Protection Advice
Parkview Mortgages offers bespoke financial protection advice for both business and private clients.
What Is a Protection Policy?
PROTECTING YOU AND YOUR FAMILY
Its important to ensure you have the peace of mind that you have considered your protection needs should the worst happen.
You cannot know what’s around the corner for your health, but you can make sure you and your loved ones are prepared financially.
How would your family survive if the worst happened and you died tomorrow?
It’s a tough question, but it’s a good question to ask when you are taking out a large debt against your home. Often, people leave it too late to ensure that their home and family would be protected against the risk of death, and can leave more than just emotional pain behind.
Mortgage Life Insurance could repay your mortgage in the event of death and/or a critical or serious illness.
Level Term Life Assurance is perhaps one of the most straightforward types of life assurance available. Level term means that if you need to make a claim, the sum assured will not vary during the term of the policy.
Family income benefit insurance is a type of term life insurance that will give regular financial support to the family of a policyholder if they die or are diagnosed with a terminal illness.
Where it’s different from standard life insurance is that it pays out a regular monthly income, rather than a lump sum.
Whole of life insurance is a life insurance policy that guarantees you will be covered throughout your life and your family will get the entire lump sum pay-out you intend to leave them when you die. This cover provides peace of mind that your loved ones will have financial security.
Replacing your income in the event of sickness or disability.
Providing a tax-free cash lump sum for you in the event of a critical or serious illness, under current legislation, tax year 2017/2018.
Accident, Sickness & Unemployment Insurance (ASU) is an insurance policy designed to protect mortgage payments, rent payments or loan payments if the event of unforeseen unemployment or after suffering an accident or sickness.
Offering individuals, families and employees access to private medical treatment.
Relevant life insurance is a type of policy that a business can take out to provide life insurance for an individual employee.
What you must tell your insurer before you take out protection insurance
You must give your insurer full details of you and your family’s medical history. If you leave anything out and then later try to make a claim, your insurer may refuse to pay out.
If you already have a pre-existing medical condition, look for an insurer that will be prepared to cover it, although you may have to pay more to take out the policy. A pre-existing medical condition is one you’ve had before.
You should also tell the insurers if you take part in any dangerous hobbies or have a lifestyle that includes smoking, heavy drinking or drug taking. If you don’t tell them about something which later affects your claim, they may refuse to pay out on the policy.
Its important to make sure you have a protection insurance policy which fits your individual needs. We work with insurers from across the market to find the most suitable insurance policies to match your insurance needs.
Contact Parkview Mortgages today for a fee free no obligation insurance review.