Protection Penzance

Bolitho Skeggs & Bratt Mortgages Penzance

Bolitho Skeggs & Bratt Protection

You often hear the phrases ‘it could never happen to me’ or ‘we'll sort it out later’ but in the case of mortgage protection the old maxim of ‘failing to plan is planning to fail’ is no better suited to the ignoring these crucial decisions.

As you could probably imagine, there are many types of Mortgage Protection Policy to choose from, but finding the one that provides adequate cover and the right level of safety is not as easy as you might think.

But that's where we come in! Here at Bolitho Skeggs & Bratt our aim is to help you find the mortgage protection policy that best meets your requirements.

Like our Insurance brokering service, there is no fee, no catch and no obligation on your part to take out a protection policy.

Mortgage Payment Protection

What is a Mortgage Payment Protection Plan? A Mortgage Payment Protection Plan is designed to ensure that you are able to continue to make your mortgage (and other related expenditure) payments in the event of accident, sickness or unemployment. It is often referred to as Accident, Sickness and Unemployment cover or ASU.

These plans usually pay benefits for up to two years however, if you are seeking a plan that pays for a longer period, then Income Protection Insurance is generally more suitable.

It’s worth noting that there is currently no legal requirement to have such cover and potential mis-selling of these products has generated much interest from the media and the industry regulator in recent years. However, this doesn’t mean that they are not right for some people and can provide valuable protection in the right circumstances.

Who is a Mortgage Protection Plan for? This type of plan is designed for those who are worried about being able to continue their mortgage payments in the event of losing income due to accident, sickness or unemployment.

It is extremely important that you take independent financial advice before taking out this type of plan as they are not always the best nor cheapest option.

Income Protection Plan

What is an Income Protection Plan? An Income Protection Plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness.

These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).

This type of plan is quite often seen as the foundation of any financial planning as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Who is an Income Protection Plan for? This type of plan is designed for anyone whom is working (employed or self employed).

It’s worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than twelve months and so ongoing protection is essential. Plans can also be adapted to fit in with any existing protection you might have.

Critical Illness Cover

What is Critical Illness Cover? A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy as an additional benefit but can also be a standalone plan.

Who is Critical Illness Cover for? This type of plan is designed for those individuals or families whom want a lump sum if they are diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work. The lump sum could even be used to pay for any necessary alterations to your home.

The quality of cover and the illnesses covered can vary significantly between different providers. As Independent Financial Advisors we can help you find the plan that best meets your requirements.

Life Assurance

What is Life Assurance? A Term Life Insurance Plan is the most basic form of life insurance and is usually the cheapest way to insure your life.

It covers you for a fixed period and pays out a one off lump sum if you die during the policy term.

With some term insurance policies you can add additional options, for instance critical illness cover.

If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy.

Protection Savings

Get in touch with us today and we'd be happy to help you with any type of mortgage protection cover listed above. Just head on over to our Contact page now and fill out the form - we look forward to hearing from you!