Insurance

Mortgage & Income Protection Advice

Your mortgage payment is probably your largest financial commitment each month. It is vitally important that your mortgage can be repaid should the worst happen. We can discuss all your insurance requirements to help you protect and keep your home, we are able to advise and recommend what products would be most appropriate to you and your family.

Mortgage Protection 

This type of insurance is designed to help protect against the impact of death, terminal illness or critical illness (if chosen) on you and your family and will pay a lump sum to help pay off your outstanding mortgage.

Income Protection Plans

This type of insurance aims to protects your Income against financial impact of incapacity on you and your family’s lifestyle. It is designed to pay you a regular monthly benefit if you can’t work due to incapacity caused by an illness or an injury and which results in a loss of earnings.

Relevant Life Insurance 

Relevant life insurance is a type of life insurance policy that is designed to provide a tax-efficient way for employers to offer death-in-service benefits to their employees or directors. It is a cost-effective way to set up individual death-in-service benefits for staff in companies that are too small to consider setting up a full group protection scheme. The business takes out the plan on the life of an employee, with instances of director-level employees taking out cover for themselves.

A Relevant Life Plan offers a cost-effective way for an employer to arrange term assurance on the life of an employee, including directors. It’s designed to pay a lump sum benefit payable to the employee’s family if the person covered dies or is diagnosed with a terminal illness, whilst employed during the term of the policy. 

The premiums paid by the employer are usually viewed as an allowable business expense by HMRC, and all premiums and paid benefits qualify for full Income Tax relief, National Insurance relief and Corporation Tax relief. This means premiums could be reduced by up to 49% compared to a typical life policy if the employee is a higher rate taxpayer. For a basic rate taxpayer this figure could be up to 40% 

As with all insurance policies, conditions and exclusions will apply.