Insurance advice designed for you
When you own a property it is one of the biggest financial commitments you will make. It is important to know what insurances are available and how these can help to protect your home, family and income. There are different policies available and I would love to discuss this and help you to understand how these can benefit you and your family. These can be tailor based on what is important to you so you get the most our of your insurance needs.
Insurance types
Life cover pays a lump sum of money in the event of your death. Its purpose is to financially protect your loved ones if unfortunately, you were no longer here.
Mortgage life cover would repay your mortgage if you were to die. This enables your partner to not worry about finding money to pay this large outgoing which may not even be affordable on their income alone. By having the mortgage paid off it takes the burden and pressure away which really does help if you have lost somebody and are going through this awful time in your life. You do not need extra financial pressures to deal with on top of what you are already struggling to cope with. By relieving this pressure you will be giving your family a much better start if the worst was to happen.
If you have a partner/ spouse and dependent children it is important to think about the impact to them if you were no longer here. Where would they live, what funds would be available to them? What lifestyle would they have? Think about what you want for your children and what lifestyle you want them to have. By having a life cover policy in place in the event of your death to repay the mortgage would mean they are keeping their home.
Life cover does not have to be expensive and may be cheaper than you think, you pay a monthly premium for a specified term and if you were to die within the term a lump sum payout would be made. There are different types of policies available to be tailored to your need. Please contact today and I will be happy and explain what is available for you and your family.
A critical illness policy pays a lump sum of money in the event of being diagnosed with certain critical illnesses. If you suffered a serious critical illness this could impact you and your family greatly. Household bills could be increased, travel costs increased as well as possibly needing extra items to support you. Many factors could have a financial impact on you and your family. By having a critical illness policy in place this could pay off your mortgage or provide a lump sum to ease the financial burden at this hard time.
Critical illness policies include many conditions, cancer, heart attacks, multiple sclerosis and strokes to name a few. There are many critical illness providers and the policy coverage can vary including the number of critical illness covered.
This policy works the same as life cover in that you pay a monthly premium for the specified term agreed and in the event of a certain critical illness if covered within your policy documents you would receive a lump sum payment. Please call today to discuss how I can help and tailor a policy to suit your needs.
An income protection policy pays a monthly income if you are unable to work due to a long term accident or sickness. It will pay a monthly sum until you return to work or for the specified period agreed in the policy. The policy pays out after a deferred period this could be anything from 4 weeks onwards depending on the income protection lender.
Think about your current situation and lifestyle, if your income were to stop what back up do you have to ensure your mortgage and other bills can be paid?. Would you and your family be financially ok or would you struggle? Some employers offer sick pay but normally this is for a short period of time however, many employers offer statutory sick pay which unfortunately for most people is not enough to pay your bills. This is where income protection can help so you don’t have to worry financially and be confidant you will have an income each month to look after you and your family,
Contact today and I will be happy to discuss more benefits of this policy and how it can help and be tailored for you.
When you own a property you need to have buildings insurance in place. This will ensure in the event of fire, flood, or other damages that could happen as stated in your buildings insurance policy, your property would be insured to be repaired or rebuilt.
Contents cover is also important as this will insure the contents in your property. For example in the event of a fire or flood you may lose all your belongings in your home from televisions, laptops, children’s bedroom furniture, toys, bikes & jewelry. Think of the belongings you have and if you were to lose these how much it could cost to replace this. By having contents cover in place will provide a lump sum of money to be able to do this. Unfortunately, sentimental things may not be saved but by having a payout may help to get your family home comfortable again.
