Family is important; that’s why it’s best to get expert advice to help protect what matters, when it matters!
Thinking about the consequences should anything happen to the main breadwinner isn’t something any of us want to contemplate. However it is important when arranging your mortgage to take the time to protect you and your family should the unthinkable happen.
Put simply, protection products are policies that are arranged to provide you and your family with either a lump sum or a regular income should you become seriously ill, or in the event of your death.
We have listed some of the most popular types of insurance below:
Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
Life insurance can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt.
Critical Illness Cover
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work.
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
Family Income Benefit
Family Income Benefit is a life insurance policy which is set for a period of time known as the term. If you die within this period the policy will pay out a regular tax -free income until the end of the term. For example if you have a 20 year policy and die within 5 years, the policy will pay out the remaining 15 years.
For more information on which protection policy best suits your needs call us today.
Call us on +44 (0)1480 718707 or use our Contact Page
We may charge a fee which can typically be £250 on acceptance and £250 on completion. The information given in this website does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.
The FCA does not regulate some forms of Buy-to-let mortgages. If you have a complaint or dispute with us, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us either in writing, by telephone or email. Please be assured we treat complaints seriously. For your protection if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS).
Constant Finance is a trading style of Bespoke Mortgage and Finance Centre Limited which is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority. FCA Register No 498914. Country of Registration: England and Wales. Registration Number: 06864018. Registered Office: 25 Morgan Close, Yaxley, Peterborough, PE7 3GE. Calls may be recorded for training and security purposes.
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