Whilst life may be going well now, none of us know what's around the corner.

Mortgage Minders have a wealth of experience which enables us to advise on a lot more than just mortgages. Our expertise covers life assurance, critical illness cover, home buildings and contents insurance as well as accident, sickness and unemployment cover.

Buildings & Contents Insurance

Buildings insurance covers damage to the actual structure of your home, such as the roof, walls, floors, ceilings and foundations. For example, if your house is destroyed or rendered inhabitable, you can claim the cost to rebuild or carry out the necessary repairs.

Normally, you will also be able to claim the cost of alternative accommodation while the rebuilding work is undertaken. Buildings insurance may also include outbuildings such as sheds or garages.

If you have a mortgage, your lender will insist that you have buildings insurance. However, we would strongly advise that you take out contents insurance whether you are required to have buildings cover or not (i.e. if you are a tenant), so that you are protected.

It's important to arrange contents insurance so that your belongings are covered against things like fire, theft and flood. Contents insurance can also cover things like business equipment, contents temporarily removed from your home, lock replacement, special events cover and so on.

Life Assurance

As a minimum, life assurance would typically be taken out to ensure the mortgage is fully repaid on death rather than the property having to be sold to repay the outstanding debt. In addition, you can also take out family protection to cover the loss of earnings to give you extra peace of mind. Life assurance policies pay out either a lump sum or a series of payments when a person dies during the life or 'term' of a policy.

There are many reasons why life cover may be important for you. For example, the proceeds may be used to:

  • Pay off a debt such as a mortgage
  • Provide an income for your dependants
  • Protect a business from the impact of a crucial partner dying
  • Fund a savings plan for the benefit of your children

Life policies can be combined with other forms of insurance, such as critical illness cover.

Critical Illness Cover

Critical illness cover pays out a tax-free lump sum to policyholders if, during the term of the policy, they are diagnosed with one of a number of specified critical illnesses or conditions such as cancer, Parkinson's disease, multiple sclerosis, paralysis following a heart attack or stroke, etc.

How much critical illness cover you need depends on your individual circumstances and goals. Exactly which illnesses and conditions the policy holder is covered for will be determined at the outset, and will be stipulated in the policy details.

Accident, Sickness & Unemployment

Accident, sickness and unemployment cover allows you to protect your financial commitments if you are unable to work because of illness, accident or compulsory redundancy, and can include mortgage or rent payments and any other regular monthly insurances, life cover, utility bills and loan payments.

Income Protection

Formerly known as permanent health insurance (PHI), long-term income protection (IP) is an insurance policy that pays out if you're unable to work due to injury or illness.

Income Protection usually pays out until retirement, death or your return to work, although short-term IP policies are now available at a lower cost. IP doesn't usually pay out if you're made redundant, but will often provide 'back to work' help if you're off sick.

With the number of protection products constantly evolving, it is important that you speak to us so we can explain in plain English what cover is right for you and your individual circumstances.

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Mortgage Minders (Lincoln)
5 The Landings, Burton Waters, Lincoln LN1 2TU

01522 822282

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