Mortgage Protection

Keeping your home through the tough times

Once you have your new home, it’s important to make sure you keep it, however life turns out.

If you lose your job, have a serious illness or even worse, then the last thing you want is to lose your home or income as well. That’s where mortgage protection comes in. The insurance market is at least as complex as the mortgage market, so it can be hard to pick the right protection for your needs. Many people end up without enough cover, or with the wrong cover – we can do the hard work to save you money and worry.

Many of us don’t think that these unfortunate situations will happen to us, or that the costs of protecting against them are very high, but the reality can be quite different. Costs can be lower than you think, but the risks higher.

We will make sure that you have thought through how you would cope in these situations, and provide you with recommendations, using a panel of insurers that are representative of the whole market. We only work with insurers that have excellent customer service and high pay-out rates – doing anything else would seem to defeat the point of taking insurance in the first place.

Protection if you run a business

Whether you are a sole trader, run a small limited company, or have a larger group of staff, there are cost effective ways to ensure that you and the business is covered if the worst were to happen.

Business Protection is an insurance contract that helps protect a business from the financial effects of key people being diagnosed with a critical illness or dying. It is available for sole traders, key employees, shareholders and partnerships, and would typically provide a lump sum which can be used to help cushion the impact of the loss, pay off debts, or enable other shareholders or partners to buy the deceased’s stake from their next of kin.

Relevant life cover is a death-in-service plan set up and paid for by an employer – but benefits the employee. So, they are ideal for small businesses, high earners, and those who don’t want their life cover linked to a multiple of their salary. This is a cost to the company, but a benefit for the employee.

Group life cover is a cost-effective and tax efficient way of providing life cover to all employees within a business (normally a minimum of 5). This is tax-efficient because the payments they make aren’t treated as a P11D benefit, and they qualify for corporation tax relief.

Do you want to understand the cost of providing cover for you and others you work with? And finding the most tax efficient way to set these up? Let us know, and we can set up a free review with our protection specialist to work through the options for you.

Remember, your home may be repossessed if you do not keep up repayments on your mortgage.