Mortgage Protection Insurance

Life insurance is a vitally important element of financial planning for anyone with dependents, such as your partner, children or anyone else who relies on you for financial support. Your death and its effects on your family can be distressing. As a result, some people ignore the issue. Of course, it’s much better to tackle the issue head-on and take out a  life insurance policy

One of the most popular types of life insurance is called ‘term’ insurance. It pays out a pre-agreed amount as a lump sum or, on occasions, as a regular income if you die before the end of the term. The choice of the sum insured and the policy length is yours. For example, you may decide to have cover in place for the life of the mortgage or until the children have left home. Our experienced advisers will help you with all these decisions

Income protection is a long-term insurance policy that will help if you can’t work through illness or injury with a regular income until you are able to return to work. There is often a waiting period before the payments begin, linked to how long your sick pay continues. You can typically claim as many times as needed whilst the policy remains in force.

Over a million workers can’t work every year due to illness or injury. Even if you have no dependents, a long absence from work may mean that you cannot pay the bills, and you should consider income protection. Your payments will vary.  For example, the cost will depend on your age, your job, and whether you are or have ever been a smoker. Other factors include the waiting period before the policy pays out, the scope of illnesses and injuries covered and your general health.