With your home being probably your most valuable asset and your mortgage your biggest financial commitment, it makes sense to consider the ways you can protect both your home and your ability to meet your monthly repayments, even if the worst happens.
At Mortgage Dimensions we have access to a range of protection insurances from leading insurance providers to meet most of your needs including:
- Life Assurance
- Critical Illness Cover
- Mortgage Payment Protection - Accident, Sickness & Unemployment Cover
- Buildings & Contents Insurance
We will assess your requirements and recommend suitable protection for you, your family and your home - and we can give you an illustration and a competitive quotation without obligation, and arrange any necessary cover if you want us to.
For a free personalised no-obligation quotation call Mortgage Dimensions on
0845 021 0212
Life assurance
Life assurance policies are designed to provide protection for your partner or family by paying a lump sum on death within a specific period.
Life assurance policies arranged in conjunction with a mortgage usually fall into the category of 'term assurance' policies, where the term of the policy is usually chosen to cover the length of your mortgage. If you die during this time a lump sum ('sum insured') will be paid out, enabling your dependents to pay off the mortgage. If you survive to the end of the term nothing is payable and your monthly premiums will cease. There is no 'surrender value' to this type of policy - meaning that if you stop paying the premiums at any point before the end of the policy term, the cover ceases and there is no refund of premiums paid.
Term assurance is the cheapest form of protection and it can offer high life assurance cover for a low premium. Cover can be arranged to cover just one person, or jointly for spouses/partners on the same policy.
There are different types of term assurance policy to suit different needs and circumstances. Term assurance policies are usually used to cover a mortgage or other loan as they pay any outstanding balance of the debt if you die early.
For a free personalised no-obligation quotation call Mortgage Dimensions on
0845 021 0212
Critical Illness Cover
If you became critically ill (for example if you had cancer, a heart attack or a stroke), the last thing you or your family would need is any financial worry - like the fear of losing your home because you can't pay your mortgage. Critical illness cover is designed to give you peace of mind in these circumstances by paying out a tax-free lump sum on diagnosis of one from a list of critical illnesses defined in the policy. This would enable you pay off your mortgage, or to make life more comfortable, for example by adapting your home or arranging private nursing or convalescence.
For a free personalised no-obligation quotation call Mortgage Dimensions on
0845 021 0212
Mortgage Payment Protection / Accident, Sickness & Unemployment (ASU) Cover
For most of us, our mortgages, Council Tax, and other expenses related to our homes represent our biggest monthly outgoings, and we rely on our incomes to meet these payments. This type of policy is designed to make sure that, if you are unable to work due to accident or illness, or are made redundant, your mortgage payments together with some other housing-related expenses will be met for a period of time - taking the additional worry off you until you are back on your feet again.
Payment Protection Insurance protects a borrower's ability to maintain repayments and helps them avoid getting into debt should they be unable to keep up their repayments due to accident, sickness or unemployment. In this way Mortgage payment protection policies can provide reassuring benefits, but it is important to be aware of the exclusions and limits to cover that apply. We will discuss these with you to ascertain whether this type of cover is right for your circumstances.
For a free personalised no-obligation quotation call Mortgage Dimensions on
0845 021 0212
Buildings & Contents Insurance
There are two types of home insurance policy:
- Buildings insurance provides cover for damage to the structure of your home together with its fixtures and fittings.
- Home contents insurance provides cover for damage to or loss of the possessions that you would normally take with you if you moved.
These insurance covers can be arranged separately, or together in one combined policy. Both buildings insurance and contents insurance cover you for a stated list of perils for example; fire, subsidence, theft, flood and storm, as well as providing important cover for your legal liabilities as a homeowner and occupier. Most polices also offer optional cover add-ons that allow you to tailor your policy to suit your individual needs. For example, you may want extended accidental damage cover, or cover designed specifically for bicycles, golfing equipment and activities, or lots of computer equipment.
For a free personalised no-obligation quotation call Mortgage Dimensions on
0845 021 0212
