Protection

When taking out your new mortgage it is important that you consider other mortgage-related products such as life assurance, critical illness and income protection. The state will not assist you with paying your mortgage interest payments if you are out of work due to accident, sickness or unemployment during the first nine months, if you qualify at all (the benefit is means tested). It is therefore your responsibility to ensure that you have sufficient protection to enable you to maintain your mortgage payments should your circumstances change.

At Capital Finance, we not only advise on the best mortgage options but also discuss with you any potential shortfalls you may have in your existing cover in the event of loss of income due to accident/illness, critical illness or death during term of your new mortgage.

We will advise and offer a quote to allow you to make a informed decision as how to best protect your new mortgage.

Life insurance, which can also be known as life cover or life assurance, is a type of policy that protects your loved ones with financial support if you die. It can help minimise the financial impact that your death could have on your family and offer peace of mind to those you care about most.

Most life insurance policies are designed to pay out a cash sum to your loved ones if you die while covered by the policy. It can help them deal with everyday money worries such as household bills, childcare costs or mortgage payments.

For most of us, being unable to work for medical reasons would present a serious financial challenge. What would happen to you or your loved ones if you couldn’t work due to illness or injury which resulted in a loss of earnings? How would you cover your outstanding bills like rent, mortgage or other living costs.

Income protection insurance can give you the peace of mind you deserve. A loss of earnings could have a real financial impact on any family’s lifestyle, and income protection insurance is designed to meet the needs of people who want to protect against this, by paying out a regular monthly amount.

Critical illness cover is a type of insurance that pays out a tax-free lump sum if you're diagnosed with a critical illness.

It's designed to help support you and your family financially while you deal with your diagnosis — so you can focus on your recovery without worrying about how the bills such as mortgage payments will be paid.