Written by: Andy Walton - Proposition Director - Protection
Life is full of uncertainties and it’s not always easy to predict what’s around the corner. There are certain things we can anticipate, such as potential health problems because of genetics or family histories, but none of us know when our time is up. Nor do we know if our job is truly secure or if we’re going to get critically ill.
The best thing to do when faced with uncertainty is to be as prepared as possible. If you can take steps now to protect yourself and your loved ones from unforeseen challenges, then why not get started?
It’s vital to protect not only your property investment, but safeguard your financial stability.
So, welcome to the world of protection! Here’s how to get started.
Understanding the different types of protection
Protection is not only a shield against life’s uncertainties, it provides you with financial stability when you need it most. It encompasses several key areas, all designed to protect you and your property. This is what we offer:
Life insurance
We may not be able to predict what lies ahead, but we can plan for it.
Life insurance means your loved ones are financially secure should the worst happen.
It provides a lump sum to your beneficiaries, helping them manage expenses and maintain their quality of life.
Income protection
What would you do if you lost your income, even temporarily? Income protection safeguards your income stream in case you’re unable to work due to illness or injury.
It ensures that, even during challenging times, you can still meet your financial commitments and maintain your standard of living.
Critical illness cover
A critical illness diagnosis can significantly impact your life and finances. Critical illness cover provides a lump sum payment if you’re diagnosed with one of your policies specified critical illnesses. This payment can cover medical expenses, allow you to make lifestyle adjustments, or give you the opportunity to take time off work to focus on your recovery.
Mortgage payment protection
Your home is your haven, and your mortgage payments are the cornerstone of this safe space. Missing payments could mean your home is repossessed, but if you’re unable to meet your payments due to illness, you could fall back on mortgage payment protection.
These types of policies ensure that your mortgage payments are covered in the face of unexpected setbacks, such as illness, injury, or redundancy.
Buildings and contents insurance
Your home is a valuable asset, and buildings and contents insurance safeguards it against potential risks.
You must have this type of insurance when you get a mortgage, but we can’t understate its value even outside of that.
From unforeseen disasters like fires and floods, to structural damages, buildings insurance ensures your home’s physical structure remains cared for.
When it comes to the contents in your home, they will likely hold sentimental value.
Even if they don’t, they certainly hold monetary value, and replacing everything would be costly.
Contents insurance shields your belongings, such as furniture to electronics, and even clothing and personal keepsakes, against theft, damage, or loss.
Your path to protection
Now that you’re aware of the different kinds of protection we offer, and the benefit they’d bring to your life, how do you go about choosing the right policies for your needs? We’ve put together a few handy steps you can take:
Identify your needs
Take a moment to assess your current life situation. Do you have dependents that rely on your income? Are you a homeowner? Would you be able to maintain your standard of living without a regular income? Understanding your core needs will help you decide which protection options are most relevant to you.
Explore your coverage options
Be sure to research the different protection offerings provided to you, as each could serve a unique purpose. You may need one but not the other, and you have the luxury of choice for most things.
Your dedicated protection adviser can help you determine which protection insurance options are most relevant to you.
Explore premiums and benefits
Take the time to understand the premium structure and associated benefits of your chosen protection insurance policies. Your adviser will explain how premiums are calculated and how each policy benefits you.
Remember, some policies may include things that others don’t so we always recommend giving everything a thorough read.
Why choose us for peace of mind?
With your protection insurance in place, you can rest easy, knowing that you've taken proactive steps to secure your financial future and protect your loved ones.
As a trusted mortgage intermediary, we understand the importance of holistic financial planning. We're committed to helping you navigate the world of protection, ensuring that your dreams of homeownership are built on a solid foundation of security.
Our experienced advisers are committed to helping you choose the right protection options for your unique needs and aspirations and we’re always on hand to help you review your circumstances. Have you had a change of circumstances? We’ll help you modify your protection plans!
The importance of protection
Protection insurance serves as a bridge between life's uncertainties and a secure future for both yourself and your family.
With our help, you can confidently embark on your journey to financial security. Every step you take today contributes to a brighter and more resilient tomorrow.
Are you ready to explore your options? Get in touch with us today.
Check your financial resilience with our risk assessment tool
See how well you're protected when life throws the unexpected at you.
Frequently asked questions
Financial risk is how likely you are to experience financial setbacks due to unforeseen factors, such as death, critical illness, disability, and job loss.
Financial risk can be caused by a variety of circumstances. Some of these factors are in your control, like your level of spending and lack of insurance, whereas others are external, such as the economic climate and health issues.
By taking out protection policies, you can minimise the impact of these financial risks. This can be income protection or other forms of insurance, and also by having a healthy emergency fund, in case you face any financial risks that aren’t covered by your insurance.
Income protection offers financial support if you’re unable to work due to illness or injury. It replaces part of your income and will continue to pay out regular, tax-free instalments until you’re able to return to work.
Financial stability means you have enough income to cover your expenses and have a buffer for emergencies (protection policies and savings). Our Financial Risk Assessment can help you assess your current situation and inform you if any improvements could be made.
Unpredictable events can hurt your finances. Take a free Financial Risk Assessment to identify your vulnerabilities and explore protection options that plug the gaps, giving you peace of mind.
Important information
For insurance business we offer products from a choice of insurers.
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