Once you have secured your mortgage offer it is important to protect your future assets against life uncertainties. Unexpected events strike when we least expect it. There are various protection policies available to protect you against these events that will make sure you are covered and give you peace of mind. Some examples are listed below:
A protection policy which helps protect your family and home in the event of death. If you were to die your mortgage debt does not die with you. If it was unaffordable, the family could end up potentially losing their home. Taking out life assurance can ensure the mortgage is paid and leave your family mortgage free to help ease the burden of such a loss.
A protection policy that will pay a lump sum out if you become diagnosed with a specified medical illness or injury listed in a policy i.e. heart attack, stroke, cancer. This lump sum is designed to help pay off the mortgage, or to provide a lump sum if you are unable to work again as you will still be responsible for the mortgage even if you cannot work.
There are also other income protection policies designed to protect your quality of life if you couldn’t work due to an unforeseen event, if you were sick or accidentally injured and couldn’t work and you wanted to protect your income. We can review your requirements and discuss the most suitable income protection policy for you.
Client’s individual requirements can always change as well with lifestyle changes and we can always review protection policies to make sure they are still meeting your individual requirements. As with all insurance policies, conditions and exclusions will apply.