Protection that actually fits your mortgage

Life insurance pays a lump sum to your beneficiaries on death, which can be used for any purpose, paying off the mortgage, replacing income, funding childcare. Mortgage protection is specifically designed to repay your mortgage balance if you die, and typically has a decreasing payout that mirrors your outstanding mortgage. Mortgage protection is usually cheaper; life insurance is more flexible.

No. Lenders cannot legally require you to purchase a protection policy from them as a condition of your mortgage. However, buildings insurance is typically a mortgage condition. Protection insurance is not, but it is strongly advisable.

Yes, and it is particularly important if you are. As a self-employed person, you have no employer sick pay to fall back on. If you are unable to work, your income stops. Income protection policies can typically replace 50-70% of your pre-incapacity earnings, paid as a monthly income until you are well enough to return.

Critical illness cover pays a tax-free lump sum on diagnosis of a specified serious condition, typically cancer, heart attack, or stroke, among others. The exact list of covered conditions varies between insurers. The payout can be used for anything, clearing your mortgage, funding treatment, adapting your home, or replacing lost income during recovery.

Employer-provided cover is worth reviewing carefully. Group death-in-service benefits are typically 3-4 times salary, which may not clear your mortgage. Group income protection often has waiting periods of up to 12 months and may stop paying after a limited period. We can help you assess what your employer scheme covers and where the gaps are.

Possibly, but not necessarily as much as you might expect. Many insurers will offer cover with an exclusion for the specific condition. Some will offer standard terms. We work with specialist insurers who are experienced in complex medical histories.

It depends on the type and amount of cover, your age, health history, whether you smoke, and the length of the policy. A healthy non-smoker in their 30s can typically obtain significant life cover for less than ten pounds per month. Income protection for the same person would typically be higher. We will look at what is available for your specific circumstances and budget.

Yes. Many of our clients hold a combination of products, life insurance and income protection, or mortgage protection and critical illness cover. Each policy covers a different risk. The right combination depends on your personal and financial circumstances.

We support clients through the claims process, not just at the point of taking out a policy. We can help you understand what is required, what documentation is needed, and liaise with the insurer on your behalf. At what is inevitably a very difficult time, having someone in your corner makes a significant difference.