Protecting your worldOctober 13, 2022
When you take out a mortgage, you understand the importance of keeping up your monthly payments. You now have a home, but how do you ensure it remains yours?
Although we don’t like to think about it or think that it will never happen to us, sometimes unfortunate events can happen in life that can change your financial situation.
But have you thought how you would you protect your mortgage, if you were sick, injured, or developed a serious long-term illness? And if you have dependants, how would they cope financially if you died unexpectedly? It is your responsibility that you keep up your mortgage payments, otherwise your home may be repossessed.
We are specialists in arranging mortgages and helping people buy their new home, but we are also dedicated to ensuring that you can keep your new home if the worst were to happen.
Why should I consider protection insurance?
Everyone has different needs and circumstances, however some common reasons why you might decide to purchase protection insurance include:
- To protect your family financially should you die.
- To pay off specific financial commitments in the event of your death, such as a mortgage.
- To provide a lump sum or income if you are seriously ill.
- To provide sick pay cover. Statutory Sick Pay is currently just £99.35 per week.
- To ‘top up’ sick pay cover provided by your employer.
- To continue to be able to pay outgoings in the event of accident or illness.
- To avoid having to use your savings in the event of accident or illness.
Availability and cost of cover is subject to criteria such as age, lifestyle, current health and medical history.