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Insurance & Protection
When taking out a mortgage, its essential to consider the different types of insurance that can protect you and your investment. At Your Best Interests, we recommend several key types of insurance, including life insurance, serious illness cover and income protection. These policies can provide financial security for you and your family, ensuring that you are prepared for any eventuality. Let us help you find the right insurance solutions to protect you best interests & secure your financial future.
1
Life Insurance
Life insurance is a type of insurance policy that provides financial protection for your loved ones in the tragic event of your death. It's an important way to ensure that your family is taken care of and has financial security, even after you're gone.
There are several reasons why life insurance is important. Firstly, it can help cover the costs of funeral expenses and other end-of-life expenses, which can be a significant financial burden for your loved ones. Additionally, life insurance can help replace lost income and provide for your family's ongoing financial needs, such as mortgage payments or children's education expenses.
Furthermore, life insurance can provide peace of mind, knowing that your loved ones will be financially secure and taken care of, even if you're not there to provide for them.
2
Serious illness Cover
Serious illness cover is a type of insurance that provides financial security in the event that you are diagnosed with a critical illness. It can offer you peace of mind, knowing that you will be able to pay for the treatment, rehabilitation and recovery costs that often arise from a serious medical condition.
Having serious illness cover in place means that you won't have to worry about the financial implications of taking time off work to recover, as it can provide a source of income while you're unable to work. Additionally, it can also help with day-to-day expenses such as rent or mortgage payments, and other household bills.
3
Income Protection Cover
Income protection cover is an insurance policy that provides financial support if you are unable to work due to illness or injury. It offers a regular income to cover your living expenses and provides long-term protection until you are able to return to work or reach retirement age. Income protection covers a wide range of illnesses and injuries, including back pain, stress, depression, and cancer, depending on the policy terms and conditions. The payments you receive from an income protection policy are usually tax-free, making it a cost-effective way to protect your income. Additionally, income protection cover comes with flexible policy options to suit your individual needs.
4
Building Insurance
Building insurance, also known as home insurance, is a type of insurance policy that provides financial protection for the physical structure of your home, including the roof, walls, floors, and other permanent fixtures. One of the main benefits of building insurance is that it provides financial protection against damage caused by a range of events, such as fire, flood, and storm damage. This can give you peace of mind that your investment is protected against unforeseen circumstances.
In the UK, building insurance is a mandatory requirement when mortgaging a property. Lenders require borrowers to have a building insurance policy in place to protect their investment in the event of damage to the property. This means that having building insurance is not only beneficial for you as a homeowner, but it is also a requirement when taking out a mortgage.
How can Your Best interests help?
At Your Best Interests, we are committed to helping you find the right insurance policies to meet your individual needs. We work with a variety of reputable insurance providers to offer you a range of options at competitive rates. Our experienced advisors can help you understand the benefits of each policy and help you choose the ones that best suit your individual needs.
We take pride in offering a personalized service, taking the time to understand your situation and requirements to provide you with the right advice and support. We believe in transparency and will explain the policy details in a way that's easy to understand.
Overall, having life cover, serious illness cover, income protection & building insurance cover can provide financial security and peace of mind for you and your loved ones. At Your Best Interests, we're here to help you find the right policies to provide this protection.