Protecting Your Future: Life Insurance, Critical Illness, and Income Protection
We understand that securing your mortgage is just one part of ensuring your family’s financial future. It’s equally important to safeguard your home and loved ones from unforeseen circumstances. Here’s a comprehensive guide to life insurance, critical illness cover, and income protection from a mortgage broker’s perspective.
Life Insurance
What is Life Insurance?
Life insurance provides a financial safety net for your loved ones in the event of your death. It ensures that your mortgage and other significant expenses are covered, giving your family peace of mind during difficult times.
Types of Life Insurance:
Term Life Insurance: Covers you for a specified term, usually aligned with the length of your mortgage. If you die within this term, the policy pays out a lump sum to your beneficiaries.
Whole Life Insurance: Provides coverage for your entire life, paying out a lump sum whenever you die, as long as premiums are maintained.Why
Life Insurance is Crucial for Homeowners
Financial Stability: Helps cover everyday expenses, educational costs, and other financial commitments.
Peace of Mind: Provides reassurance that your family will be financially protected no matter what happens.
Mortgage Repayment: Ensures your mortgage is paid off, so your family doesn’t face losing their home.
Critical Illness Cover
What is Critical Illness Cover?
Critical illness insurance pays out a lump sum if you’re diagnosed with a serious illness specified in the policy, such as cancer, heart attack, or stroke. This helps cover medical expenses, mortgage payments, and other costs during recovery
.Key Benefits:
Financial Cushion: Provides a lump sum to cover immediate expenses and potential loss of income.
Focus on Recovery: Allows you to concentrate on your health without worrying about financial strain.
Flexible Usage: The payout can be used for anything, from medical treatments to modifying your home for accessibility needs
Why Critical Illness Cover Matters:
Mortgage Security: Ensures your mortgage payments continue even if you’re unable to work due to a serious illness.
Comprehensive Protection: Complements life insurance by covering major health setbacks that don’t result in death but still have significant financial impact.
Peace of Mind: Knowing you’re protected if serious illness strikes provides valuable peace of mind.
Income Protection
What is Income Protection?
Income protection insurance provides a regular income if you’re unable to work due to illness or injury. It typically covers up to 70% of your gross income until you can return to work or reach retirement.
Advantages of Income Protection:
Steady Income: Ensures you continue to receive a portion of your salary, maintaining your standard of living.
Long-Term Support: Unlike short-term policies, income protection can support you for years, depending on the policy terms.
Tailored Coverage: Policies can be customized to suit your specific needs, including waiting periods and payout duration
Importance for Homeowners:
Security for the Self-Employed: Especially vital for self-employed individuals who don’t have employer sick pay to fall back on.
Mortgage and Bills: Keeps your mortgage payments and other essential bills covered, so you don’t risk losing your home.
Financial Stability: Provides a safety net that helps maintain your financial stability during long-term illnesses or injuries.
How We Can Help:
At Emily’s Mortgage Services, we specialise in helping you find the right protection products tailored to your needs and circumstances. Our expert advisors will:
- Assess Your Needs: Understand your financial situation, mortgage details, and personal circumstances.
- Compare Policies: Source the best life insurance, critical illness cover, and income protection policies from leading providers.
- Customised Advice: Provide tailored advice to ensure you have the right level of cover for your unique needs.
- Ongoing Support: Offer ongoing support and reviews to keep your protection up to date with any changes in your life.
Get In Touch
Protecting your home and your loved ones is a crucial step in financial planning. Contact us today to schedule a free consultation. Let us help you secure the future for you and your family.
Emily’s Mortgage Services
Registered Address
Fakenham, Norfolk
NR21
Hours
Contact Us
07359 749152
emily@e-mortgageservices.co.uk
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Some buy to let mortgages and commercial mortgages are not regulated by the Financial Contact Authority.
Typically, we charge a fee of £299 for residential mortgages but this can vary based on your personal circumstances. No fees are usually taken upfront and will be payable on issue of your formal mortgage offer, but this can vary based on your personal circumstances. This fee is not refundable. We do not charge fees for arranging Protection or General Insurance.
Emily’s Mortgage Services LTD is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register Number is 1017957. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register.
Emily’s Mortgage Services Ltd. is a company registered in England and Wales under registration number: 15170329. Registered Address: Baxter Close, Fakenham, NR21 8LE
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Emily's Mortgage Services LTD 