Life Cover - Mortgage Protection

Mortgage protection otherwise known as decreasing term assurance, which is designed to repay your repayment mortgage in the event of the death of the borrower(s). The sum assured is designed to reduce over the term of the policy in line with your capital repayment mortgage loan. If the mortgage interest rate exceeds the assumed rate of your policy (10%), the lump sum payable on death may not cover your outstanding mortgage. Mortgage protection has no cash in value.

Life Cover - Level Term Assurance

This is normally taken out in conjunction with an interest only mortgage to provide life cover protection in the event of the death of the life assured during the term of the policy. Unlike mortgage protection the sum assured remains level throughout the term of the policy in line with your interest only loan.

Critical Illness

is usually available as an addition to all term assurance plans but can be bought on a stand alone basis. Critical illness generally allows for the lump sum benefit to be paid also in the event of diagnosis of certain critical illnesses, such as Heart Attack, Stroke, Transplant, Blindness, Total & Permanent Disability and so on. Most providers conform to the Association of British Insurers standards for qualifying illnesses and it is important that you fully understand the terms of each illness. Critical Illness can be provided on either a guaranteed or reviewable premium basis.

Permanent Health Insurance

This would provide you with an income in the event of prolonged illness or incapacity. This would enable you to replace your lost income and ensure that your mortgage repayments continue to be made.

Mortgage Payment Protection (Unemployment Cover).

This is designed to provide you with a regular income sufficient to meet your monthly mortgage repayments in the event of redundancy.

If you have any queries or would like advice please contact us on 01639 821694 or use the contact us form.

Please refer to our Client Agreement and Key Facts about our Services and Costs which are available on our contact us page.