Protect Yourself & Your Family
Illness and death, for obvious reasons, are uncomfortable subjects. As such, many people do not put insurance policies in place thinking, "it will never happen to me".
Sadly, in our experience "it" does happen and often with severe consequences.
Protection plans can easily be put in place to ensure the ones you love are protected should the worst happen.
It is surprising how relatively inexpensive the monthly premiums can be, particularly when you know they are paying for peace of mind.
Our initial consultation is FREE OF CHARGE, however long it takes.
For your reassurance, we will never levy a charge unless we can demonstrate that we can benefit you in doing so.
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Find out more in our Protection Guide's
Level Term & Critical Illness
Level term assurance policies have a known level of cover that will be paid out in the event of death within a known period of time.Read more
Decreasing Term & Critical Illness
Decreasing Term or Mortgage Protection policies as they are often known provide cover that matches the outstanding balance of your loan.Read more
Family Income Benefit Policies
Family income benefit policies provide an income for the rest of the term of the contract if you die during the policy term.Read more
Income Protection Policies
Under an income protection plan or permanent health insurance policy an income benefit would be paid out if you were unable to work.Read more
Accident Sickness & Unemployment
This type of policy provides a short term benefit towards the monthly income lost in the event of the policyholders earnings stopping.Read more
Why choose Invest Southwest for your financial protection?
- We have a team of fully qualified and independent financial experts
- We are highly recommended by our clients
- We deal with a wide range of products
Call 01823 353970 to find out more
"Very professional, high calibre service, with seamless processes and sound knowledge. Highly recommended."
Frequently Asked Questions
What is protection, and why is it important?
Protection is insurance designed to protect you and your family. There are several types of protection, the main types are Life Cover, Critical Illness Cover, Income Protection Insurance, and Private Medical Cover. As a mortgage is typically the largest financial commitment you will make in life, protection is an important part of ensuring your liabilities can be met over the term of the mortgage no matter what hurdles life puts in your way.
Apart from Building Insurance, protection is not compulsory, however, consider how will your family cope without you, how will you cover your usual monthly costs if you were ill or injured and unable to work for a prolonged period? Clearly, despite being uncomfortable, it is worth thinking about.
While you can feel that “it will never happen to me”, the risks are real and the unexpected happens to people every day
Is protection expensive?
Typically, Life cover and Critical illness cover are suitable products to protect a mortgage. Protection doesn’t have to be expensive and pure life cover is very cheap. Protection is specifically designed for every individual’s needs and budget.
What is Life Cover (LC)?
LC is designed to be a tax-free lump sum that is paid out in the event of your death or diagnosis of a terminal illness. LC is often used to pay off a remaining mortgage balance and provide the deceased’s family with financial security. LC can be decreasing (decreases in line with a repayment mortgage), level (amount of cover stays the same over the whole term), or increasing (increases over time to protect your cover amount from the effects of inflation).
What is Critical Illness Cover (CIC)?
CIC is designed to be a tax-free lump sum that is paid out when you are diagnosed with a critical illness/injury on the policy. CIC is often used to pay off or reduce a remaining mortgage balance, treatment, or changes to your home (such as wheelchair access) to help you cope with the life-altering event.
What is Income Protection Insurance (IPI)?
IPI is designed to pay a regular income long term (typically up to 60% of your income) when you are unable to work due to sickness or an accident. Some IPI policies will not pay out if you become unemployed or made redundant. Unlike LC and CIC, an IPI policy cannot be cancelled by the insurer regardless of the number of claims that have been made. IPI is used to help replace lost earnings to cover mortgage repayments, rent, living expenses, and financial commitments allowing you to maintain your family’s current lifestyle whilst you are unable to work.
What is Private Medical Insurance (PMI)?
PMI is a health insurance policy that is designed to cover the costs of private healthcare, from routine care to diagnosis and treatment. PMI will give you quick access to a GP, medical support, mental health support, and usually get treatment faster than on the NHS.
What does critical illness cover (CIC)?
The illnesses and injuries that are covered by CIC vary per lender. There are some core illnesses that all CIC must have on their policy; Heart attack (of specified severity), Strokes (permanent symptoms), and Cancers (excluding less advanced cases). Other illnesses and conditions that are generally covered are: Coronary bypass surgery, Aorta graft surgery, Kidney failure, Multiple sclerosis, Major organ transplant, Heart valve transplant, Coma, Blindness, Deafness, Loss of speech, Loss of limbs, Motor neuron, Parkinson’s disease, Paralysis, Third degree burns, Total and permanent disability/.
The specific list of illnesses and conditions will be listed by each lender and can be found in the provided policy documents.
Who can apply for Income Protection Insurance (IPI)?
IPI can be taken out if you are employed, self-employed, a contractor, or a homemaker. If you are retired or unemployed, you will not be able to apply for this cover. Providers’ criteria will vary, however, some common requirements are; you must be a permanent resident of the UK, have been registered with a UK GP for at least 2 years, be between 18-59, and work at least 16 hours per week.
How often do claims pay out?
Many providers publish their claimants (successfully paid claims) for the previous years, debunking the belief that the insurer will not pay out. Simply search on the provider’s website for the latest year’s claims.
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