Protecting yourself, your loved ones and your home has never been more at the forefront of our minds as we realise the fragility of life, business and the world we live in. Thinking about protection and insurance brings with it difficult questions we may not want to answer, but it is more important than ever to make sure you have adequate protection and insurance in place to secure your financial future.

The future is unknown, so it is important to consider the risks and be prepared if things don’t go to plan. That means thinking about what is important to you for example, safeguarding your family, your lifestyle and your home and making sure they are protected.

What types of protection should you consider?

The answer depends on your personal circumstances. At Freedom Mortgage & Protection Services we will make recommendations based on your personal priorities whilst taking in to account any existing cover you may already have.

Protection & Insurance

These plans will 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

The Types of Protection and Insurance Cover to Consider Include:

Life Insurance

Life insurance which will pay your dependents a lump sum or regular payments if you were to die unexpectedly. If you have a partner or children, life insurance can provide you with the reassurance that they will be able to cope financially without you.

Critical Illness Cover

Critical illness cover will provide you with a lump sum to protect you in case you get a specific type of life changing condition. 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 Insurance

Income protection insurance is designed to support you financially if you can’t work due to illness or injury and your income drops. This type of policy is particularly relevant for anyone who is self-employed and wouldn’t get sick pay.

Short Term Income Protection Insurance

Short term income protection insurance (commonly known as Accident, Sickness & Unemployment or ASU) will pay out a monthly sum, for a set period of time, should you lose your source of income due to illness, injury or redundancy.

Building Insurance

Building insurance is a policy which covers damage to the structure of your home, such as the walls, roof and floors. It can sometimes cover damage to fixtures and fittings too. It is normally a condition of most mortgage lenders so not having a policy in place could put your mortgage – and home – at risk.

Contents Insurance

Contents insurance covers your personal belongings in and away from your home, for loss or damage. Different policies offer different levels of cover but you can generally expect to be covered for theft, fire and flood. Accidental damage and personal possession cover are usually optional extras so it is important to check what is and isn’t included in your policy.

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