Life Cover
This helps ensure your dependents have enough money to repay the mortgage in full if you were to die. There are various different types of life cover to meet different circumstances and budgets. Cover can for example be arranged on a 'level' or 'decreasing' basis.

Life Assurance policies often also include 'terminal illness' cover. This means that the policy would pay out earlier if your are diagnosed with a terminal illness.

Critical Illness
If you suffer one of the illnesses covered by the policy, the benefit paid out could provide a lump sum of money to repay the loan, or replace the income you may lose. In the event of a critical illness, you may also have additional expenses such as long term care; your partner may also have to give up work to look after you.

The illnesses that are covered include; Multiple sclerosis, cancer, stroke, heart attack, paralysis, severe burns, loss of sight. Many more are covered and we will be happy to advise you about these.

It is important for you to carefully consider this type of cover given that the average age of a claimant is currently in the early 40’s and 1 in 3 people are expected to suffer a critical illness within their lifetime.

Cover can be arranged whether or not you have a mortgage, for instance you may want to take some cover out purely to provide your family with some protection should the worst happen to you.

Please call us so that we can discuss this with you further