Protecting yourself should the unforeseen happen
Once you’ve found the home the you were looking for and have the right mortgage to secure it, it’s important to consider protecting yourself and your family should unforeseen events affect your income. This is an often-overlooked area and is easy to put off, particularly as it involves events that may seem unlikely or far off, but it’s very important that you have appropriate products in place for you and your family’s peace of mind.
Products range from life assurance so that your mortgage can be paid off in the event of your or your partner’s death, critical illness cover if you’re unlucky enough to be diagnosed with a specific serious illness, and income protection to cover your income if you’re unable to work due to accident or illness.
Much like our mortgage advice, we aim to make navigating the market as simple and transparent as possible and will help you address the essential decisions necessary to put appropriate cover in place.
Life assurance – mortgage cover
This pays out a lump sum to cover paying off your mortgage if you die.
Life assurance – family cover
This will pay out a lump sum or income to your loved ones; to your partner if they rely on your income or to see your children through school into adulthood.
Critical illness
This pays out a lump sum or income if you suffer a critical illness such as cancer, heart attack, stroke or an illness specified in the policy.
There are many different levels of cover.
Income protection
This provides a monthly income if you’re unable to work due to an accident or illness.
Available to employed or self-employed people, it can provide an income to cover mortgage payments, bills, food and other outgoings when you’re not able to work.
Whole-of-life assurance
This will pay out when you die and does not have an end date.
Whole-of-life assurance is guaranteed to pay out at some point and can be used with inheritance tax planning to cover any tax liability.
Home insurance
This covers your building and contents. Buildings insurance is a mandatory requirement of mortgage lenders.
We can save you time and money by finding cover that’s right for you, and perhaps you have valuables or requirements that don’t fall into the comparison site products.
Take the first step
Whether or not you’re getting your mortgage through us, we’d be happy to chat about your insurance and protection requirements.