Your mortgage will usually be your most expensive monthly commitment, so to consider how to protect your payment or debt should the worst happen is of paramount importance.
Life insurance, critical illness insurance and income protection are all things that can be considered when you have a family that is reliant on you.
We will ensure you have the peace of mind that you have considered your protection needs should the worst happen.
What type of Insurance do we Offer?
Life Insurance - Pays a cash sum to your family (or whoever you decide) if you die. One of the most common types of life insurance is level term, where you are protected for a set period of time for a fixed amount of cover. You also have the option of decreasing term, where you are protected for a set period of time but the amount of cover decreases every month until it reaches zero at the end of the term.
Critical illness cover - Will pay the policy holder a sum of money on diagnosis of one of a large number of specified illnesses. The illnesses covered vary, but generally include major illnesses such as cancer, heart attack and stroke. Critical illness cover is often combined with life insurance for extra peace of mind
Income protection - Will normally pay a monthly income should you be unable to work due to accident or illness. It will pay you a tax free monthly benefit until you are able to return to work, you retire or until the end of the policy term you selected - which ever comes first.
Why do I need Insurance?
You may need insurance as you want to ensure that if the worst was to happen your loved ones would have financial stability.
People generally review their insurance needs when changes happen in their circumstances such as; having a baby, getting married, getting divorced, increasing the amount of borrowing outstanding, changing the term of your mortgage or changing jobs.
At Lyons Mortgage & Insurance Services we will help advise you on your protection needs.