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Protection and insurance
The cover that makes the mortgage survivable.
Arranging the mortgage is the easy part. Making sure the payments continue if you are ill, injured or worse is the part that actually protects your family. We compare across insurers rather than selling one provider.
What we arrange
Six types of cover, reviewed together rather than sold separately.
Not everyone needs all of these. The point of the conversation is working out which ones actually matter for your situation and your budget.
Life insurance
Pays out a lump sum or a regular income if you die during the term. Most people set the term to match the mortgage, but cover for the family beyond that is worth pricing too.
Critical illness cover
Pays out on diagnosis of a specified serious condition such as many cancers, heart attack or stroke. Definitions vary significantly between insurers, which is where advice earns its keep.
Income protection
Replaces part of your income if illness or injury stops you working. Usually the most valuable cover of the three and the one people are most likely to skip.
Mortgage protection
Decreasing cover that tracks the mortgage balance down. Cheaper than level cover and designed to clear the loan rather than leave a lump sum.
Family income benefit
Instead of one lump sum, pays a regular monthly amount to your family for the rest of the term. Often the easiest option for people to budget around.
Buildings and contents
Buildings cover is a condition of almost every mortgage. We can arrange it alongside everything else rather than leaving it to the last week.
As with all insurance policies, conditions and exclusions will apply. Cover is only as good as the answers on the application, so we will always take the time to complete it properly with you rather than rushing it through.
Priced properly, not bolted on at the end.
Protection gets treated as an afterthought far too often, usually because it turns up in the last week before completion when everyone is tired. We raise it early, price it honestly and are perfectly happy for you to take only the cover you actually want.
- Compared across insurers, not tied to one provider
- Written into trust where appropriate, at no extra cost
- Existing policies reviewed before you replace them
- Underwriting outcomes checked before you commit
- Reviewed again when your circumstances change
Common questions
Worth knowing before you decide.
Do I have to take protection through you?
No. You are free to arrange cover elsewhere or not at all, with the exception of buildings insurance, which most lenders require as a condition of the mortgage. We will always price it so you can compare.
Is critical illness worth the extra cost?
You are statistically more likely to be off work long term through illness than to die during the mortgage term, which is why income protection and critical illness are worth pricing rather than dismissing. Whether the cost is right for you is a budget conversation, and an honest one.
I already have cover through work. Is that enough?
Often not. Death in service is typically a multiple of salary and ends the day you leave the job. Employer sick pay usually runs for a few months at most. We will look at what you already have before recommending anything new.
What is a trust and why would I want one?
Writing a life policy into trust means the payout goes directly to the people you name rather than into your estate, which usually means faster payment and can help with inheritance tax. It normally costs nothing to set up alongside the policy.
Next step
Let us price the cover before you need it.
A protection review takes about twenty minutes and there is no obligation to take anything out.
Prefer to talk now? Call 01282 937599 or email cristian@cdfmortgages.co.uk.