As an
Independent Mortgage Broker, we are not only mortgage specialists, but we can
also access the whole market for your insurance protection needs too.
Many
banks and building societies and estate agents are “tied” to one insurer, and
therefore cannot compete with an Independent specialist like us on cost or
benefits as they only offer one product. This is a complex area and, in our
view, is sometimes a more important decision than the mortgage. Whereas a
mortgage deal may only last two or three years, the right protection could last
the whole term!
We
therefore always have a free face to face consultation with you and one of our
experienced advisers to discuss your individual requirements to help us with
our personal recommendations.
We
have listed below a brief description of some of the many types of protection
currently available, which may help narrow down your choices. Please feel free
to call us and we will arrange an appointment with you at home, in your office
or at our offices in Henleaze or Topsham.
What is critical illness cover?
Critical
illness insurance will pay out if you get one of a number of a specific medical
conditions or injuries listed in the policy. But be aware that not all
conditions are covered and policy will also state how serious the condition
must be.
Most
policies will also consider permanent disabilities as a result of injury or
illness. A critical illness policy only pays out once and then the policy ends.
Some policies will make a smaller payment for less severe conditions, or if one
of your children has one of the specified conditions.
What is not covered?
Some
serious illnesses might not be covered, for example, some cancers and
conditions not listed in the policy. You probably won’t be covered for health
problems you knew you had before you took out the insurance, and this type of
insurance does not pay out if you die. What’s covered and what’s not, will be
set out in the policy details so make sure you’re fully aware of them and that
they cover your needs. We guide you through all the considerations to find the
right policy to meet your needs.
Do you need critical illness cover?
State
benefits might not be enough to replace your income if something goes wrong. If
you’re eligible, welfare benefits range from around £70 a week to just over
£100 a week, depending on your circumstances (i.e. whether or not you have
children, a certain level of savings, or if your partner works).
Critical illness cover could be considered if:
·
you do not have
savings to tide you over if become seriously ill or disabled
·
you do not have an
employee benefits package to cover a longer time off work due to sickness
Who does not need it?
You
might not need it if:
·
you have enough
savings to fall back on and can adequately cover expenses such as bills, loans,
medical costs or a mortgage.
·
you have a
partner who can cover living costs and any shared commitments, like a mortgage
·
You might already
have some cover included in other products or work benefits.
How much does it cost?
Your
monthly payments will depend on a number of factors, including:
·
age
·
whether you smoke
or have previously smoked
·
health (your
current health, your weight, your family medical history)
·
job (some
occupations carry a higher risk than others and may mean you have to pay more
each month)
·
the amount of
cover you take out
For more information about anything
relating to your house purchase or move, your mortgage or protection or insurance,
please get in touch
Call: Bristol office 0117 325 1511 or Exeter
office 01392 690 888
Please visit the protection pages on
our websites for more information
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