Simmonds Mortgages

Mortgage Brokers covering Berkshire and beyond

Call: 01344 225 149 or 07979 690 056

How To Get The Protection You Need

By |

The Coronavirus pandemic has highlighted just how financially vulnerable many of us are, as well as how important it is to have the right financial protection in place in the event of a crisis.

If this year has taught us anything, it's that the unexpected can happen and being prepared is key to ensuring our loved ones are financially secure.

The importance of life insurance

Data shows that 60% of Brits don't have life insurance, despite a large majority having dependants or a mortgage, or both. Buying life insurance can be easy to put off - after all, no one liked to think about the worst happening to them. However, if you've realised your family would be financially vulnerable if something happened to you, buying life insurance for as little as £5 a month can be a small price to pay for safeguarding your family's future.

Many life insurance policies will cover you for Coronavirus, providing you answer the application questions honestly and don't hide any pre-existing conditions. Most insurers will now ask you if you've recently been abroad and whether you've been in contact with someone with COVID-19, tested positive for the virus or had any symptoms. If any apply to you, insurers may postpone accepting your application until they are satisfied you are not at increased risk.

Adding critical illness cover

Many life insurance policies also allow you to add critical illness cover which pays out a lump sum if you are diagnosed with a condition or illness listed on your policy. Coronavirus is not one of the illnesses listed in any critical illness cover so you would not be covered if you tested positive, but this doesn't mean critical illness cover is not worth having. If you contracted the virus and it led to severe complications such as a heart attack or stroke, you may still be able to make a claim.

Don't forget income protection

It's easy to forget about income protection or believe you don't need it, but as the pandemic has shown, loss of income can become a very real problem, income protection can help replace your salary if you cannot work due to an accident, illness or redundancy.

Having this type of cover can prove valuable if you have bills to pay, a mortgage and dependants to care for. However, it's essential to check exactly what you're covered policies also now have Coronavirus-related exclusions.

Seek advice

If you're not sure which type of cover is most suitable for you and your circumstances, please get in touch and we can help ensure you and your family have the right financial protection in place.

 

As with all insurance policies, conditions and exclusions will apply

 

Let us help!

We can also help your home purchase get underway by helping you to find the most suitable mortgage for your needs and circumstances and give you our expert advice on how to protect your property, income and family.

If you would like more information or help with your mortgage and protection concerns please call us on 01344 225 149 or 07979 690 056. Alternatively please send us an email at info@simmondsmortgage.co.uk

 

simmonds_mortgage_service_final_logo.png

 

Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.

What our Customers Say...

Your home may be repossessed if you do not keep up repayments on your mortgage.

Simmonds Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Registered Office: Simmonds Mortgage Services Ltd, Lexham House, Forest Road, Binfield, Berkshire, RG42 4HP. Registered Company Number: 1152 8784 Registered in England & Wales.

There may be a fee for arranging a Mortgage and the precise amount will depend on your circumstances. This will typically be £399.00 paid once the mortgage offer has been confirmed.

There may be a fee for arranging an Equity Release or Lifetime Mortgage and the precise amount will depend on your circumstances. This will typically be £799.00 and is due on completion of the mortgage.

To view our Privacy Statement, please click here.

To view our Cookie Policy, please click here.

To view our Data Protection Policy, please click here.

© . All rights reserved.