Protection

Providing you with cost effective peace of mind and security in an uncertain world

4.9 Rating from 427 Reviews

Protection

Mortgage protection provides a vital financial safety net, for you and your loved ones at a time when you need it most. As mortgage and protection specialists we can help you with a tailored package protecting not only the mortgage debt, but also your income and each other.

Income Protection

Income protection is an insurance policy that pays you a regular, tax-free income if you can’t work due to illness, injury, or disability, helping cover living expenses until you return to work or retire. It replaces a portion of your salary (often 50-65%) and usually includes support services like rehabilitation to help you get back on your feet

Critical Illness Cover

Critical illness cover provides a tax-free cash lump sum if you’re diagnosed with a specified serious illness (like cancer, heart attack, or stroke) during the policy term, helping you cover financial burdens like mortgages, bills, or home adaptations while focusing on recovery. It’s a financial safety net, distinct from life insurance, offering support for specific severe conditions, not general inability to work, though some policies offer early payments for less severe conditions. Children’s critical illness is often available and should always be discussed.

Family Income Benefit

Family Income Benefit (FIB) is a type of term life insurance that provides a regular, tax-free monthly income to your beneficiaries instead of a single lump sum if you die or are diagnosed with a terminal illness within the policy term. It’s designed to replace lost earnings, covering ongoing costs like mortgages, bills, and childcare, and is particularly useful for families with young children or single-income households to maintain their lifestyle. The payments continue for the remaining period of the policy, offering affordable, long-term financial stability for dependents.

Life assurance

Life cover (or life insurance) is a financial product where you pay regular premiums to an insurer, and in return, they pay a tax-free cash lump sum to your chosen beneficiaries (loved ones) if you die or are diagnosed with a terminal illness within the policy’s term, helping them with expenses like mortgages, funeral costs, or living costs. It’s a contract to provide financial security for dependents, not a savings plan.

Buildings and Contents Cover

Building and contents insurance protects your home and belongings from damage or loss, with buildings insurance covering the structure (walls, roof, permanent fixtures like kitchens/bathrooms) and contents insurance covering personal possessions (furniture, electronics, clothes). You can buy them separately or as a combined policy, covering events like fire, flood, or theft, ensuring you can repair or replace what’s damaged, though specific terms, limits, and exclusions always apply.

FAQ's

What is mortgage protection insurance?

Mortgage protection insurance is a general term for policies that help pay your mortgage. This can include life insurance (which pays a lump sum upon death to clear the debt) or mortgage payment protection insurance (which covers monthly payments if you’re unable to work due to accident, sickness, or unemployment).

Is mortgage protection mandatory?

It is not a legal requirement in the UK, but some lenders may make it a condition of the mortgage offer. The only mandatory insurance is buildings insurance.

How does it differ from life insurance?

While standard life insurance pays a lump sum to your beneficiaries to use as they wish, mortgage protection specifically ensures the mortgage debt is covered or provides a temporary income to make the repayments.

Can I get cover with a pre-existing medical condition?

Yes, you can, but it may affect the terms, cost, and eligibility of your policy, as insurers will assess your medical history.

What factors affect the cost (premiums)?

The cost depends on several factors, including your age, health, job type, lifestyle choices (e.g., smoking), the amount you need to cover, and the length of the policy term.

What types of illnesses/events are covered?

Coverage varies by policy:

Life Insurance: Pays out upon death or diagnosis of a terminal illness.
Critical Illness Cover: Pays a lump sum if you are diagnosed with a specific serious condition listed in the policy, such as a heart attack or cancer.
Income Protection (or Mortgage Payment Protection): Provides a monthly income if you cannot work due to illness, injury, or (in some cases) redundancy.

How long do payments last if I make a claim?

For income/payment protection, payments typically last for a maximum period of 12 to 24 months, or until you return to work, whichever is sooner.

Is the payout tax-free?

Generally, insurance payouts from life and income protection policies are tax-free.

What is the difference between Level and Decreasing Cover?

With level cover, the payout amount remains the same throughout the policy term. With decreasing cover, the potential payout decreases over time, usually in line with your remaining mortgage balance. Decreasing cover typically has lower premiums.

Do I have to take the policy from my mortgage lender?

No, you can shop around and compare quotes from different insurance companies or use a broker to find the best policy for your needs.

What happens if I stop making payments?

If you stop paying your premiums, your cover will end, and you won’t get any money back, as these are not savings plans.

When should I review my policy?

It’s wise to review your policy annually or whenever your circumstances change significantly (e.g. marriage, having a child, moving home, changing jobs) to ensure it still meets your needs.

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exchanged mortgages since 2016

Our philosophy

We listen to the needs of our clients and offer impartial and unbiased advice based on their requirements and circumstances. We provide a bespoke financial solution designed to help meet the needs of our clients both now and in the future. We endeavour to make advice documentation clear, easy to understand and ‘jargon free.’ We establish and agree a mortgage review programme to address future needs.