Insurance
Life Insurance
Life Insurance is paid by a monthly premium which is based on the amount you wish to cover, your age and your personal health history. Life Insurance is there to cover you in the event of death. Without this insurance your family/partner would be left with the mortgage to pay whilst perhaps on a reduced income. Life Insurance would pay a lump sum to clear the mortgage in one payment.
The cost of Life Insurance is currently at a record low. Cost is based on your age and health but an example would be a healthy 21 year old female that is a non-smoker could obtain £375,000 of Life Insurance for approximately £10 per month. This is a very small price to pay for the peace of mind that this will give you.
Critical Illness Cover
Critical Illness Cover is usually added to Life Insurance.
A serious illness, such as some forms of cancer or heart attack, affects one-in-four women and one-in-five men before retirement age. Critical illness insurance is designed to ease the financial pressures by paying a tax-free lump sum if you become seriously ill or totally disabled.
Originally known as dread disease cover, critical illness cover pays benefits on the diagnosis of certain specified critical illnesses. The range of diseases covered has increased to more than 30, though contracts differ from one company to another.
All policies should cover seven core conditions. These are some forms of cancer, coronary artery bypass, some forms of heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. They will also pay out if a policyholder becomes permanently disabled as a result of injury or illness.
For single people with no dependants, critical illness cover that pays off the mortgage is more important than having life cover, as it means you have fewer bills or a lump sum to play with if you are very unwell.
But it can also be useful if you are part of a couple. It provides a welcome financial boost at a time of emotional stress and financial hardship.
Buildings and Contents Insurance
Buildings Insurance is compulsory for home owners who have a mortgage secured against the property. Our advisers will find you the best rate for your circumstances, you could well be surprised at how much different quotes vary from different insurers.
Contents insurance is more complicated than many people realise. For instance different policies will have different excess levels, some policies will replace like for like whilst others will pay out the cost of the item when new. Furthermore, just like buildings insurance the premiums can differ vastly from insurer to insurer.
Most people obtain their buildings and contents insurance with the same insurer. This reduces the paperwork and ensures that you only have one monthly payment.
Accident Sickness & Unemployment Cover
Rather than worrying about what might happen, you can enjoy the peace of mind that you are covered.
For a single person with no dependants Accident Sickness & Unemployment is more important than Life Insurance and Critical Illness Cover yet it is usually the last one they consider.
Our advisers will find you the best products to suit your needs.
For Buildings & contents insurance and Accident Sickness & Unemployment insurance we offer products from a selected panel of providers.