need2protect

Term Insurance/Mortgage Protection Cover

Term assurance enables you to protect your family and your mortgage against your premature death. Additionally, if you choose to add Critical Illness Cover, the plan will pay out on the diagnosis of Critical Illness, for example heart attack or cancer (see Critical Illness). It will provide you with peace of mind that a tax-free lump sum will repay your mortgage. You can also provide for additional cover to look after your family in the event of your death and/or a critical illness. The tax-free lump sum can replace the cumulative income the family will lose on your death and can pay for everyday expenses.

The plan is called a term assurance because it covers you for a period of your choice. For example, if you have a 25 year mortgage, then a policy can be taken out for 25 years and will pay out if you die and/or contract a critical illness during that period. It is an inexpensive way of providing cover because it only pays out on these events. It has no investment element or surrender value.

To work out the cover you require to protect your mortgage is easy – it is the initial value of the mortgage written over the term of the mortgage. There are a number of ways that you can calculate the term required and lump sum required to protect your family, but you would normally take into consideration the ages of your children and the level of your net income.

The policy can be taken out on a single or joint life basis. Joint life means that the policy will pay out on a first death basis in the event of your spouse/partner dying first, or if you have critical illness cover the policy will pay out when the first of you contracts a specified illness during the policy term.

Need2Protect Ltd is independent and as with all the products we recommend, we can source all the providers and policies available to provide you with your best option.

Mortgage protection cover is essentially a term assurance policy with all the features detailed above. However, it can be used to protect a repayment mortgage (capital and interest), whereby the cover reduces in line with the amount of the mortgage paid off. This is therefore a low-cost version of term assurance.

To find out how much cover you need and how much it will cost visit this link to 
 https://diverse-mortgages.prequo.co.uk

*These types of plan will have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Incomeprotection1

Income Protection

CriticalIllness

Critical Illness

term-insurance

Term Insurance

(To protect your mortgage and family)
family-income-protection

Family Income Benefit

MultiCover

Multi Cover

BusinessInsurance

Business Protection

Inheritance

Inheritance Tax Protection

GeneralInsurance

General Insurance

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