It is a worrying time when things do not go as planned. If we thought about what life would be like, if we were unable to work, or what if an accident or illness, rendered us unable to carry out our daily activities, or left us without an income. With Income Protection, however, you can be prepared for any eventuality.
Income Protection ensures that up to 70% of your lost earnings will be covered, paying out a tax-free income for the duration of your incapacity until either you return to work or the policy ends at retirement age.
This could provide great comfort should the unforeseeable occur, and provide a regular income that ensures your monthly outgoings and financial obligations are met, meaning your mortgage and way of life is not at risk.
Life cover can provide a lump sum for your family, at a time when you are no longer able.
We all worry about our families, If the worst should happen. Life Insurance ensures that those you love will be protected financially, providing either a fixed lump sum or regular payments. You can even decide whether to cover specific costs, such as mortgages or outstanding debt, and have a surplus amount to replace the income, that the family will no longer receive
As with all policies, there are exceptions and exclusions that affect whether a Life Insurance policy will payout, such as medical conditions that pre-date the policy or participating in high-risk sports or activities. As experienced financial advisers, Hilton Mortgage Solutions can assess your circumstances, so that you get the cover you need for you and your family.
Critical Illness Cover
Critical Illness insurance covers on diagnosis of a specified life-threatening or serious illnesses, it guarantees a single, tax-free lump sum if you fall ill with any of the medical conditions specified. This policy is often used to repay mortgages or debt, or modify a home (such as for easier access), however, the money will be yours to spend in whatever way you need. You could even use it towards treatments you may require.
Cover may vary depending upon the protection provider, they will say how serious a condition must be to receive a payment. However, listed illnesses commonly include:
- Certain types and stages of cancer
- Heart attack
- Multiple Sclerosis
- Parkinson’s Disease
Not all policies are the same, Which is why its really important to understand your individual needs.
Also, any pre-existing illness or condition, will not qualify for payment, nor will death. Hilton Mortgage Solutions will be able to make you fully aware of what a policy includes, what it does not, and which product suits your individual needs.