Mortgage & Personal Protection

Griffin Financial Advisers (5)Having protection is an essential part of property ownership and protecting your or your family’s lifestyle. It is used to provide either a lump sum or income for you or your partner and dependants in the event of serious illness or death. This would provide you and your family with the financial stability needed during this difficult time.  We can put some of your policies in trust to ensure the right person will receive any benefit free from any tax.

Life Insurance is to provide financial security to your partner and/or dependents in the event of your death. It can be used to either pay off the mortgage or provide an income for the household.  There are many different types of life policies- some have decreasing benefits specifically designed to protect a repayment mortgage. Other polices can provide level cover.  The policies normally have an end date. We can also look at Whole of Life insurance to allow for funeral expenses or providing a legacy which will pay out in the event of your death at any time.

Griffin Financial Advisers (2)Critical Illness insurance will provide a lump sum in the event of you contracting one of the insured illnesses. The policy providers will all offer niche cover, but the majority cover a list of similar illnesses and the main ones are Heart Attack, Stroke, Cancer and Multiple Sclerosis.  You can choose the level of cover you want, and the policies will also provide valuation Critical Illness for children too.

Family Income benefit.  This can cover either life assurance or critical illness to protect your family and pay the benefit annually to replace income while you have dependent relatives.

Income Protection. If you suffer a long term illness and can’t work then income protection will cover you for a fixed term to enable you to keep paying your mortgages and bills in the event of not being able to work. There is the option to take this cover over either short term periods, or up to your intended retirement age.

Griffin Financial Advisers (3)

Accident, Sickness and Unemployment Insurance can cover you for up to 2 years in the event of you being unable to work.

Household Insurance is an important aspect of owning a property. Buildings cover is usually required. If you are purchasing a freehold property you will need your own buildings insurance; or for leasehold properties this is covered by the freeholder. It is worth getting contents insurance and cover for personal possessions used outside the home.

Tax planning and Trust planning are not regulated by the Financial Conduct Authority.

No matter what your mortgage or protection needs might be, we are always on hand for help and advice.

It is vital that you are as open and honest when arranging an insurance policy to ensure that in the event of a claim, the benefit will be paid.  We will need to be aware of your smoker status and have details of any pre-existing medical conditions in order to be able to recommend the right policy for you.