If you have dependants, such as school age children, a partner who relies on your income, or a family living in a house with a mortgage that you pay, life insurance can provide for them if you die. Such a loss can have a massive impact on your remaining family, and their quality of life. Surely the last thing you want is for them to be left with a financial burden?
Without Life insurance for your mortgage, you are putting your family’s home at risk. If you or your partner were to pass away or suffer a serious illness then the mortgage debt still needs to be paid. With the loss of a wage earner this can add unnecessary stress at an already difficult time.
Could your family manage to continue making the monthly mortgage payments if your income was lost? Clearing the mortgage in full will create financial breathing space when the family needs it most. The monthly mortgage payment is most peoples largest monthly commitment.
Receive a monthly benefit if you’re unable to work for any reason, physically or mentally.
According to the Department of Work and Pensions, 1 million workers are off sick for more than a month, each year!
Income Protection is designed to pay you a monthly non-taxable benefit in the event that you cannot work due to an accident, illness, sickness or injury. In fact, insurers will pay the claim if you are unable to do your own occupation for any reason physically or mentally – there isn’t a list of conditions.
This type of policy is very comprehensive, covering any health conditions ranging from cancer and heart disease, to mental illness and backache.
Most people think this cover’s about falling off a ladder. The biggest claim is for stress
Receive a cash lump sum to give financial breathing space if you suffer a critical illness.
According to Cancer Research UK, by 2020 1 in 2 people will be diagnosed with some form of cancer during their lifetime, but cancer is just one of a number of conditions that are covered. Legal & General for example, cover 42 different conditions (Oct 2017).
The good news is that with medical advances, you’re more likely to survive a critical illness, but also likely to need prolonged periods off work for treatment and recovery. Therefore, surviving an illness will often come at a cost.
Mortgage or rent payments, childcare costs, council tax, food and utility bills still need to be paid. Plus, there are likely to extra things to pay for like medication or adaptations to your home or vehicle, all at a time when you are likely to experience a long-term drop in income.
There’s enough stress dealing with a diagnosis, and what it means to your life. Don’t add in a financial headache too!
we can also review your existing arangements. It may be that we can save you money, arrange improved or enhanced cover for the same money, or you may read the following and feel you’d be better protected as a Finance North client…
At Finance North we want to give back as much as we can. We offer a claims service, not only to clients, but to non-clients. Why? – because we know that in life things happen, and if we can offer our help and expertise to someone in difficulty, then surely that’s what it’s all about. It’s not always about money, it’s about helping others.
We offer RedArc to all our Individual Protection and Business Protection clients who make a claim. RedArc provide Personal Nurse Advisors – highly experienced qualified nurses with a wide range of specialised and general medical knowledge, providing practical and emotional support. We will cover the cost - we look after our clients.
We will cover the cost - we look after our clients.
For any family protection policies, we donate £15 to Sands – the Stillbirth and Neonatal Deaths charity.
This is in recognition of the 15 children every day who die either before, during or shortly after birth.
Anyone fortunate enough to have children know how incredibly lucky they are. Others aren’t so lucky and as we operate in the market of protecting families, we wanted to support those families who’ve suffered unimaginable heartache or tragedy. It’s a small gesture, but we always write to our clients to thank them for helping us support Sands, and the amazing work they do.
Finance North now offers a Will, or a review of an existing Will, at no charge to Individual Protection clients.
We also guarantee that we will never charge you a fee for our advice or service, and will at all times show you the utmost respect, providing you with a transparent and professional service. We are happy to put all our recommendations in writing, because we stand behind our advice 100%.
Or Call 0161 771 2050
