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Life Insurance
Family Income Benefit
Critical Illness Cover
Income Protection
Serious Illness Cover
Business Protection
Private Medical Insurance
Protecting you and your family in the event of death and/or illness
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Protection is deep in the heart of every advisor here at Mortgages4Plymouth. As well as helping you with your mortgage requirements, we have a duty of care to give you advice to protect your home, your family and your income in the event of accident, sickness, death or critical/serious illness. We are passionate about protection and will not only help you to understand why this is important, but will also explain your options and how protection products can be used to safeguard your family and home in the event of unforeseen circumstances.
Year on year we are personally seeing more people suffer with cancer and other illnesses and are unfortunately having to make a claim on their policy. But that is what your protection is there for- to ensure that you and your loved ones are not financially disadvantaged should something unexpected happen. In addition to arranging your protection, we will talk to you about whether it is suitable to place your life insurance into ‘trust’. In doing so, it can ensure that the money is paid to the right people straightaway so that there is no financial vulnerability for your loved ones. We will help you to put the policy into trust, if it is appropriate to do so.
Please note for these insurance products terms and conditions apply. This information is a summary only. You will receive a full policy document upon application. This policy will set out the terms, conditions and limitations of cover provided under the plan. We do not charge a fee for our protection advice. We will receive a commission from the provider which will be pointed out to you on your illustration.
Life Insurance
Protects the policyholder’s family and home in the event of death, reassuring the policyholder that their death will not result in financial hardship for their family. The life insurance policy pays a lump sum of money (the ‘benefits’) in the event of the policyholder’s death, in exchange for which the policyholder pays an agreed regular or lump sum amount (premium).
Family Income Benefit
Protects the policyholder’s family by ensuring that they have a regular, acceptable level of income in the event of death or diagnosis of a specified critical/serious illness. Family Income Protection Benefit will pay a regular monthly income as a result of a claimable event.
Critical Illness Cover
Provides protection to the policyholder, in the form of a tax-free lump sum payment under current tax year 2023/2024 legislation on diagnosis of a listed critical illness, reducing the financial burden at that difficult time. The benefits are paid on diagnosis of a listed critical illness, usually after one month of surviving the illness. Policies cover a number of core illnesses within their policy, namely: cancer, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. There are wide range of critical illness conditions now covered by Critical Illness Policies, the range of which is dependent on the insurer and the terms and conditions of its Critical Illness product.
Income Protection
Protects the policyholder, by ensuring that they continue to receive a regular income in the event that they are unable to work due to illness or accident. The benefits of an Income Protection policy are paid to the policyholder as a monthly tax-free benefit under current tax year 2023/2024 legislation in the event that they are unable to work due to illness or accident. We have access to both long term policies and ones with short payment terms, dependent on your circumstances and budget.
Serious Illness Cover
We are able to offer Serious Illness cover from Vitality. This cover provides protection to the policyholder, in the form of a tax-free lump sum payment under current tax year 2023/2024 legislation on diagnosis of a listed serious illness, alleviating the financial strain at that difficult time. The benefits of a Serious Illness Cover policy are paid on diagnosis of a listed serious illness. In some instances a partial payment may be made and the amount payable ranges from 10% to 100% depending upon the severity of the condition. However, some conditions at a lower level of severity may qualify for an increased payment if, or when, their severity increases
Business Protection
One of the most important assets in a business is the people that own and work within it. As a business owner, if one of your key people or shareholders in the business were to fall critically ill or die you could be left with a void that would impact the business financially. Tricia can help you to keep your business running by planning in advance for these unforeseen events. She is a specialist Business Protection advisor and would be happy to meet to discuss how she can help you look after your business.
Private Medical Insurance
This insurance is designed to pay some or all of the costs of private medical treatment. You may have the option to also cover your spouse/partner and your children. You may not wish to wait for treatment on the NHS and can use your private healthcare plan to see if you can obtain the treatment that you need at a private hospital or facility. There are many different options available such as outpatient consultations, diagnostic tests, surgery, dental care, cancer cover, alterative and complimentary therapies to name but a few.
We cannot advise on private medical insurance, this is for information only.
