Life Insurance and Mortgage Protection are essentially the same thing. The terms are interchangeable and are dependent on how insurance companies market their product. Life Insurance is designed to pay out the amount you are covered for if you pass away during the term of the policy.
For repayment mortgages, it’s cheaper and more efficient to choose a policy that reduces in line with the mortgage so you’re not paying for cover that’s not absolutely necessary.
It can often be difficult to establish the right level of cover. It can be equally tricky to choose the right term to get your cover over. There are many things to take into consideration when establishing the right medium. One of the most important things is making sure the cover remains to be affordable (particularly for Whole of Life policies).
Other things to consider are: The term of your mortgage; retirement age and how your pension is structured; work benefits; how old your children are and what age they will be financially independent; other debts/liabilities; lifestyle and partners needs. These are to only name a few. We will guide you, address your needs and put together a plan which works for you and fits within your budget.
If, like many of our existing customers, you want to make sure you’ve got the best cover without paying an absolute fortune, you will benefit from speaking to one of our Protection Experts. They will talk you through what’s available and ensure you get a plan that’s best suited to your needs and budget.
Unlike Mortgage Advisers and many other Insurance Brokers, we work across the market to make sure you get the best possible cover to fit within your budget. We’ll ask you about your health, lifestyle and occupation before you apply for your cover so there are no nasty surprises later on. What’s more is that we charge no fees at any point for anything we do.
Looking at Life Insurance really can be a minefield… How much Life Insurance do I need? Should I look at Critical Illness Cover? What’s the difference between Income Protection and Critical Illness Cover? What’s the best thing for me and my family? Let us answer all these questions and help you chose the right cover for your needs.
Our partner LifeSearch has won Protection Intermediary of the Year 10 times in the last 11 years, which speaks volumes about the level of service we offer our clients. We are here to help you so why not get in touch for your free, no obligation quote today?