Types of Insurance

First Time Buyers Remortgage Buy to Let Self Certification Self Build Adverse Credit

A mortgage is potentially the largest single financial commitment that most of us are likely to undertake.

There are many things that can dramatically impact on the household budget such as a death, the onset of a critical illness, being made redundant, an accident or sickness

It is therefore essential to ensure that there is sufficient protection in place to ensure the security of yourself and your family, should anything happen during the mortgage term.

Types of protection cover available to you:

Level Term Insurance

The amount of cover on day one of the policy remains constant throughout the term of the policy, payable on death. Usually taken out in conjunction with an interest only mortgage.

Decreasing Term Insurance

The amount of cover decreases in line with your mortgage, payable on death. Similar to Level Term but usually cheaper as the amount of cover goes down during the term of the policy. Usually taken out in conjunction with a repayment mortgage.

Critical Illness Insurance

A lump sum paid on diagnosis of a defined critical illness. Can be written for the total amount outstanding or a proportion.

Income protection cover

Paid monthly in the event of incapacity or long term illness. Can be written up until normal retirement age.

Mortgage Payment Protection / ASU

Usually a 12month reviewable policy – provides cover for the mortgage payment and household costs in the event of accident sickness or redundancy. This policy can often be written to cover one or all eventualities.

In today’s workplace many of us receive substantial benefits from our employers that may protect much of the above. However insurance is there to protect the unknown so making sure the levels of cover are correct is important.

We are happy to discuss at length your insurance requirements and take the time to consider any employers benefits which you may have.

These policies are not saving plans so if you cancel your policy, you will not get your money back.

All of the protection policies named above have benefits and drawbacks. Drawbacks can include exclusions and limits to the amount of cover. We will discuss these with you before we make a recommendation.

Contact us now on 0800 10 77 889 or fill out our online enquiry form

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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Registered Address: First Floor, 52 Vyse Street, Jewellery Quarter, Birmingham B18 6HR

Tel: 0800 10 77 889 Email: email@emortgagesolutions.co.uk

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The guidance and/or advice contained within this web site is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.