Life & Critical Illness Insurance
Taking out a mortgage is often a long-term decision and when moving into a new home you are often also thinking about your long-term future in both financial and other ways. This is why when taking out a new mortgage or re-mortgaging , many people also ensure they have both life insurance and critical illness insurance to protect them and their family from the unexpected.
As with mortgages there are a range of different policies and products available on the market and matching your needs to the right policy is what our expert team of mortgages advisors can do for you. You may choose a life insurance policy or a combined life and critical illness policy, we can talk you through all the different options, so you can make the best choice to protect your family.
Insurance is there to help in unexpected and unwanted situations and life insurance is no different. These are policies to protect your family if you were to die, many families would struggle to pay the mortgage and other commitments if the main source of income was to die and so that is what life insurance is for.
The life insurance policy you choose can have many different features, some pay out the policy in one lump sum and others can pay out in regular instalments over time. You can choose the level of insurance that you need, to ensure that the just the mortgage is covered, or insure for a larger amount to cover a range of expenses and bills too. You can choose to have life insurance for a specified period of time (for example until the mortgage is paid off) or have a whole life policy meaning the insurance will pay out regardless of when you die.
Deciding on whether you need life insurance and if so what type of cover you would need is a very personal decision to be made by you and as experts in this field we can work with your requirements to find policies that meet your needs and talk you through the pros and cons of each before you make a decision.
Critical Illness Insurance
Insurance covering critical illness is similar to life insurance, but it pays out if you have an illness rather then if you die. The policy will have specific types of illness it will cover and sometimes will also specify the severity of the illness.
Critical illness insurance pays out in one lump sum and is there to cover your financial obligations like a mortgage of you become seriously ill and can no longer work. It can also be used to make alterations to your home, for example adding wheelchair access if your illness leaves you with changed circumstances.
Get the insurance cover you need
The right insurance product is different for everybody which is why talking to our team can really make sure you see the best options available for you. Getting the right insurance at the best price is important and we can help you with that.
Contact us today to arrange a discussion about your finances, mortgages or insurance needs.