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Insurance FAQs

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What is Life Assurance?

Life cover provides a lump sum or monthly benefit in case of the death of the policy holder, enabling the remaining members of the family to be able to continue the same standard of living. It is possible to add critical illness cover to this policy and to cover your mortgage with a decreasing balance or a level lump sum over the term of your mortgage.

What is Critical Illness Cover?

Critical Illness cover provides a lump sum or monthly benefit in case of the critical illness of the policy holder, enabling the remaining members of the family to be able to continue the same standard of living. It is possible to add life assurance to this policy and to cover your mortgage with a decreasing balance or a level lump sum over the term of your mortgage.

What is Income Protection or Accident Sickness or Unemployment insurance?

Income Protection Plans provide cover to prevent your mortgage from going into arrears and perhaps even having your home repossessed, by providing assistance in making mortgage interest repayments when a person is sick.  It is possible to base an income protection product on your income rather than your mortgage payments. This type of policy is designed for long term cover and can cover for up to 100% of your gross salary (excluding bonuses or car allowance) subject to individual insurer’s maximums (e.g. 100% of income, or £50k a year).

The deferment periods available are 4, 13, 26 and 52 weeks and the expiring age can go up to retirement (50 – 75 years).

Accident, Sickness, Unemployment Insurance and Mortgage Payment Protection Insurance provides cover to prevent your mortgage from going into arrears and potentially having your home repossessed. Accident Sickness, Unemployment insurance provides assistance in making mortgage interest repayments if you have an accident, are sick or are made redundant. This type of policy is designed for short term cover and renewed annually.

Accident and Sickness or Unemployment are also available as individual policies.

The deferment periods available are 4 or 13 and are available for a period of 12 or 24 months. Policies can be arranged to rise with inflation and Back to Day One cover option also available.

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