South Wales Mortgage & Protection Specialist
Protection advice you can trust. Helping to protect you and your family.
Many of us insure our homes and contents and even our pets but forget about the things that are really important – like our lifestyles and our families. Insurance needs change over our lifetime, for example, the needs of a single person with no dependents are likely to be quite different to those of a married couple with a young family.
Professional, uncomplicated advice from SMK Mortgages can help to identify any insurance shortfalls and where you are at risk. We can recommend an affordable solution and arrange suitable policies to bridge any gaps, ensuring that you have the right cover in place at the right time.
Life Insurance / term assurance
Life Insurance / term assurance – pays out a cash lump sum or a monthly income if you pass away or are diagnosed with a terminal illness during the policy term. This can help to ensure that your family is able to remain in the family home, or has enough income when you are no longer there to be able to provide for them.
These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Critical Illness Cover
Critical Illness Cover – pays a cash lump sum or a monthly income on diagnosis of a specific potentially life-threatening illness. Examples include some forms of cancer, heart attack or stroke. The funds can be used for whatever you choose, from making necessary modifications to your home to helping to pay the bills. Having that back-up fund means you have one less thing to worry about when you are going through the rigours that a serious illness can bring.
Critical illness plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.
Income Protection
Income Protection pays out a tax-free monthly amount should you be unable to work due to accident, sickness or disability. State benefits are rarely enough to enable most individuals or families to pay all of their bills and living costs when one of the income-earners is unable to work. An income protection policy provides a monthly income to cover some of your wages whilst you are unable to work, meaning that you can focus on your recovery instead of worrying how you are going to provide for yourself and your family.
These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
SMK Mortgages provides professional advice on personal insurances, offering products from a range of insurers which is based on a fair analysis of the relevant market. We can also arrange to write your life assurance policies in trust to ensure that your cover pays out to your intended beneficiaries as quickly as possible.