It has never been more important to protect yourself and your family to what life may throw at you. This is where we are able to help – we provide full protection advice and regular reviews to ensure you are as protected as possible should the worst happen.
The world of protection is a complicated and not a straightforward one – as your advisers we take it particularly seriously and a key responsibility for you to be fully protected.
We at Mortgage Haven UK place a huge importance on protection to ensure our clients are as fully protected as possible to ensure they are looked after should the worst happen. Your mortgage is the largest investment you are likely to have, it makes sense to protect your investment.
Protection includes the following types of policies –
Life insurance
Life insurance is a type of cover which pays out a lump sum to your beneficiaries upon your death. It is therefore designed for people with dependants.
Unless critical illness cover is added to your policy, it won’t pay out if you become seriously ill and does not cover redundancy. So, those living alone or without a beneficiary after death might be more inclined to take out mortgage protection cover.
Income protection
Income protection policies pay out if you’re unable to work due to sickness or injury, but is not linked directly with your mortgage. It’s like a mortgage protection plan, but your pay-out will come in the form of cash and won’t cover your mortgage repayments directly, and redundancy is not covered
This might be suitable for those who are looking to use their cash flexibly.
Critical illness cover
Critical illness cover can pay out if you’re diagnosed with certain illnesses. These illnesses are listed in your policy documents and can include certain types of cancers, heart attacks and kidney failure. If you have a life insurance policy it is worth checking your documents to see if you’re already covered for critical illness.
Like income protection, this pay-out has a certain degree of flexibility, and won’t just cover the cost of your mortgage repayments.