Our clients typically set aside around 5% of their net income for protection. It's one of the most important financial decisions you'll make - and one of the least complicated ones to get right.
Every client goes through a financial resilience conversation before we recommend a mortgage. Here's what we can put in place to make sure your home, your income, and your family are protected.
Life insurance
Life insurance pays a lump sum or regular payments to your beneficiaries if you die - giving them financial security at what would be an incredibly difficult time. It can be used to pay off your mortgage, cover living costs, or provide for your family in whatever way makes most sense for your circumstances.
We'll make sure the level of cover is right for your situation and that you understand exactly what you're putting in place.
Critical illness insurance
Critical illness insurance pays out a lump sum if you're diagnosed with a serious condition - cancer, heart attack, stroke, or MS among many others. Unlike life insurance, it pays while you're still alive, giving you financial breathing room at a time when the last thing you need is money pressure.
It can be used however you need - paying off your mortgage, funding private treatment, covering time off work, or simply adjusting to life during recovery. Children's critical illness cover is also available, providing a payout if your child is diagnosed with a serious condition.
We'll make sure the conditions covered and the level of cover are right for your circumstances.
Income protection insurance
Income protection pays you a regular monthly income if you're unable to work due to illness, injury, or accident. It typically replaces 60-70% of your salary and continues either until you're well enough to return to work or until the end of the policy term.
Most people pay monthly to insure their phone, their pet, or their gadgets - sometimes at a cost that rivals what it would take to protect the income that pays for all of them. We'll help you work out the right level of cover and the right waiting period for your situation.
Family income benefit
Family income benefit is a type of life insurance - but instead of paying a lump sum, it provides your family with a regular monthly income if you die. For many families, particularly those with young children, this can be more practical than a large one-off payment that needs to be carefully managed.
It's often used alongside life insurance rather than instead of it, and it's one of the most cost-effective ways to replace lost income over a set period. We'll explain whether it makes sense for your situation and how it might work alongside your other cover.
Home Insurance
Home insurance protects your property and possessions against unexpected events - fire, theft, flooding, and more. There are two main types: buildings insurance, which covers the structure of your home, and contents insurance, which covers your belongings inside it.
We always recommend a comprehensive policy that covers both. We'll make sure you have the right level of cover in place - not just the minimum.
Landlord’s Insurance
Landlord's insurance is designed specifically for properties you rent out - covering the building against risks like fire and flooding, and in some cases damage caused by tenants. It can also include loss of rental income cover, which pays out if your property becomes uninhabitable and you're unable to collect rent.
If you have a buy-to-let mortgage, your lender will typically require landlord's insurance to be in place. We'll make sure you have the right cover for your property and your circumstances.
If you're coming to us for mortgage advice, protection is already woven into your journey - we'll cover everything at your financial resilience call.
If you'd like to discuss your protection needs independently, get in touch using the contact form and we'll take it from there.