Life Insurance Plymouth

Protecting your family in the event of death and/or illness

As well as helping you with your mortgage requirements, the team at Mortgages4Plymouth is responsible for offering you advice that will enable you to protect both your home and your family in the event of sickness, death or serious illness.

We will not only help you to understand why this is important, but will also explain your options and how protection products can be used to protect your family and home in the event of unforeseen circumstances.

Understanding protection products available to you and your family

Life Insurance

Life insurance protects the policyholder’s family and home in the event of death, reassuring the policyholder that their death will not result in financial hardship for their family.

The life insurance policy pays a lump sum of money (the ‘benefits’) in the event of the policyholder’s death, in exchange for which the policyholder pays an agreed regular or lump sum amount (premium).

Family Income Protection Benefit

Family Income Protection Benefit insurance protects the policyholder’s family by ensuring that they have a regular, acceptable level of income in the event of death or diagnosis of a specified serious illness.

Family Income Protection Benefit will pay a regular monthly income on the event of the policyholder’s death.

Income Protection

Income Protection protects the policyholder/ the policyholder and their family, by ensuring that they continue to receive a regular income in the event that the policyholder is unable to work due to illness or accident.

The benefits of an Income Protection policy are paid to the policyholder as a monthly tax-free benefit under current tax year 2017/2018 legislation in the event that they are unable to work due to illness or accident.

Critical Illness Cover

Critical Illness Cover provides protection to the policyholder/ the policyholder and their family, in the form of a tax-free lump sum payment under current tax year 2017/2018 legislation on diagnosis of a listed critical illness, reducing the financial burden at that difficult time.

The benefits of a Critical Illness Cover policy is paid on diagnosis of a listed critical illness, usually after one month of surviving the illness.  Policies cover a number of core illnesses within their policy, namely: cancer, coronary artery bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke.  There are wide range of critical illness conditions now covered by Critical Illness Policies, the range of which is dependent on the insurer and the terms and conditions of its Critical Illness Cover product.

Mortgages4Plymouth is an appointed representative of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority. First Complete Ltd is entered on the Financial Conduct Authority register (www.fca.org.uk/register) under reference 435779 for mortgage and non-investment insurance advice. The Financial Conduct Authority does not regulate some forms of Buy to Let. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

We will charge a fee of between £199 and £399. The precise amount will depend on your circumstances. This fee is payable on completion. We will also be paid a fee from the lender. Wills are not regulated by the Financial Conduct Authority.

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

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED AGAINST IT. Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable.

Wills and some trusts are referred to a 3rd party. Mortgages 4 Plymouth and First Complete Ltd are not responsible for any advice received from the 3rd party.

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