Insurance

MORTGAGE, FAMILY & PERSONAL PROTECTION

Protection insurance doesn't need to cost the earth. In fact it might not cost as much as you think, even a relatively small amount of cover would help your family cope for a while.

There are many types of cover available on the market today, we have listed these below. However we would recommend that you speak with an adviser who will be able to assess your individual situation and advise on the right type of protection products to suit your circumstances and budget.

If you are unable to afford all the cover you need today, why not take out alittle now and add more cover in the future, some cover is better than no cover at all.

LIFE ASSURANCE

Life assurance is an inexpensive cover and gives you peace of mind that your loved ones will be provided for should you die. There are many different ways to arrange life cover and we can help you find the most suitable deals available.

Life assurance ensures that in the event of death your mortgage will be repaid and hopefully that your families financial circumstances and lifestyle will be unaffected should the worst happen.

CRITICAL ILLNESS COVER

This type of cover is widely overlooked as many feel that it is too expensive or will “never pay out” due to articles that have appeared in the press. Consider however how you or your family would cope were you to suffer a serious illness such as cancer, heart attack or stroke, we all know people who have. You may be off work for a considerable period of time or worst still, never return at all. You will still be responsible for your monthly bills such as council tax, utilities, etc and whilst your mortgage lender will be sympathetic to your circumstances ultimately they will still require the monthly repayments to be met. Some employers will provide certain levels of benefits but these normally expire after 3 or 6 months, many offer none at all and with the state benefit of statutory sick pay currently a maximum of £85.85 per week could you really cope financially if you were seriously ill?

MORTGAGE PAYMENT PROTECTION

Mortgage protection such as accident, sickness and unemployment cover can give you peace of mind knowing that in the event of redundancy or illness your mortgage payments will be made and your home will be safe, this is of particular importance in todays uncertain economic climate.

Most mortgages do not have any protection insurance included, so it's important to decide what kind of separate cover you need. Accident, sickness and unemployment cover insures you against changes in your circumstances due to redundancy, disability, or illness. Usually payments are made for up to amaximum of 12 months. If you would like to be covered for longer than this you may want to consider taking out income protection insurance.

*This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

INCOME PROTECTION

This offers borrowers the security of knowing that they will receive a monthly income should they be off work for a prolonged period due to illness or accident. For example, if you are in an accident and are unable to work for a while, a lack of comprehensive income protection cover means you will rely solely on state benefits - around £80 per week - which is unlikely to be sufficient to meet your mortgage repayments. This is where income protection can help as it provides a tax free monthly payment until you are able to return to work.

*This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

BUILDINGS & CONTENTS INSURANCE

It will be a condition of your mortgage that you have buildings insurance to protect your home, and we can provide you with a competetive personalised quote tailored to your individual circumstances. In addition,and for your added peace of mind, it is also important to arrange adequate contents insurance so that your belongings are covered against things like fire, theft and flood.

As with all insurance policies, Conditions & Exclusions will apply.