Protection for you & your loved ones

Do you have to have life insurance?  No.  There is no legal requirement to take out life insurance when applying for a mortgage, and in fact, many people don't.

However, serious illnesses are common and can occur unexpectedly to anyone, so it’s important to think about whether you’d be able to afford your monthly mortgage repayments if you were ill or unable to work.  

If you have a family and you were to die, it can help your family pay off the mortgage and keep the home.  It's also important that the right trust is used to ensure the payment is received by the right people at the right time.  Even if you have a will.

Trusts are important because:

• The payout may not be subject to inheritance tax
   
• Trusts can make it easier for your loved ones to access your life insurance money more quickly by avoiding a thing called probate
   
• The payout is better protected from creditors - it won’t automatically be used to pay off debts

Life insurance can give you the peace of mind you need to go ahead and accept a mortgage offer, safe in the knowledge that you and your loved ones will be protected should something ever happen to you.

If you're remortgaging or moving home, it's a good time to review any existing arrangements to make sure you have sufficient cover, and they're still the right products for you.

I'm able to offer advice on a wide range of protection policies, that are designed to help you continue to meet your mortgage repayments and monthly commitments should any of these events happen. 

• Life insurance
• Critical illness cover
• Income protection
• Accident or Sickness

I will help you to decide which types of cover would suit your needs and circumstances, ensuring that these fit within your proposed budget.  I'll also help you complete all the necessary paperwork, giving you more time to focus on your house purchase. 

NHS England Statistics

• There were 346,217 new cancer diagnoses in 2022, on average 948 a day, which is 16,553 more than 2021

• Half of all registered cancer diagnoses (51%) continue to be found in the 4 most common main cancer groups: prostate, breast, lung, or bowel

• Prostate cancer was the most commonly diagnosed cancer in males between the ages of 15 - 44 years, with 54,732 new diagnoses, which is 11,354 more registrations than in 2021

• Breast cancer was the most common main cancer group in females aged 15 - 44 years, accounting for 33% of all cancers diagnosed

 NHS Digital (2023) Cancer registration statistics, England 2022 

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE