MORTGAGE PROTECTION IN DARTFORD
Our experienced consultants can provide you with Mortgage Protection in Dartford, North Kent, through our select panel of insurers.
Nearby areas also covered by our team include, Bexley, Welling, Bexleyheath, Bluewater, Blackheath, Orpington, Sidcup, Swanley, Chislehurst and Bromley
If it’s been a few years since you last reviewed your life, critical illness or income protection insurance, it may be time for a review. We can help you to protect your family, or anyone else that relies on your income, should the unexpected happen.
The truth is, hardly anybody likes to pay for insurance. Yet, can you ultimately afford to take the risk? Regardless of how wealthy you are, insurance is a necessity to protect yourself, your family or your estate.
Life Insurance – Protecting Your Mortgage
Your mortgage is likely to be one of your household’s biggest expenditures and life insurance will help provide a financial safety net for your family if you die. The sum assured can be used to provide an income for dependents or to repay any debts.
Our consultants can help you calculate the financial implications of your death and the effects this will have on your family’s lifestyle. We can create a plan to provide a capital sum that will ensure your family is financially stable and not subject to unnecessary inheritance tax.
Level Term Insurance. Here, the sum assured remains the same throughout the term of the policy. This may be suitable if you have an interest-only mortgage. In the event death during the policy term, your dependents will receive the same pay out. As the sum assured always stays the same, it will only be reduced by the effects of inflation or indexation.
Decreasing Term insurance is slightly different. The sum assured will reduce broadly in line with what you owe on your mortgage. Monthly premiums can remain the same throughout the term of the policy. The premiums will also be lower than the level term alternative. Should you die, your dependents may be able to pay off the mortgage and won’t have to worry about being forced to leave the family home.
Critical Illness Cover
Most people appreciate the need for life insurance to protect loved ones in the event of their death. However, with the advances in modern medicine people are now living longer and recovering after suffering very serious illnesses. Life insurance policies remain, and rightly so. However, you do not receive any money for staying alive.
If you were to suffer a critical illness the financial implications can be detrimental. You may have to make whole lifestyle changes to help you during the recovery period. This may involve leaving your job, moving home and even having to receive private medical treatment or care. All of which could prove to be very costly.
Our consultants are experts in critical illness plans. If you’re diagnosed with a qualifying illness and survive for the minimum period, you will receive a lump sum payment. These funds can be used for any purpose. You may need to repay debts, pay for life changing adjustments or just replace the income you may have lost through being ill.
Life Insurance aside, protecting your income could possibly be the most important insurance of all. You’re in effect protecting your future asset base. You’re significantly increasing the ability to receive a future income.
Our consultants can help you to arrange an income protection plan that fits appropriately within your affordability. We will assess any existing provisions you may have through employment benefits or private policies. This will enable us to determine whether your existing arrangements are adequate, or if you need to review your current level of cover.
Income protection insurance can help to maintain your current lifestyle, if you’re unable to work through illness or injury. By replacing your personal income, it provides the reassurance that for each month that you are unable to work, you will receive a monthly payment to maintain your financial commitments and personal lifestyle.
Speak to a Free Mortgage Advice Protection Consultation today!