Life Insurance

Life insurance pays out a lump sum in the event of death or terminal illness.

Many people choose to take out life insurance if they have dependents that rely on them and want them to be able to afford to stay in the family home should the worst happen. It is quite common to insure your life for the amount and term of your mortgage so that In the event of a claim a lump sum will be paid that your dependents can use to repay the mortgage.

Decreasing term assurance is recommended if you have a capital repayment mortgage. The amount of the cover decreases over time as the mortgage debt decreases with the aim of the policy to pay out a lump sum that covers the mortgage balance in the event of a claim.

Level term assurance is a life insurance policy where the cover remains the same for the term of the insurance. This type of policy is usually recommended for an interest only mortgage, where the balance remains constant throughout the term.

Critical Illness Cover

Critical illness cover provides a lump sum pay out if you are diagnosed with a critical illness as defined in the policy documents. The cover like life insurance can decrease over time or you can take out a level term policy with a constant level of cover. You could insure yourself for an amount of cover that would repay the mortgage balance in the event of a claim or a lump sum amount that could be used to relieve the financial burden throughout your illness and recovery.

Family Income Benefit

Family income benefit is a type of life insurance that pays a regular tax free monthly income rather than a lump sum in the event of death or terminal illness. When a claim is made, the beneift is paid monthly until the end of the policy term. Family income benefit is taken out by those that would prefer their dependents receive regular monthly support rather than a one off cash lump sum.

Income Protection

Income protection is a type of policy that protects your income in the event of illness or injury. If a claim is made the benefit pays a monlty proportion of your salary to help support your current lifestyle. The payments begin after a deferred period that is usually chosen by you to tie in with any sickness benefits provided by your employer, the claim ends when you are healthy enough to return to work, reach retirment age or the policy end date.

Home Insurance

A lender will require you to have buildings insurance on your property regardless of whether it is a remortgage or home purchase. If you are purchasing a property this will need to be in place for exchange of contracts. Most homeowners will also choose to add contents insurance to protect the valuables that are kept at the home.

Buldings insurance covers the permanent fixtures of the property, which does not just include the building itself but anything fitted to it, such as your kitchen, bathroom suite, fitted wardrobes etc. A standard buildings policy should cover the full repair or rebuild cost of a property in the event of a claim.

Contents insurance covers your possessions, it protects the items that you would take with you if your were to move home against loss or damage. 

It is very importnat that you have the right level of cover in place, and that covers the full repair or rebuild cost of a property and fully insures the contents of the property. When you contact us we will use our expertise to ensure you have the right policy for you and the correct level of cover in place.