Mortgage protection

Once you’ve had your mortgage approved, the next step is to think about protecting your home and family. The mortgage isn’t usually the only payment we need to make each month. What about covering everyday bills and expenses? Utility bills, food shopping, travel costs, childcare… the list could go on.

It is not a pleasant thought, but…

• How would one partner cope financially with the death or critical illness of the other?
• Could you maintain your current lifestyle?
• Could you continue to raise your family?

Legal & General’s protection products can help provide financial peace of mind when it’s needed most. They’re designed to provide you with a cash sum or monthly benefit. They are payable, for example, if you die or are diagnosed with a terminal or specified critical illness during the policy term and are eligible to claim.

For insurance business we arrange policies exclusively from Legal & General.

Please note that none of the protection products have any cash in value at any time.

Depending on the products chosen, they could help you to:

• Maintain your standard of living
• Pay your monthly bills and meet your daily living costs
• Pay off your debts
• Afford to stay in your family home rather than have to downsize 

How much will it cost me?
Premiums are based on:

• Your age
• Gender
• Other factors such as health and whether you smoke.

Usually, the younger you are, the less you’ll pay.

We all want security for our future, a chance to maintain the financial stability we have worked so hard for. That’s why it’s so important to look ahead and plan for such eventualities. 

Who shall I cover?
It’s also important to remember that it’s not just the main wage earner that you may need to consider when working out the right cover. What about the work a full time houseperson does – how would you replace them if they fell ill?

In 2009 Legal & General conducted some research into the amount of time spent on domestic tasks by women and men in the home.

The value of domestic work undertaken by women is £32,812 a year and for men it’s £23,296 a year.

What you can do to get covered.
From time to time we all need to stop and think about our current finances and future needs. With the number of protection products available these days this can be daunting for some.

Wouldn’t you feel better knowing you were getting professional help to find your way to the right protection product? By reviewing your finances with a financial adviser they could help you protect yourself and your partner’s/family’s future. As with all protection policies limitations will apply. 

How can an adviser help you?

• They’ll help to fully identify your protection needs and make recommendations that are specific to your circumstances.
• They’ll answer any questions and concerns you may have.
• They can continue to review your requirements on a regular basis, taking into account any changes to your commitments or lifestyle.

For more help and advice talk to your financial adviser today.

It really is worthwhile thinking about protecting your partner/family’s future.