If you were made redundant or were unable to work due to an accident or sickness, how would you pay your mortgage and bills? At Point Me To Ltd, we feel it is very important to have protection for your financial mortgage commitment, we believe that having a safe guard in place, reduces your financial risk and the exposure of financial uncertainty. A popular type of cover to protect you against loss of income is an accident, sickness and unemployment policy.
This type of policy will give you a monthly income tailored to your specific needs, which will usually pay out for a maximum of 12 months or until you return work, you can choose the amount of benefit you would like to receive based on your own circumstances and needs.
Our advisers can help you make sure you have the appropriate level of cover in place, to reduce any financial risk.
Contact us for a free no obligation quote.
There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.
Accident, Sickness and Unemployment Cover you will need to consider:
- Potential rent returns, as lenders will often use this as a guide to determine the amount they will lend rather than solely income.
- Interest rates on a Buy to Let historically tend to be slightly higher.
- Lenders will expect a larger deposit to be placed on the property for additional security, usually at least 25%
Are there different types of life cover?
There are basically two types of cover. Term assurance pays out if you die within the term, which can be anything from a few years to a number of decades. If you buy whole of life cover, the policy runs until your death. In other words, it is guaranteed to pay out; although there are […]View More FAQS