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Life Protection

If you have a family then you will want to protect your loved ones. Life Protection can provide your family with a lump sum upon the unfortunate event of your death, or can provide payment for the remaining balance of your mortgage. There are various types of Life Cover and also optional additions to give extra cover.

We can discuss your requirements to provide you with competitive cover that is right for you from our panel of providers.

Level Cover
This is the most straight forward policy. You pay a fixed monthly premium for the length of the policy. If you die during the policy term then your loved ones could receive a lump sum. Often the lump sum would be paid out early if you are diagnosed with a terminal illness.
Or it could cover an Interest Only Mortgage so that your outstanding mortgage balance will be paid up in the event of your death.

Decreasing Cover
Normally this would be used to cover a repayment mortgage. The level of cover decreases as the outstanding mortgage balance decreases, and therefore your monthly premiums will decrease too. It would run for the duration of your mortgage.

Critical Illness Cover (CIC)
Life cover will only provide cover against death, but you can also add CIC to your policy to give extra cover against you being diagnosed with other serious, life threatening illnesses and incapacity.

Over 50's Plans
Many people who are over 50 will perhaps have no mortgage left to pay. But they may still wish to provide life cover for their loved ones. With Over 50's plans you can pay a premium for however many years you wish to, often until you are 90 to cover against death. The payout will often be designed to cover things such as funeral expenses, rather than a large lump sum as with most Life insurance, and therefore the premiums will be smaller and will not require as many medical questions at the application stage.

Waiver Premium
This another optional extra. If you are unable to work due to illness or injury then you will not have to pay your monthly premiums until you are fit to work again.


 

 

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Pure Money is a trading style of Bradgate Financial Solutions Limited and is authorised and regulated by the Financial Conduct Authority under FCA number 672856. Trading Address: UN14 Armstrong House, First Avenue, Doncaster, South Yorkshire, DN9 3GA. Registered Address: 44 Arbor Road, Croft, Leicestershire, LE9 3GD

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR DEBT SECURED ON IT