Protection
“Its better to have something in place and not need it, that to have nothing and need it”
Life insurance
Critical illness cover
Income protection
Our advice is broken into two areas, Mortgage & Protection
Whilst you need to Mortgage to buy a house, you may feel that is the only area we advise on.
Our job is to make sure you not only get the keys but you get to keep them should the worst happen. If you break a mortgage down in its simplest definition, it’s a large loan secured against your home that can take decades to pay off. If something should happen where you pass away, diagnosed with a life changing illness or simply cannot work due to illness or injury then your mortgage repayments and thus home and lifestyle soon become at risk.
We break the main areas of protection into three, Life insurance, Critical illness cover and Income protection.
Why Us?
We are proud to say at Thurlestone mortgages that with our panel of protection providers the premiums are not loaded, which means there is no extra cost for using our services and you get the most competitive prices as going direct – something only certain mortgage firms have available to them. However, you receive the benefit of experience in what cover best suits you and a fully tailored recommendation.
01
Life insurance
No one enjoys talking about the worst possible scenario. Although thinking about this isn't pleasant, it's crucial to secure both yourself and your loved ones against unexpected events.
If you have financial obligations such as a mortgage or dependents relying on your income, life insurance becomes essential. This policy provides a tax-free lump sum to your beneficiaries upon your death, which can help settle debts like a mortgage, replace your lost income, or cover funeral expenses.
What is Life Insurance?
Life insurance is a protection plan that offers a cash payout to your family in the event of your death or to you if you're diagnosed with a terminal illness (less than 12 months to live). If others depend on you financially, having life insurance can bring peace of mind, knowing they will be supported if you’re no longer there to provide for them. The funds from a life insurance policy can be used in various ways, including:
- Paying off a mortgage
- Maintaining the family’s standard of living despite the loss of income
- Covering funeral costs
When considering life insurance, it's important to assess how much coverage you actually need. Factors such as age, smoking habits, health status, and career type all play a role in determining the right policy and coverage amount for you.
With so many options available, it’s wise to consult with an expert. At Thurlestone Mortgages , we can help guide you in choosing the right life insurance plan to meet your specific needs.
02
Critical illness
The future is uncertain, which is why it's crucial to prepare for the worst-case scenario. If you do become seriously ill, life continues as usual—bills still need to be paid, and mortgage or debt payments could be impacted if you're unable to work.
Critical illness cover can help ease that concern by offering a lump sum to support you and your family in difficult times. We specialize in helping you secure the right coverage, giving you peace of mind no matter what challenges arise.
What is Critical illness?
Critical Illness Cover offers a lump sum payment upon the diagnosis of a covered serious illness, as outlined by your insurance provider's list of claimable conditions. This coverage can help alleviate financial stress during a time when you should be focused on your recovery and well-being.
Being diagnosed with a critical illness can be both emotionally and physically draining, and the last thing you want is to add financial strain to the situation. You need the space to focus on your medical journey and adapt to any lifestyle changes that come with it.
A Critical Illness payout can be used for any purpose you see fit, but it is commonly spent on:
- Paying off a mortgage or loan
- Covering monthly bills and living expenses
- Seeking private medical care
- Making necessary modifications to your home
While a Critical Illness diagnosis doesn’t always mean you’ll need to leave work permanently or take extended time off, many individuals will still need some time off to undergo treatment or recover. In some cases, you may not need to miss work at all
03
Income protection
Income Protection offers a monthly income if you're unable to work due to a long-term illness or injury. It is also known as Accident and Sickness cover or Income Replacement cover. This type of insurance is designed to provide long-term support, with coverage lasting anywhere from one or two years to until your expected retirement age.
More about the service
Typically, there is a waiting period before the benefit kicks in, allowing you to choose when the coverage begins—either after one month or possibly six months or more. The timing often depends on the benefits you receive from your employer and the savings you have available to help cover any gaps.
As Income Protection has to be an advised sale, at Thurlestone Mortgages we will work out how much you need per month to pay mortgage or rent, bills and food plus essential family needs.
04
Protection for pre existing conditions
You may feel as though due to a medical condition or family medical history you may never get any form of protection. Although generally more difficult to obtain this we will always explore all options to find a solution for you.
