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Life insurance isn’t something any of us enjoy talking about, but having peace of mind every day while you’re living life to the full, and knowing your loved ones are protected, is something we should all consider.
At RJ Mortgages we not only advise you on your mortgage options but also discuss with you any potential shortfalls you may have in your existing cover, in the event of loss of income due to accident and/or sickness, critical illness or death during the term of your new mortgage. We will provide you with a quotation and offer you advice to allow you to make an informed decision on ways to protect your new mortgage.
When taking out your new mortgage it is important that you consider other mortgage related products, such as life assurance, critical illness and income protection. The government will not assist you with paying your mortgage interest payments if you are out of work due to accident, sickness or unemployment during the first nine months. It is therefore your responsibility to ensure that you have sufficient protection to enable you to maintain your mortgage payments should your circumstances change.
This is an insurance policy that pays out a lump sum in the event of being diagnosed with one of a specified number of illnesses. This can be used to clear the outstanding mortgage debt and/or provide a lump sum to support yourself or any financial dependents.
An insurance policy designed to provide an income in the event of absence from work due to accident or sickness. It will typically pay a percentage of your normal monthly income following an initial period. Benefit would normally be paid until the end of the policy term, retirement or death, but can also be arranged for a shorter period to reduce the premium.
(FIB) is a type of life insurance but is a little different from the traditional type. Rather than paying out a lump sum in the event of your death, Family Income Benefit would provide your family with a regular, tax-free income or a fixed amount for a set period of time.
Contact us to arrange a free 30-minute consultation where we can answer any initial questions you may have. You can pop a message or any questions you have for us in the contact form and we’ll get straight back to you
