Arranging a mortgage secures the property. Protection secures the household’s ability to keep paying for it. Mortgage protection insurance is the part that keeps the arrangement standing when income stops.
It is the part of the process people rush, usually at the end, usually while tired. It is also the part that matters most on the day something goes wrong. Lendwise Capital protection advice treats it as a proper advice exercise rather than a box to close.
Life cover pays out if you die during the policy term. Most often it is arranged to clear a mortgage, so that a partner or children can stay in the home without the pressure of a sudden decision. Life cover advice UK households need usually begins with the mortgage balance and the term left to run on it.
We will talk through the term, the amount, whether cover should decrease alongside the mortgage or stay level, and whether writing the policy in trust makes sense for you. Trusts are frequently overlooked and can significantly speed up a claim. The life insurance advice UK clients receive from us covers the trust question as closely as the premium.
Critical illness cover pays a lump sum on diagnosis of a condition named in the policy. The value sits almost entirely in the definitions, which vary considerably between insurers.
Two policies can differ by a few pounds a month and by a great deal in what they actually cover. We compare the quality of the wording, not simply the premium, and we tell you clearly what falls outside it. Critical illness cover advice is largely a comparison of definitions.
Income protection replaces part of your earnings if illness or injury stops you from working, continuing until you return, until the term ends, or until retirement, depending on how it is set up.
For self-employed clients with no employer sick pay behind them, this is often the most valuable policy in the plan and the one most commonly missing. Income protection advice matters most where nothing else will pay the mortgage after a few weeks.
Buildings cover is a condition of nearly every mortgage offer. We can arrange cover that satisfies the lender and reflects the genuine rebuild cost of the property rather than its market value, which are rarely the same figure.
Bring us what you have. Policies arranged years ago may no longer match your mortgage, your income or your family, and some will be paying for cover that has quietly become irrelevant. Family protection insurance arranged before children arrived rarely reflects the household as it stands now.
Occasionally the right advice is to change nothing at all. When that is the case, we will say so, and there will be no charge for the review.
A protection review takes less time than most people expect and is free of charge. We give protection advice to London and Essex clients in person, act as a protection adviser that Essex households can reach directly, and work as a protection insurance adviser for clients anywhere in the UK by video.
