Life

ASsurance

WHO NEEDS IT?

What’s right for you? We all have different protection needs

 

Single with own home

A typical single homeowner may not be worried about leaving an inheritance, but should consider protection against loss of income from serious illness or sickness, accident or redundancy. Can you imagine the financial impact if you got a critical illness and couldn’t work? Would you still have enough income to pay the mortgage and bills? And if you have savings, how long would they last? If, like most people, you’d struggle to meet your financial commitments, critical illness cover could be the answer, or an inexpensive sickness, accident, unemployment policy could give you up to 2 years of payments to cover your outgoings.

 

Couple - no children

Ideally a couple should have enough Life or Critical Illness cover to pay off the mortgage if either should die or suffer a very serious illness. And if both partners’ incomes are essential to maintaining their lifestyle, Income Protect or Payment Protection should be considered.

 

Family with children

Without the right protection in place, would your family be able pay the bills if the main earner couldn't work because of illness or accident. Or if the worst happened and one partner died would your mortgage still be paid? A relatively inexpensive life policy would take care of this.

 

Divorced or single parent

A home owning parent would normally want their children to inherit the proceeds of the family home. However, if he or she died with a mortgage outstanding there may be nothing left over to inherit if the house has to be sold. A life policy taken out to cover the mortgage balance could be essential.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS

ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT

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McCoy Mortgages does not charge a fee for a residential mortgage or protection insurance advice and applications. Other charges by lenders or insurance providers may apply. Please ask for a personalised illustration. McCoy Mortgages is a trading style of Keith McCoy Associates Limited. Keith McCoy Associates Limited is authorised and regulated by the Financial Conduct Authority, FCA number: 450724. Registered office: Unit 77 Cariocca Business Park, Sawley Road, Manchester M40 8BB. 

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