If you’re in good health, it’s all too easy to think you’ll never need Life, Critical Illness Cover and Income Protection. But if serious illness or injury does touch your life, having the right cover in place to pay off your mortgage and cover the bills, will make all the difference.
Life Insurance is also referred to as Term Assurance. Designed to pay a lump sum or a regular income in the event of death over a term you choose, often in line with your mortgage.
It may pay your mortgage off in full, replace a lost income to your spouse, family or any other nominated beneficiary or simply provide a lump sum legacy for your family.
This type of life cover is suitable for a repayment mortgage. Cover mirrors your mortgage and decreases at the same time. So, as your debt decreases, so does your cover.
A more comprehensive cover, the cover stays at the same amount throughout the whole term. This is suitable for those with an interest-only mortgage or can be taken out in addition to a decreasing term policy to ensure once the mortgage is repaid your family also have a lump sum to help towards lifestyle costs.
Life insurance comes in many shapes and sizes. If you have any dependants it is the cornerstone of any family protection package. The Glasgow Mortgage Company can provide you with the peace of mind that comes with knowing that you and your lifestyle are protected if something should happen.
We can talk through the various options available to ensure you have the right policies in place within your budget.
We will charge a fee of between £0 and £995. The amount we will charge is dependent on the amount of research and administration that is required. This fee is payable on receipt of a mortgage offer.