Saffron Insurance Services Ltd Joint Mortgage Protection
At saffron insurance a mortgage protection service is available for safeguarding home buyers. There are various ways in which you can protect your mortgage. Some of them are as discussed below.
Level term insurance: here the amount of cover can be fixed for example for an interest only mortgage. Decreasing term insurance: the amount of cover here in this plan, reduces in line with your repayment mortgage.
Accident sickness and unemployment cover: this is one cover that helps cover your monthly rental or mortgage payments and some living expenses.
As you protect your mortgage you should bearing mind that this is a joint mortgage hence you need to protect a few other parties. You should therefore know how to do the following. Protect yourself.
Life insurance: this is one option that provides a lump sum if you die during the term of the plan. This could help you immensely when it comes to financial shortages. Life and critical illness cover: could help you pay a large amount of money when you die or become critically ill.
Income protection: protects you against loss of income if you happen to be no longer able to work. Accident and sickness insurance: this provides you with an income if you happen to be involved in an accident or you are unable to work due to ill health.
Private medical insurance: this an appropriate cover for the expenses incurred when you undergo private medical treatment.
Cash plans: these are funds that help cover health care costs such as dentistry, opticians, physiotherapy and health screening.
Protecting your family.
Life insurance: provides your family with a huge amount of money if you happen to die during the term of the plan.
Over 50s plan: when you are no longer around this is the plan that gives your family guaranteed acceptance without need for a medical.
Income protection: this protects you against loss if income in case you are unable to work and still have to take care of your family especially if you are the sole bread winner of your family.
Cash plans: this is one plan that provides funds to help cover health care costs.
Will writing: writing a will allows you to set out very clearly your wishes on death and can make dealing with your affairs much easier for your family.
Placing you policies into trust: this comes in handy to ensure your nominated beneficiaries receive the proceeds from any insurance policies as soon as possible.
All the above are no doubt measures you should consider putting into place to ensure you have maximum joint mortgage protection.
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