Protection
Life Insurance
“The only certain thing in life is death and taxes”. Whilst no one wants to imagine the worst, its particularly important to protect you and your family against unforeseen events.
Life Insurance is essential if you have a mortgage, loan or people financially dependent on you. This insurance policy pays out a tax-free lump sum upon your death. The money from this can be used to pay off a mortgage/loan, provide income for your family or to help with funeral costs.
What is Life Insurance?
Life Insurance is a protection policy that pays a cash lump sum to your loved ones in the event of your death, or to you in the event of a terminal diagnosis (less than 12 months to live). If your loved ones are financially dependent on you, then a Life Insurance policy can provide you with the peace of mind that they will be taken care of if you are no longer there. A Life Insurance policy can be used by your beneficiaries in any number of ways, but the funds are often used for:
- Repayment of a mortgage or loan
- Maintenance of current standard of living despite the loss of your income
- Funeral expenses
When applying for Life Insurance it’s a good idea to work out the amount of cover you actually need. Things like your age, smoker status, general health and income will all play a part in the decision as to which insurance provider is best for you and to the amount of cover that you can afford.
There are so many choices when it comes to Life Insurance. Therefore, it is important speaking to a professional. At RF Mortgage Solutions, we can advise you on the correct cover for your needs.
Critical Illness Cover
None of us can predict the future. That’s why it’s so important to protect against the worst – because if you do fall ill, life doesn’t stop for you. Bills will still need to be paid, and mortgage and debt repayments could be affected should you find yourself unable to work.
Considering critical illness cover can remove that worry. It can provide you and your family with a lump sum to cover the costs should the worst happen. We specialise in helping you find the right cover in this situation so that you can have peace of mind – whatever comes your way.
What is Critical Illness Cover?
Critical Illness Cover provides a cash lump sum of money to you upon the diagnosis of a specified serious medical condition, as defined by the insurance provider’s list of claimable illnesses for your policy. This cover can remove the stress of financial concerns at a time when you and your loved ones should be focusing upon you.
Diagnosis of a Critical Illness can be emotionally and physically exhausting and the last thing that you want is financial stress on top of everything else. You need to be able to put all of your energy into dealing with your medical prognosis and focus upon adjusting to your new lifestyle requirements.
A Critical Illness claim payout can be used in any way that you like, but is often used for:
- Repayment of a mortgage or loan
- Contribution towards monthly bills and expenses
- Private medical treatment
- Home modifications
Having a Critical Illness does not necessarily mean that you will need to give up work permanently or need a long absence from work. In some situations, you can have a Critical Illness and require absolutely no time off from work, however in the majority of cases you will require at least some personal time to undergo treatment for your condition.
Income Protection
Income Protection Insurance provides you with a monthly income in the event you are unable to work due to long term sickness or injury. It’s also commonly known as Accident and Sickness cover, or Income Replacement cover. It is designed as a long-term benefit with a policy paying anywhere from a minimum of one or two years right up until your anticipated retirement age.
There is often a deferred period which means that you can choose for the benefit to start after 1 month, or perhaps after 6 months. This often depends on what benefits you already receive through work, and what levels of savings that you could use to offset such a policy.
At RF Mortgage Solutions, we will work with you to understand how much you need in order to pay your bills and put food on the table.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
RF Mortgage Solutions Limited is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales. Companies House number 11176859.
Our registered address is Suite 2068, Letraset Building, Wotton Road, Ashford, Kent, TN23 6LN
Fees
We will typically charge a fee between £250.00 and £999.00. The amount we will charge is dependent on the amount of research and administration that is required.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Most Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.
Contact Information
Call us:
Email us:
info@rfmortgagesolutions.co.uk
Address:
Suite 2068, Letraset Building,
Wotton Road, Ashford, Kent, TN23 6LN