You insure your car, why would you not insure your lifestyle?
You don’t think twice about taking out car insurance or building insurance because there is a legal requirement to have it; but what about your life, your lifestyle, your family. Why would you not protect that as well?
Most people when they are taking out a mortgage only think about getting that dream property or being able to save some money on their mortgage payments. Thinking about the future and what could happen if you were to die or be unable to work tend not to be high on the list of priorities.
But it should be.
Every 2 minutes someone in the UK is diagnosed with cancer[1], 1 in 600 people are living with MS[2], every 3 minutes someone in the UK is struck by a heart attack and Stroke causes around 40,000 deaths a year[3].
Having Life cover is a start as it will mean that there will be a lump sum paid out if you were to die, but what would happen if you survived? The survival rate for breast cancer in Leicestershire is 95.1[4]* which is great news, but what would happen during the treatment and recovery period. Would that income you have been using to pay your bills be affected? How would the family cope financially?
There are many different types of cover you can take out to protect you and your family should the worse happen. There are four main types of cover that are available Life cover, Critical Illness Cover (CIC), Income Protection and Family benefit.
Life Insurance – will provide a lump sum in the event of death.
Critical Illness Cover (CIC) – will provide a lump sum if you were diagnosed with a critical illness. This list will be dependent on the type of cover and the provider.
Income Protection – will replace a proportion of your salary if you are unable to work due to accident or sickness.
Family – designed to look after your family’s living costs and can provide a way of ensuring that your family can maintain the lifestyle you want for them whether you are around or not.
By working out what is important to you and what your concerns are and working with someone like me you can get a tailored Protection Portfolio, to support both you and your family at a time when you should not have to worry about your finances.
For more information and to set up your own Personal Protection Portfolio please contact clare@stoneygate-mortgages.co.uk
[1] www.cancerresearchuk.org updated 08/05/2017
[2] www.mstrust.org.uk updated 30/09/2016
[3] www.bhf.org.uk updated 03/07/2017
[4] www.cancerresearchuk.org updated 08/05/2017
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.
Stoneygate Mortgages Ltd is an appointed representative of First Complete Ltd.
[1] www.cancerresearchuk.org updated 08/05/2017
[2] www.mstrust.org.uk updated 30/09/2016
[3] www.bhf.org.uk updated 03/07/2017
[4] www.cancerresearchuk.org updated 08/05/2017
Content was accurate at the point of publication and is subject to change
