You need to consider what would happen to you, your partner and your family if you couldn't pay your mortgage due to considerable change in circumstances...
Coombes & Wright Mortgage Solutions have access to a range of protection providers to help ensure, should the worst happen, you can keep the roof over you and your family’s head.
Life insurance gives you peace of mind that your loved ones will be provided for should you die. There are many different ways to arrange life cover and our advisors can help you find the best deals available. Life insurance ensures that in the event of death your mortgage will be repaid and the costs not passed on to your dependents or loved ones. Level term insurance provides a set level of cover for the term you choose. Decreasing term insurance covers you for the term you choose, but the level of cover decreases through the term of this policy.
Critical Illness Cover
Critical illness cover pays a cash lump sum on diagnosis of a specified critical illness and can be the solution to your financial worries at this time. For this relatively small cost, you could help your family cope for a while without income to pay household bills and debts. This type of cover will pay out a lump sum which could pay for other things like:
|Prescribed drugs not available through the NHS|
|Changes to your home|
|Paying off all/part of your mortgage|
Only some forms of Cancer, heart attack and stroke are covered under critical illness insurance.
This offers customers the security of knowing that their essential repayments will be made if anything happens. For example, if you are in an accident and are unable to work for a while, a lack of comprehensive income protection cover means you will rely solely on state benefit – around £70 per week – which is unlikely to be sufficient to meet your mortgage repayments. This is where income protection can help as it provides a tax free monthly payment until you are able to return back to work.
Accident, Sickness & Unemployment Cover (ASU)
Accident, Sickness & Unemployment insurance typically costs £4.10 a month for every £100 of monthly benefit. This is based on a 39-year-old customer choosing £1,000 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 information about insurance, please visit the website at www.moneyadviceservice.org.uk.
Accident, sickness and unemployment cover insures you against changes in your circumstances due to redundancy, disability, or illness. Usually payments are made for up to a maximum of 12 months. If you would like to be covered for longer than this you may want to consider taking out income protection. For Accident Sickness and Unemployment Insurance our advisors usually offer products from a limited panel of providers.
Buildings & Contents
Our advisors offer a range of competitive insurance products if you are a Homeowner, Landlord or Tenant from a number of leading UK insurers. For your added peace of mind, our advisors can also arrange adequate contents insurance so that your belongings are covered against things like fire, theft and flood. For Buildings and Contents Insurance our advisors usually offer products from a limited panel of providers.
*As with all insurance policies, conditions and exclusions will apply.
*For Buildings and Contents insurance we act as introducers only.
*For Accident, Sickness and Unemployment (ASU) plans we act as introducers only.