Protection and Insurance

Why do I need Protection?

House prices are higher than they’ve ever been and it is likely that you needed 2 incomes to afford that property.

What would happen if those 2 incomes suddenly become income through death or illness?

Would you still be able to afford those mortgage payments.

What can be done to protect your home?

At UK Mortgage Office we have several products offering you and your family protection in the event of death, illness or terminal disease underwritten by market leading insurers.

Life Insurance

Life Insurance covers an individual for a set amount and pays out a lump sum that can be used to clear the mortgage debt.

By paying a premium each month, your family will get a cash pay-out if you die during the term of the policy. Or you’ll get it early to help remove financial worries if you’re diagnosed with a terminal illness (dependent on the terms of your policy).

Premiums vary by lifestyle, the applicants age, and the total cover amount. Get in touch to discuss further.

Critical Illness Cover

Critical illness Cover is a long-term insurance policy which covers critical illnesses listed within the policy. If you get one of these illnesses, a critical illness policy will pay out a one-off payment which can help pay for your mortgage or any other additional outgoings should you need it.

Examples of critical illnesses that might be covered include:

Stroke
Heart attack
Certain types and stages of cancer
Conditions such as multiple sclerosis

Most policies will also consider permanent disabilities as a result of injury or illness.

Some policies will make a smaller payment for less severe conditions, or if one of your children has one of the specified conditions.

Family Income Benefit

Family income benefit is a type of life insurance that pays out a regular monthly income, rather than a lump sum, to replace the income of the policyholder in the event of death or terminal illness.

The policy has a specified length of time and a fixed or reviewable premium. Usually the term will continue to the youngest child reaches a certain age.

Income Protection

We all insure our Pets, our Home and our Cars but what about if we can’t work through illness or injury? The most neglected and important part of modern day living, especially today, is maintaining one’s income and therefore lifestyle.

Income Protection Cover pays you a percentage of your regular income if you can’t work due to ill health or accidental injury. The benefits start after an agreed period of time called the deferred period.

The deferred period is the amount of time that must pass between your first day off work and the point at which you can start to receive benefit payments. The longer the deferred period you choose, the lower your premiums will be. So, if your employer provides sick pay for a period of time, you may be able to delay when you want your benefit to start by selecting a longer deferred period.

You’re most likely to need Income Protection Cover if you’re self-employed or employed and you don’t have sick pay to fall back on.

For many though, this can be confusing. Everyone’s protection needs are different which is why it’s important to understand what the right cover is for you.

Speak to us today to discuss the correct cover for you.

Buildings and Contents Cover

Having adequate building & contents insurance in place, ensures your home and belongings are protected from unfortunate events, such as theft, fire or a natural disaster like flooding.

Buildings and contents insurance can be purchased separately or together depending on your requirements.

We all know that homes are more than just bricks and mortar and everyone’s individual needs are different.

We can help you to purchase new cover, tailor cover to your personal requirements or see if we can reduce the cost of your current cover.

There are many factors which shape the price of cover, such as whether it will include accidental damage or home emergency cover.