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INSURANCeS
LIFE INSURANCE
Mortgage life insurance helps pay off your mortgage if you pass away before it’s fully repaid. It’s often a decreasing term life insurance policy, where the payout reduces as you pay down your mortgage. The purpose is to cover the outstanding mortgage balance upon your death, not as a legal requirement for the mortgage itself.
Critical Illness Cover
Critical illness cover provides a tax-free lump sum if you’re diagnosed with a specified serious illness. This payout can help with treatment, mortgage, rent, or necessary home modifications (like wheelchair access). It’s often added to a life insurance policy for extra protection.
Income Protection
If you’re unable to work due to illness or injury, income protection insurance can cover your mortgage payments for up to 12 months (or until you return to work, whichever comes first). Some policies may offer extensions, giving you extra peace of mind during difficult times.
Family Income Benefit (FIB)
Family Income Benefit is a life insurance policy that provides a regular monthly income to your dependents instead of a lump sum. If you pass away, your loved ones will receive this tax-free income to help cover mortgage payments, rent, and household bills. This cover lasts for a specified period, offering long-term financial stability for your family.
Buildings Insurance
Buildings insurance covers the cost of rebuilding your home if it’s damaged or destroyed. It’s often a requirement if you have a mortgage. This includes repairs to the property structure, garages, fences, and systems like plumbing and wiring. Buildings insurance typically covers:
- Fire, explosions, storms, and floods
- Theft, vandalism, and attempted theft
- Burst pipes, fallen trees, and damage from vehicles or aircraft
- Subsidence or earthquakes
Ensure the policy covers the full cost of rebuilding, including demolition, site clearance, and professional fees.
Wills, Trusts & Powers of Attorney
Planning for the future and protecting your assets offers peace of mind, regardless of age. Whether you need assistance with making a will, tackling inheritance tax, or protecting your investments, our expert advisors are here to guide you in securing your finances and ensuring your loved ones are taken care of.