OUR PROTECTION SERVICES:
BESPOKE COVER
All of our protection services are available in three different levels of cover, to suit your requirements. At GW Mortgages we ensure you get the right cover for your needs, so you do not need to worry.
LIFE
INSURANCE
No one wants to think about the inevitable. Life insurance can offer reassurance and comfort for you and your loved ones during extremely hard times.
Mortgage Life insurance policies have one clear objective – to help pay off an outstanding mortgage in the event of death. This will give your family one less thing to worry about – a secure home at a difficult time. With this type of policy, the amount insured decreases as you pay off your mortgage balance. Typically, a decreasing term policy such as this is cheaper than a level term policy, as the amount being insured declines over time, in line with the outstanding mortgage.
Life Insurance can also be set up as standard Term Life Insurance, meaning it is not just designed to pay of a mortgage. Many people decide to set this up to cover their family’s lifestyle and means instead of just the mortgage.
LIFE
INSURANCE
No one wants to think about the inevitable. Life insurance can offer reassurance and comfort for you and your loved ones during extremely hard times.
Mortgage Life insurance policies have one clear objective – to help pay off an outstanding mortgage in the event of death. This will give your family one less thing to worry about – a secure home at a difficult time. With this type of policy, the amount insured decreases as you pay off your mortgage balance. Typically, a decreasing term policy such as this is cheaper than a level term policy, as the amount being insured declines over time, in line with the outstanding mortgage.
Life Insurance can also be set up as standard Term Life Insurance, meaning it is not just designed to pay of a mortgage. Many people decide to set this up to cover their family’s lifestyle and means instead of just the mortgage.
CRITICAL
ILLNESS COVER
Critical Illness Cover is a policy that can cover you in the unfortunate event of becoming seriously or terminally ill, enabling you from working. These policies can cover a range of different illnesses and diagnoses, including heart attack, cancer, multiple sclerosis, Alzheimer, stroke etc. Critical Illness Cover is typically paid out as a lump sum payment if you were to become critically ill, however this can be arranged in different ways too.
A popular way of setting up Critical Illness Cover, is by insuring yourself for Life And Critical Illness, under one policy. This can be a more cost effective and reliable way of setting up the cover.
INCOME
PROTECTION
In comparison to Life Insurance and Critical Illness Cover, Income Protection Insurance pays you a regular income, generally monthly, in the event of being unable to work because of sickness or disability. This can continue until you return to work or retire, depending on how you choose to set it up.
Depending on what the client is most comfortable with, many people will set up this cover with a deferral period, from the moment you are sick to the day you are first paid out. Many people will also choose to be paid for a year, two years, or until retirement. This is all down to the client’s needs and budget for premiums. Protection insurance is known as permanent health insurance.
INCOME
PROTECTION
In comparison to Life Insurance and Critical Illness Cover, Income Protection Insurance pays you a regular income, generally monthly, in the event of being unable to work because of sickness or disability. This can continue until you return to work or retire, depending on how you choose to set it up.
Depending on what the client is most comfortable with, many people will set up this cover with a deferral period, from the moment you are sick to the day you are first paid out. Many people will also choose to be paid for a year, two years, or until retirement. This is all down to the client’s needs and budget for premiums. Protection insurance is known as permanent health insurance.
BUILDINGS & CONTENTS
INSURANCE
When buying with a mortgage, it is a lenders requirement that you cover the property with buildings insurance. Buildings insurance is an insurance policy that covers the financial cost of repairing damage to the physical structure of a property in the event of damage or theft. This includes the roof, floors and walls, as well as any fitted or permanent fixtures (i.e. a fitted kitchen). Many people will cover themselves for Buildings & Contents insurance, under one policy.
Home Contents Insurance covers the cost of replacing your belongings in your home if they are damaged, destroyed or stolen. Generally, your ‘contents’ are the items that you would take with if you moved home. These include but are not limited to: Furniture: beds, sofas, wardrobes and dining tables and chairs. Many people choose to cover more expensive items such as televisions, watches, art too.
BUILDINGS & CONTENTS
INSURANCE
When buying with a mortgage, it is a lenders requirement that you cover the property with buildings insurance. Buildings insurance is an insurance policy that covers the financial cost of repairing damage to the physical structure of a property in the event of damage or theft. This includes the roof, floors and walls, as well as any fitted or permanent fixtures (i.e. a fitted kitchen). Many people will cover themselves for Buildings & Contents insurance, under one policy.
Home Contents Insurance covers the cost of replacing your belongings in your home if they are damaged, destroyed or stolen. Generally, your ‘contents’ are the items that you would take with if you moved home. These include but are not limited to: Furniture: beds, sofas, wardrobes and dining tables and chairs. Many people choose to cover more expensive items such as televisions, watches, art too.
