Life is full of uncertainties, and while we all strive for a secure and prosperous future, unforeseen events can disrupt even the best-laid plans. This is where life insurance steps in as a crucial financial safeguard. In this article, we’ll delve into the myriad reasons why life insurance is important and why you should consider it an essential investment for your family.
Look After My Mortgage we are highly trained insurance advisers that know the insurance market inside out. We suggest not using and taking professional advice. Using an insurance advisor comes at no cost to you, yet it has the potential to save you thousands through expert insurance guidance. We possess extensive expertise and knowledge concerning insurance products, underwriting procedures, and the insurance marketplace. Our aim is to demystify complex policy terms and conditions, ensuring you fully comprehend your insurance choices.
For instance, when comparing an insurance product from a price comparison site to one provided by a broker, it’s essential to consider the rationale behind apparent price disparities.
Products from price comparison sites often come with stringent conditions and definitions. Without naming specific companies, let’s take an example: We’ve encountered a policy that would only provide a payout if you lost both feet or both hands. At Look After My Mortgage, we prioritize your best interests, and we wouldn’t recommend such policies to you.
As with all insurance policies, conditions and exclusions will apply. The cost of this insurance depends on several factors, such as your age, where you live and your occupation. As a result, the cost you will pay is based on your own circumstances.
Life Insurance – typically for the mortgage debt.
The main objective of life insurance is to offer a safety net for your loved ones should you pass away unexpectedly. By having a life insurance policy, you are guaranteeing that your family won’t face financial difficulties in covering their everyday expenses, mortgage payments, educational expenses, or any outstanding debts in case you are no longer there to support them.
If you are concerned about the possibility of leaving your family with a mortgage debt or other financial obligations, life insurance can act as a safeguard. It provides peace of mind that your family’s home can be protected from repossession, ensuring that your partner’s financial well-being is preserved even after your passing.
We are whole of market insurance advisors and can offer the right advice – why do it along when you have an expert.
How a Critical Illness policy can help.
Critical illness insurance serves as a crucial financial support system for individuals facing the challenges of a severe medical condition. It allows them to concentrate on their recovery without the added burden of worrying about the financial repercussions of their illness. This insurance provides a valuable safety net during difficult times.
According to research conducted by Macmillan, nearly half of all individuals will receive a cancer diagnosis at some point in their lives [1]. Macmillan’s estimates indicate that in the UK, someone is diagnosed with cancer approximately every 90 seconds.
What many families may not realize is that if you’re diagnosed with an illness that prevents you from earning an income, the journey ahead can be long, arduous, and expensive. It’s important to understand that BOTH sources of income may be interrupted, as you may need to provide care and support for your partner in addition to dealing with your own health challenges.
Remember, you must make your mortgage payments regardless to avoid repossession.
At Look After My Mortgage, we are whole of market for our illness policies so we can offer you expert and unbiased advice.
Private Medical Insurance (PMI) / Health Insurance
Extensive Coverage: Private medical insurance (PMI) policies typically encompass a broad range of services, spanning consultations, hospital admissions, surgical procedures, and diagnostic tests. Some plans even go the extra mile by including complementary therapies like physiotherapy and mental health services.
Family Well-Being: With family policies, you can extend the benefits of PMI to your beloved relatives.
Emergency Assistance: In unforeseen emergencies, PMI guarantees you rapid access to medical care, regardless of the time or day.
Peace of Mind: The paramount advantage of PMI is the profound peace of mind it affords. Knowing that you possess access to top-tier healthcare when needed can alleviate stress and anxiety, enabling you to concentrate on your recovery.
If you’re interested in securing this invaluable protection, kindly request a callback, and one of our Private Medical Care Experts will guide you in finding the most suitable policy.
Why use Look After My Mortgage for my life insurance over a comparison site?
At Look After My Mortgage, we are whole of Market Life Insurance Advisors.
Using an insurance advisor comes at no cost to you, yet it has the potential to save you thousands through expert insurance guidance. We possess extensive expertise and knowledge concerning insurance products, underwriting procedures, and the insurance marketplace. Our aim is to demystify complex policy terms and conditions, ensuring you fully comprehend your insurance choices.
For instance, when comparing an insurance product from a price comparison site to one provided by a broker, it’s essential to consider the rationale behind apparent price disparities.
Products from price comparison sites often come with stringent conditions and definitions. Without naming specific companies, let’s take an example: We’ve encountered a policy that would only provide a payout if you lost both feet or both hands. At Look After My Mortgage, we prioritize your best interests, and we wouldn’t recommend such policies to you.
Reviews
Anesh has been the best broker I have ever had the pleasure of meeting. Anesh is timely, efficient, polite and respectful, a professional indeed! I will be coming back to Anesh to resolve all my property related purchases and hopefully this will be a long term business relationship! Couldn’t recommend Anesh enough!
I had 3 days before my mortgage rolled onto the variable standard rates. I called Anesh to help me out. Anesh made time for me out of working hours and helped me secure my mortgage renewal by going through the application and secured a good rate for me. I couldn’t vouch enough for Anesh. A good family man who cares about his client base as well and everything is very honest and upfront.
As things do in life I found Anesh through word of mouth from other happy clients who also happen to know me , Anesh made me feel safe and confident in the whole process right off the back , he took time to explain the process and ease my concerns , he took all the hassle out of the paper work to the point of it being stress free , even after the offer of Morgage he has remained invested in the process and is often at the end of the phone when I need advise or guidance in other steps of the process, Anesh thank you for the amazing work you do
I honestly cannot recommend Anesh enough, he works endlessly around the clock to make sure your every need is met. So quick and good at what he does. Never pushey, always gives you plenty of options and as much information as possible. Not only for your mortgage but for all your financial needs. So positive and has a smile on his face every time. I’m pleased he isn’t just a one off service, he’s an ongoing helper and builds a great relationship!
Anesh has been a great mortgage advisor to us! Nothing seemed too much trouble at all for him. He gave his honest opinion on things and have helped me and my partner become first time buyers. Muchly appreciated all his help. Great communication and service.
FAQs
What is life insurance?
Life insurance is a contract between an individual (the policyholder) and an insurance company. In exchange for regular premium payments, the insurance company provides a death benefit to the policyholder’s beneficiaries upon the policyholder’s death. This benefit is intended to provide financial support to the family or dependents of the insured in the event of their passing.
Are all insurance advisors the same?
Absolutely not. In my experience most brokers are not whole of market, this could mean you will not be getting advice from a whole of market advisor.
At Look After My Mortgage, we have opted to be whole of market so you can trust you have the most suitable policy in the marketplace.
Do you have a sample of providers?
To mention some, Look After My Mortgage has established partnerships with the following reputable companies:
- AIG
- Aviva
- British Friendly
- CIExpert
- Cirencester Friendly
- FTRC
- Guardian
- Holloway Friendly
- Legal & General
- LV
- OneFamily
- Royal London
- Scottish Widows
- Shepherds Friendly
- The Exeter
- VitalityLife
- Zurich
Who pays for the advice?
When you obtain insurance through us, the insurance provider compensates us, our brokers, with a commission. This practice is a fundamental aspect of the insurance industry and is designed to be mutually beneficial.
Here’s why it’s advantageous for everyone involved:
Compensation for Services and Expertise: Insurance companies compensate intermediaries like us for the services and expertise we provide. This includes guiding you through the insurance application process, asking relevant health questions, preparing necessary reports, and managing the policy until it becomes active. These tasks can be time-consuming, taking several hours or even weeks to complete.
Customer-Friendly Approach: The commission-based model benefits you, the customer, as well. When you choose to work with us, you won’t incur additional charges for our advisory services. Instead, our compensation is derived from the insurance provider, ensuring that you receive expert guidance without having to pay separately for our time and assistance.
In essence, this arrangement allows us to offer our services and expertise at no additional cost to you, making the insurance process smoother and more cost-effective for our valued customers.
