PROTECTION
Protecting ourselves, our family and our home are so important. Whilst none of us want to contemplate the consequences should anything happen, we must all consider what would happen if the person financially supporting the family was no longer able to provide and how can that income be protected.
Put simply protection products are policies that are arranged to provide you and your family with either a lump sum or a regular income should you become seriously ill, or in the event of your death.
We like to ensure that we provide you with all of the options that are available to you within your budget. There is absolutely no obligation to proceed with any of our recommendations.
Life Insurance
Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
Life insurance can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt.
Critical Illness Cover
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses.
This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work.
Family Income Benefit
Family Income Benefit is a life insurance policy which is set for a period of time known as the term.
If you die within this period the policy will pay out a regular tax free income until the end of the term. For example if you have a 20 year policy and die within 5 years the policy will pay out the remaining 15 years.
Income Protection
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness.
These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
As with all insurance policies, conditions and exclusions will apply.
We’re here to help
07412056043
hello@henliemortgage.co.uk
Henlie Mortgages is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
FCA Register No 967134.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £199. The fee will be payable on application.
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