PROTECTION & INSURANCES
You might not need all the insurance you are offered but you need to prudently plan against life's worst case scenarios
In my view it is just as bad to be incorrectly insured as under insured. This can happen because your insurance needs change over time. When your family is young you typically need life assurance, critical illness cover and some form of income protection in case anything should happen to the main breadwinner - but as children gain independence you will need to reconsider the options.
Life assurance
Whether or not you have a mortgage, life assurance is vital to protect your family in the event of death. Not only will I provide you with quotations and policy information, but I will also give you advice on related considerations, such as putting a policy in trust for your dependants.
Critical illness insurance
In addition to life assurance, critical illness insurance will often be recommended to protect yourself and your family as it pays a lump sum in the event of you contracting one of the many specified ‘critical illnesses’ such as heart attacks, strokes and certain cancers and which often lead to an extended period of being unable to work as well as expensive specialist treatment and recuperative care.
Income protection insurance
Income protection insurance is, arguably, the most important of the various protection insurances for many people as it will provide a replacement income until your selected retirement age in the event of you not being able to work due to an extended period of illness, injury or disability.
Payment protection insurance (also known as ‘ASU’, ‘MPPI’ or ‘PPI’)
Payment protection insurance is an important, but less flexible, type of income protection cover than the full income protection insurance described in the previous paragraph. With this type of policy payments in the event of a successful claim are usually limited to a period of 12 or 24 months but periods of unemployment due to redundancy can also be also covered.
Buildings & Contents insurance
Ensuring that your property is adequately insured is vital. Indeed it will be a condition of any mortgage on a property that the appropriate type and level of buildings insurance cover is maintained.
Contents insurance is rarely a condition of any mortgage but is always recommended. However, unlike buildings insurance when the level of cover is usually specified by the surveyor or your mortgage lender, you are often left to your own devices in terms of working out if you have the appropriate level of contents cover.
Please don't leave any of this to chance. I can help you with the process and, if required, introduce you to specialists who can help in the event of any queries or problems with claims.
“Thank you Bob for all your help and support with the mortgage and the insurances for buying our first home. You helped to make this experience run smoothly and it has been really enjoyable too!”
For protection insurance we offer products from a limited panel of providers.
For Accident Sickness & Unemployment and Buildings & Contents insurance we offer products from a selected panel of providers.
If you would like to contact me you can call 01189 401 354 or complete this short form and I will call you: