Protection

PROTECTION

Protect Your Future

Once you’ve had your mortgage approved, the next step is to think about protecting your home and family. The mortgage isn’t usually the only payment we need to make each month. What about covering everyday
bills and expenses? Utility bills, food shopping, travel costs, childcare… the
list could go on. It is not a pleasant thought, but…

• How would one partner cope financially with the death or critical illness of the other?

• Could you cope maintaining your current lifestyle?

• Could you continue to raise your family?

In the current economic climate, it’s even more important to consider
protecting yourself and your family. Protection products can help provide
financial peace of mind when it’s needed most. They’re designed to
provide you with a cash sum or monthly benefit (depending on the plan chosen).

They are payable, for example if you die or are diagnosed with a terminal or specified critical illness during the policy term and are eligible to claim.
Please note that none of our protection products have any cash in value at any time.

Depending on the products chosen, they could help you to:

• Maintain your standard of living

• Pay your monthly bills and meet your daily living costs

• Pay off your debts

• Afford to stay in your family home rather than have to downsize.

7 Families

7 Families is a charity led campaign to raise public awareness of the financial impact of long-term illness or disability. Please take the time to watch the short video and call us to discuss how we can protect you and your family.

More information about the families and the campaign can be found on their website or Facebook page:

www.7families.co.uk

Life Insurance

Life insurance pays a lump sum in the event of your death. This usually is taken to run alongside your mortgage so in the event of your death the mortgage is repaid.

Critical Illness Cover

Critical illness cover is designed to pay out a lump sum if you are diagnosed with certain pre-specified illnesses. 

Whole of Life Cover

As the name suggests, Whole of Life cover is an insurance policy which gives you lifelong cover. A pay-out is guaranteed when you die, whenever this may be. 

Income Protection

An income protection plan is designed to pay out a monthly income in the event that you are unable to work due to an accident or illness.

Family Income Benefit

Rather than paying out a lump sum if you die, family income benefit provides a regular, tax-free, monthly income for your dependants. 

Accident, Sickness & Unemployment

ASU is designed to give you a monthly income in the event that you are off work due to an accident, sickness or redundancy. Claims are usually paid for a maximum of 12 months or until you return to work.

Accident, Sickness and Unemployment Cover typically costs £4.71 a month for every £100 of monthly benefit. This is based on a 36-year-old customer choosing £850 of accident, sickness and unemployment monthly benefit with claims paid after a 30-day deferred period.
The cost of this insurance depends on a number of factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances.

There are other providers of Short-Term Income Protection and other products designed to protect you against loss of income. For impartial advice about this type of insurance, please visit the website www.moneyadviceservice.org.uk’

Serious Illness Cover

This cover is designed to pay out a proportionate benefit dependent on the severity of illness for pre-specified conditions. 

As with all insurance policies, conditions and exclusions will apply.
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