Local Plymouth Insurance Advisers for Local People
Things happen when you least expect them to....
Thinking about the consequences should anything happen to the main breadwinner isn’t something any of us want to contemplate. However it is important when arranging your mortgage to take the time to protect you and your family should the unthinkable happen.
Put simply protection products are policies that are arranged to provide you and your family with either a lump sum or a regular income should you become seriously ill, lose your job, or in the event of your death.
Protecting your Mortgage
Your mortgage is likely to be one of the biggest commitments you will make and we would strongly recommend that you consider fully protecting your mortgage against death, critical illness, or loss of income through accident, sickness or unemployment where your budget permits, and that you also adequately insure the buildings and contents.
Local Plymouth Insurance Advisers for Local People
Protecting your Mortgage & Home
Life Insurance
Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose. Life insurance can be used to cover a mortgage, other loans or to ensure that your family is protected from the effects of having to repay a debt.
Critical Illness Cover
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work.
Income Protection
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
Home Insurance
There are two types of household insurance – buildings and contents. They are separate entities but can normally be bought together, usually with a discount.
Buildings Insurance
Having buildings insurance is mandatory when taking a mortgage, regardless of whether you’re buying a property or remortgaging. It is a condition of every mortgage offer that buildings insurance is in place. Aside from the mandatory aspect, insuring your property and contents is important. Imagine having to rebuild your property or replace all of your contents following a flood or fire.
Contents Insurance
Contents Insurance covers the loss of or damage to the contents of your home. This includes your furniture, electrical goods and other items within your home. Some policies cover you for items you take outside, for example cameras, jewellery, briefcases, iphones, laptops and cash. Different policies offer different levels of cover but generally you’ll be covered against theft and fire, and have the option to insure against damage you may cause by accident.
For more information on which protection policy best suits your needs call our expert team today.
Call a Plymouth Insurance Adviser
01752 318353
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Some Kind Words From our Customers
Clive made our first time purchase so easy. We told him the basics and he worked his magic, making it super easy for us! Clive gave us plenty of options, along with recommendations. Any questions we had, he was able to answer. We received such a professional and high standard service, I would recommend anyone who is looking for a mortgage advisor, to use Clive. Thank you for everything, we’ll be forever grateful!
We were first time buyers and Clive made the whole process simple and hassle-free, going above and beyond. He was always proactive and was fantastic at communicating at every stage. Highly recommended.
A very professional service. I was a first time buyer with not alot of knowledge and Clive made the whole experience easy and explained every step of the way. He was always in communication with both myself and other parties and always there to answer any questions. would highly recommend their services.
After approaching Clan Financial Services with the plan to finish the last 5 years of my mortgage with a fixed plan. I found them to be very professional and friendly. I was offered a great deal which would save me a good bit of money every month. Once I agreed, Clan did all the work and transferred over seamlessly. I started to make savings almost immediately. I whole heartedly recommended Clan Financial Services to everyone.
Fully recommend clan financial services, they have been thorough and diligent in researching financial products to best suit our needs. Sound expert knowledge of the mortgage sector backed up with years of experience in the field. Clan financial services are very effective in breaking down complex financial jargon into easily understandable terms. Which is why we have chosen to remain with them for over 5 years now.
Clive has incredible knowledge of the mortgage products Available and made our house buying experience a pleasure, he managed to save us a lot of money choosing the most suitable lender for us! Highly recommended couldn’t do anymore to make us the happiest clients!
I have used Clan Financial Services several times to remortgage Buy to Let as well as my own home, I have also taken out a Life Insurance Policy through Clan. Clive is very knowledgeable and has given clear & professional advice throughout the process! I would highly recommend using Clan Financial Services
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Clan Financial Services is authorised and regulated by the Financial Conduct Authority. FCA register number 484655.
The information given in this website does not contain all of the details you need to choose a mortgage. The FCA does not regulate some forms of buy to let mortgages.