Insurance - is it important ?
The answer is, yes - even if you decide not to take it out.
What is extremely important, is that you consider it on an informed basis, understand the implications of covering or not covering a given risk and fully undertsand what your insurance (current or new) will do and will not do.
My job as an adviser is to ensure that you make informed decisions.
Generally, the only compulsory insurance with regard to a mortgage you take out is that covering the building on it which the mortgage is secured.
It is your responsibility to consider whether your possessions, your life and ongoing health and earning potential are covered. and whether you wish to do so
What is extremely important, is that you consider it on an informed basis, understand the implications of covering or not covering a given risk and fully undertsand what your insurance (current or new) will do and will not do.
My job as an adviser is to ensure that you make informed decisions.
Generally, the only compulsory insurance with regard to a mortgage you take out is that covering the building on it which the mortgage is secured.
It is your responsibility to consider whether your possessions, your life and ongoing health and earning potential are covered. and whether you wish to do so
Building & Contents Insurance - protect your home and possessions
Often incorrectly assumed to be a simple product, to be selected online simply on price - you need to be be careful about detailed cover levels (and of incurring credit searches and/or volunteering for endless mail lists).
We have access to multiple panels covering dozens of insurers and can talk you through the implications and suitability of the products and multiple components.
Please note: At the time of exchanging on a purchase, or on completion of a remortgage any mortgage lender involved will require that you have appropriate buildings cover in place.
We have access to multiple panels covering dozens of insurers and can talk you through the implications and suitability of the products and multiple components.
Please note: At the time of exchanging on a purchase, or on completion of a remortgage any mortgage lender involved will require that you have appropriate buildings cover in place.
Life & Serious/Critical Illness Protection - the big gamble ?
The principle of life insurance is generally understood by most clients.
We suggest that clients also take some level of cover to apply in the event of their suffering serious illness which would potentially limit their ongoing income.
A commonly used quote in this office is: "Its cheap to die, its expensive to live sick".
These are complicated products with multiple options and a formal advice process is strongly recommended to ensure appropriate cover.
This process also investigates the benefits of using trusts to speed and ringfence the benefits for the purpose they were designed for.
We suggest that clients also take some level of cover to apply in the event of their suffering serious illness which would potentially limit their ongoing income.
A commonly used quote in this office is: "Its cheap to die, its expensive to live sick".
These are complicated products with multiple options and a formal advice process is strongly recommended to ensure appropriate cover.
This process also investigates the benefits of using trusts to speed and ringfence the benefits for the purpose they were designed for.
Income Protection Insurance - the other gamble ?
The description of 'Income Protection' covers a number of quite diverse insurance options.
Versions of the 'Life & Serious/Critical Illness' policies can be set-up to provide regular monthly payments over a period - effectively replacing income lost due to death or qualifying illness related inability to work.
Accident & Sickness based policies (to which Unemployment cover can sometimes be added), relate to the inability to work rather than an illness definition, but are usually short term in benefit (1 or 2 years).
Ther are a number of variations and options affecting both these approaches and, again, a formal advice process is strongly recommended to ensure appropriate cover.
Versions of the 'Life & Serious/Critical Illness' policies can be set-up to provide regular monthly payments over a period - effectively replacing income lost due to death or qualifying illness related inability to work.
Accident & Sickness based policies (to which Unemployment cover can sometimes be added), relate to the inability to work rather than an illness definition, but are usually short term in benefit (1 or 2 years).
Ther are a number of variations and options affecting both these approaches and, again, a formal advice process is strongly recommended to ensure appropriate cover.
The guidance contained within this website is subject to the UK regulatory regime and is primarily targeted at consumers based in the UK.
The Mortgage Lady is a trading style of Janet Hall, who is an appointed representative of TenetLime Ltd, which is authorised and regulated by the Financial Conduct Authority. TenetLime Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266
Proprietor: Janet Hall
115 The Street • Crowmarsh Gifford
Wallingford • Oxon • OX10 8EF
0330 999 1955
115 The Street • Crowmarsh Gifford
Wallingford • Oxon • OX10 8EF
0330 999 1955
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In doing so you are leaving the regulated site of Janet Hall - The Mortgage Lady and neither we nor TenetLime Ltd have any control or influence on the pages you are about to access, or to where any subsequent links may take you.
