Not everything in life can be predicted
Things don’t always goes to plan in life
Protect yourself and your family from unforeseen events!!!
We will analyse your needs and recommend you the right solution:
✔ Life Insurance
✔ Critical illness cover
✔ Building and content insurance
✔ Income Protection
✔ Relevant Life plan insurance
✔ policies for directors of the business
A life insurance policy pays a lump sum if the insured person dies or is diagnosed with terminal illness during the term of the plan.
The main purpose of a life insurance policy is to provide your family with financial stability after your death.
Very often, people decide to buy a life insurance policy at the time of getting a mortgage. In this case, the sum assured and term of your policy of the policy may correspond with your loan amount and term of your mortgage. People who want to insure themselves will usually decide between having a decreasing or level term assurance plan.
Decreasing term assurance policy is the most suitable to cover your repayment mortgage, where capital and interest are repaid at the same time. Along with the decrease in debt, the amount for which we are insured also decreases.
Level term assurance plan is when the amount for which we are insured remains unchanged throughout the duration of our policy. This type of product is most suitable for interest only mortgages where your loan amount remains unchanged.
Critical illness cover
A critical illness policy pays a lum sum when, during the term of the policy, the insured person is diagnosed with one of the specified illnesses on the policy.
This type of policy allows us to maintain financial stability when we need it the most. The pay-out can be used to repay the entire mortgage as well as to cover the costs of treatment or rehabilitation, the purchase of specialized medical equipment (such as a dialysis machine), or to transform our home for the needs of a disabled person.
For the purposes of fair treatment of the customers minimum standards for this policy were implemented where the basic list of conditions is determined by the Association of British Insurers. Many insurance companies have expanded their offer with additional illnesses and critical events, which has a positive effect on the quality of the products offered to the customers. Thus, the lists of illnesses and the method of their diagnosis may vary depending on the insurance company. It is important to compare various product to make a best product selection for yourself and your family.
We use sophisticated software to compare the quality of cover available and we can illustrate which cover is more likely to pay out based on historical date. Contact us today and let us compare your current plan with market leading products.
Accident and sickness cover.
Accident or sickness insurance, pays us a monthly benefit if we are unable to work due to an accident or illness.
The amount for which we can insure ourselves is determined by the level of our earnings or our mortgage payment depending on the option we choose. In most cases, we can insure about 60% to 65% of our monthly salary (Income protection) or if you choose the so-called Mortgage Payment Protection (MPPI) we insure our monthly mortgage payment. The amount can also be increased by additional costs related to home maintenance (usually up to 33% of the mortgage payment). Your monthly premium is significantly influenced by factors such as the type of work we do. It will be important to obtain information in advance about the benefits offered by our current employer. Policies of this type contain the so-called differed period, i.e., the waiting period, after which the company will start paying us insurance (usually from 30 to 120 days). Another important element relates to the benefit period which can very between 12 to 24 months, or you can even take out income protection policy which covers you until your stated retirement age.
Business insurance – Busines protection.
Business insurance allows you to protect your business when one of the key people in the company dies or is diagnosed with a critical illness.
In most cases, it is difficult to imagine further management and development of the company, especially when the most important person is missing. In the case of a key person insurance the money is paid to the company (Limited Liabilty Partnership), which can be used to hire or train a new employee. In the case of a partnership, each partner has a life insurance policy, which, in accordance with legal regulations, pays the relevant amount to the other partner in the event of death. Very often, large financial liabilities are also insured, where in the event of the death of a person co-responsible for its repayment, the company receives funds to repay the liability from the insurer. The decision to choose business insurance is not determined only through the prism of benefits for our business partners but also for our family and families of people involved in business activity. A very important message for people interested in business insurance is the fact that our monthly premium may be treated as a cost of business activity and thus can be fully included in the costs of business, i.e., also deducted from our tax (subject to accountant’s approval)
Building and Content insurance
This insurance protects the house against events such as fire, flooding, earthquake or subsidence, lightning strike or serious act of vandalism. Every mortgage loan will require us to insure the house for its full reinstatement value. Very often, the content of the house is also insured (content insurance), i.e. everything that constitutes home furnishings and décor – furniture, sofas, carpets, household appliances, sanitary facilities and any valuables kept at the premisses ( up to policy limits– check your T and C)
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