Life Insurance/Mortgage Protection
Life Insurance
One of the most important elements of the financial planning process is to ensure that the dependants, spouse or partner will have enough income should the insured person die.
Insurance cover can now be arranged on a dual life/joint life basis for families or on a single life for individuals. The aim is to provide an adequate amount of insurance cover usually as a multiple of the salaries to ensure that all dependants can maintain their standard of living.
We will give extensive advice on how to best arrange a suitable life cover protection.
Mortgage Protection
These are specific policies to cover any loans or mortgages, the aim of the policy is to only pay the remaining balance of the mortgage, therefore leaving no surpluses. The sum insured decreases by a set percentage each year to match the repayments. These can be arranged on a single or joint life basis.
Specified illness cover can be added to the these policies as an optional extra so that the mortgage can also be fully cleared in the event that the insured is diagnosed with one of the specified illnesses which include cancers, heart attack, stroke and heart bypass surgery and other major illnesses. Please refer to specified illness cover page for more information.