Insurance & Protection

No-one knows what is around the corner so you should protect what is important to you, just in case the worst happens 

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Why do you need life Insurance?

Our MD Daniel Condren talks about Insurance & Protection. Watch below

It is easy to put off arranging protection policies but we want to help you see the importance of protecting you and your family and give you the one thing money can’t buy – peace of mind. One Mortgages & Protection Limited offers expert and unbiased advice we have panel of providers that we can recommend.

We will help you understand exactly what each product offers so you can make a sensible and informed choice to protect both your future and that of your family. 

We can help arrange the following services:

Life insurance 

Life insurance, also known as life cover or life assurance is a way to help protect your loved ones financially if you were to die during the length of your policy.

Please remember that life insurance is not a savings or investment product and has no cash value unless a valid claim is made.

You choose the amount of cover you need and how long you need it for and you can pay your premiums monthly or annually. In return, your family has the reassurance of knowing that if you died while covered by the policy they could receive a cash sum pay out if a valid claim is made.

They could use this to help with household bills, child-care costs or covering mortgage payments.

  • Life insurance is designed to pay out your chosen cash sum if you die during the length of the policy. It could be used to help protect the family’s lifestyle and everyday living expenses or help pay towards an interest only mortgage.
  • Mortgage decreasing insurance is designed to help protect a repayment mortgage, so the amount of cover reduces roughly in line with the way a repayment mortgage decreases.  Meaning your loved ones could continue to live in the family home without worrying about the mortgage.
  • You may want to check that the length of the policy is long enough to cover the duration of your mortgage term.
  • If you have Decreasing Life insurance you must also check that the interest rate applied to your mortgage does not become higher than the interest rate applied to your policy.

Critical Illness can be added at an additional cost when taking out life insurance. It could pay out your chosen amount of cover if you’re diagnosed with a specified illness during the length of your policy

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Critical illness

Critical illness insurance will pay out if you get one of the specific medical conditions or injuries listed in the policy. But be aware that not all conditions are covered and policy will also state how serious the condition must be.

Every year 1m workers in the UK unexpectedly find themselves unable to work because of injury or illness, according to the Association of British Insurers.

Examples of critical illnesses that might be covered include:

  • heart attack
  • stroke
  • certain types and stages of cancer
  • conditions such as multiple sclerosis

Most policies will also consider permanent disabilities as a result of injury or illness. It only pays out once and then the policy ends. Some policies will make a smaller payment for less severe conditions, or if one of your children has one of the specified conditions.

As these types of policy vary it is best to have a detailed discussion with us so we can determine which provider best suits your needs.

Income protection

Income protection insurance is a long-term insurance policy to help you if you can’t work because you’re ill or injured.

  • It replaces part of your income if you can’t work because you become ill or disabled.
  • It pays out until you can start working again, or until you retire, die or the end of the policy term – whichever is sooner.
  • There’s a waiting period before the payments start. You generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly payments.
  • It covers most illnesses that leave you unable to work, either in the short or long term (depending on the type of policy and its definition of incapacity).
  • You can claim as many times as you need to, while the policy lasts.

According to the Association of British Insurers one million workers a year find themselves unable to work due to a serious illness or injury.

  • It doesn’t matter whether or not you have children or other dependents – if illness would mean you couldn’t pay the bills, you should consider income protection insurance.
  • You’re most likely to need it if you’re self-employed or employed and you don’t have sick pay to fall back on.
  • Check what your employer will provide for you if you’re off sick.

Family protection

Family Protection is a type of life insurance that allows you to secure your family’s financial future in the event of your death. It can be a level term insurance which means it pays out to your dependants if you die within a fixed term. The premium stays the same (as does the pay-out) whether you die on the first or the last day of the policy.

To find out more call us today on 0113 208 3308 or request a no obligation quote using our online form.  We offer friendly, expert assistance over the phone and a member of our fully trained team will call you back to discuss your needs more fully.

Accident, sickness and unemployment cover

An Accident Sickness and unemployment is designed to provide you with financial protection in the event you are unable to continue working because:

  • You have lost your job through no fault of your own;
  • You become ill and are too sick to work;
  • You are injured and unable to work.

You will typically receive a proportion of your income for up to 12 months which can then be used to help cover your monthly outgoings.

Building insurance

Buildings insurance will provide you with the money to cover the costs of repairing or rebuilding your home should it be damaged or destroyed.

If you are a home owner then buildings insurance will be crucial, but if you are renting a property then buildings insurance is the responsibility of your landlord. However, as a tenant, you may wish to consider taking out contents insurance.

Buildings insurance will cover the structure of your home – but can also include sheds, garages and other external features.

These features aren’t always included as standard, so make sure you check with your insurer in case you need extra cover.

A standard policy will usually cover you for the following:

  • Floods
  • Subsidence
  • Theft/vandalism
  • Fire
  • Lightning damage
  • Water damage

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Contents insurance

Contents insurance will cover the cost of the possessions in your home should they be damaged or destroyed. A contents insurance policy will generally offer protection against the same perils as buildings insurance.

Business insurance

Business protection is essentially a life insurance policy for the important people in your business. That may include yourself as a Director or partner, or it may be one or more of your essential members of staff (key person).

We can offer advice and the relevant life and/or critical illness policies to cover all aspects of business protection:

  • Director Share Protection
  • Partnership Protection
  • Keyman Insurance
  • Shareholder Protection

Whole of Life

As the name suggests, whole-of-life policies are ongoing policies that pay out when you die, whenever that is. Because it’s guaranteed that you’ll die at some point (and therefore that the policy will have to pay out), these policies are more expensive than term assurance policies, which only pay out if you die within a certain term.

Private Medical Insurance

Health insurance is designed to ensure that if you need medical treatment in future, you won’t need to worry about NHS waiting lists or paying for the cost of the treatment. It’s designed to get you diagnosed and treated quickly. If you would like more information, please contact us and we would be happy to help.

Landlord insurance

Landlord insurance is an insurance policy that covers a property owner from financial losses connected with rental properties.

Why One Mortgages, Protection and Estates?

Call us now on 0113 208 3308

to find out more or arrange a consultation.

One Financial Group offers impartial and unbiased advice to customers UK wide, no customer is too far away to help.