to your aftercare.

Whether you are worried about an experience someone you know has had or you want access to a specific hospital or quicker access to a specialist, there are a variety of health insurance products and policies to choose from which should help to ensure your requirements are met.

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Buildings and Contents Insurance

Buildings insurance usually covers the structure of your home and any fixtures or fittings, garages, drives, fences, walls, out-buildings, swimming pools and tennis courts.

Insurance cover includes the cost to repair or rebuild your home if it is damaged to a set rebuild cost although some insurance companies have an unlimited level of cover.

Contents insurance is cover for your household contents, i.e. furniture, carpets, curtains, television, kitchen equipment, ornaments, personal possessions, clothing, computers, etc. It is the total value of everything that is in your home that you would take with you if you were to move. With most contents insurance there is the ability to insure your personal possessions away form the home. This optional cover allows you to insure your personal items normally worn or carried outside the home, e.g. watches, jewellery, cameras, anywhere in the world for up to 60 days a year.

We understand that buying any Protection Policy can be a hard decision for some given the uncomfortable questions it raises. However, we know that planning for the future is important and are happy to take the time to discuss all aspects of these policies to ensure that you choose the right policy for your circumstances.

There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneymadeclear.org.uk

Insurance FAQs

Why do I need insurance?
Insurance gives you and your family peace of mind that in the event of an unforeseen circumstance, such as unemployment, illness or property damage you and your dependents have the necessary financial protection in place to support you.
What kind of insurance do I need?
There are a variety of different insurance products available and each person will have different needs depending on their circumstances. Our Expert Insurance Advisor will talk you through the various options and advise you on recommended products and level of cover specific to your needs.
What should I do if my circumstances change?
We know that your protection needs will change throughout your life, as your family situation, employment, and financial circumstance change. If something changes, we recommend talking to us and that on a regular basis, you (with our help if you wish review what kind of protection you have, to ensure any changes in circumstances have been fully considered.
Do I need buildings and contents insurance to take out a mortgage?
Although not a legal requirement to take out buildings and contents insurance with your mortgage, the Lender will require you to take out buildings insurance from the date of exchange in order to protect its investment in your property.
Do I need life insurance to take out a mortgage? 
In short, no, it is not a legal requirement to take out life insurance with your mortgage, however it is something we recommend you seriously consider if you have dependents who rely on your income.
When should I take out the insurance?
We recommend that you take out the appropriate insurance for you as soon as possible, in order to protect you from the unknown.

Buildings insurance needs to be in place from the date of exchange in order that completion can go ahead.

Can anyone apply for insurance?
You must be a UK resident and at least 18 years old at the time of applying.
What happens if I cancel my policy and switch to a new, cheaper one?
If you’ve only just taken your policy out then cancelling it should be fairly straightforward.

If you’re further into your policy and want to cancel your life insurance, critical illness or income protection policy before the term ends there should not be any penalites.

However, there could be a penalty to pay for the early cancellation of buildings and contents insurance.

Need more help or have any questions?

We need to be honest with you… Your home may be repossessed if you do not keep up repayments on your mortgage.