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  Protection and Investments

Protection Options

When taking on a mortgage, protecting yourself or your family it is important to have the right level of protection. As with all things there is a balance between what you want and what you can afford. The more options that you would like then the higher will be the overall cost. The first thing that you should consider is how much you can afford to pay both now and over the whole term of your mortgage. You then have to decide which area of protection is the greatest priority.

1. Life Assurance - pays a lump sum if you die.
2. Critical illness - pays a lump sum if you are diagnosed as having one of a number of specified illnesses provided you survive.
3. Permanent Health Insurance - pays you an income if you are unable to work through illness or injury.
4. Redundancy Protection - pays you a set amount of income if you are made redundant.
5. Waiver of Premium - pays your premiums in the event of you being unable to work through illness or injury.

As I am sure you are aware if you stop paying the premiums your cover will cease.

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