What is protection?

Protection is an umbrella term for a range of insurances and policies you can put in place to provide financial relief to you and your family in the event of a tragic or unforeseen situation. The type of things you can cover range from receiving a monthly payment if you fall ill or have an accident leaving you unable to work, all the way to your family collecting a lump sum if you happened to pass away.

We are providing advice in Life cover, Critical Illness Cover, Income Protection, Mortgage Protection, and some general insurance like Home insurance, Private Medical insurance etc.

Types of protection

Life Cover

Life Insurance isn’t for you, it’s the last gift for those you leave behind and love most. You can rest comfortably knowing that if you were to pass away, your loved ones would be looked after financially and be able to maintain the lifestyle you have provided. When covering yourself for Life Insurance, it is essential to consider the following: debts you may have, i.e., mortgages, loans & credit cards, people who depend on you financially and what you would like their future to look like. It is also important the policy is set up correctly to ensure the right money goes to the right people at the right time and we do this by writing your policy in trust at no cost to you.

Mortgage Life Cover

Mortgage life insurance is term insurance that decreases every year to keep pace with the mortgage that you owe. It will pay out the amount you owe on your mortgage at any time during the term. Although the sum assured is decreasing each year, the premium remains level throughout the term. This type of insurance is probably the cheapest to buy because the risk to the insurance company reduces each year. As in any type of term policy there is no investment content so no cash return.

Critical Illness Cover

Critical Illness Cover is designed to pay a lump sum if you are diagnosed with a critical illness such as Cancer, Heart Attack, Stroke or MS.  For example, if you were diagnosed with cancer, how would you financially survive? It is typically designed to clear the mortgage or provide an income meaning you would be able to concentrate on what is important – your health. This takes away the financial worry and pressure and potentially gives you the financial strength to pay towards treatment, special care or go on a once in a lifetime trip – the money is yours to do as you wish; the point is you have options, and that is priceless.

Income Protection

Probably the most important of the range of protection products. Let’s face it if you are of work sick and you are on Statutory Sick Pay (currently £109.40/week), everything else fails.

The mortgage doesn’t get paid, the car payments fail, and the fact is you are in financial trouble.

Income Protection pays out a monthly payment of up to 65% of your gross pay. This payment is currently tax free.

You can defer your claim from one day to one year. It depends on how long you can do without your income. You may have savings, or your employer may pay you for six month or even one year. That is when you would want the policy to kick in.

It doesn’t matter how many claims you have or if you are off work with an illness you had previously claimed for you will be covered. This differs from critical illness as you could well be off work because of an accident which critical illness would not cover.

This type of policy normally runs to your retirement or you cease work. There is no investment value so no return. You can link your sum assured to inflation so that the pay-out will increase over the years with your income. This is probably the most undersold policy in the market.

General insurance

Private Medical Insurance

Private medical insurance also known as health insurance is a type of cover that pays your private healthcare costs if you have a treatable condition.

Whether it’s overnight care, outpatient treatment, diagnostic tests, scans or aftercare, you get the specialist private treatment you need, in comfortable surroundings, when you need it.

How does health insurance work?

You choose the healthcare benefits you need and pay a premium. Then, if you get a short- term illness or injury, and are referred by your GP, you will be able to choose from a wide range of high-quality private facilities and hospitals.

Buildings Cover

Buildings insurance covers the cost of repairing damage to the structure of your property. Garages, sheds and fences are also covered, as well as the cost of replacing items such as pipes, cables and drains.

Your policy would cover you if the damage occurred from any of the following: fire, explosion, storms, floods, earthquakes, theft, attempted theft and vandalism, frozen and burst pipes, fallen trees, lampposts, aerials or satellite dishes and more.

Buildings insurance will be a condition of the mortgage and must be at least enough to cover the outstanding mortgage. It is a vital policy that you must need, so to ensure you get it right, let us help to put the policy in place.

Contents Cover

Contents insurance is one of the two main types of home insurance. It covers the contents of your house in the event of loss, damage or theft.

Home contents insurance policies will cover pretty much everything you own, except the building itself. In fact, an item is covered if it’s something you would bring with you when moving home, including carpets and light fittings.

A lot of policies will have limits on how much you can claim for, so we encourage anyone to speak to an adviser, so that we can create a policy that fits perfectly for you and your belongings.

Landlord Cover

Landlord cover, or landlord insurance is a type of insurance that protects landlords from any risks that could come from their rental properties. These policies can include buildings and content insurance, along with property owner liability insurance, loss of rent cover and more landlord specific insurance types.

If you own one of more properties that you rent out, it is very important that you have the right protection in place to ensure you’re covered.