INSURANCE & PROTECTION
Everyone has a unique financial and personal situation in most cases it is quite likely that you will need some form of Life Insurance to protect against your death, Critical Illness Protection to cover against you suffering a serious condition or payment protection insurance if you have a mortgage to cover. We will assess your situation for you, especially if we are completing a new mortgage application for you and recommend the most appropriate contract to suit your needs and your budget.
LIFE INSURANCE
This cover pays out a lump sum to your beneficiaries so that they have money available to repay any outstanding debts (normally a mortgage) if you were to die. This protection can also just be used as family protection to help with ongoing living costs for the family members left behind. There are two main types of life cover:
Absolutely amazing service from porters financial. Emma deals with all my finances, pensions, insurance & mortgages. I wouldn’t go to or trust anyone else. Highly recommend.
LEVEL TERM ASSURANCE
You can use this cover to protect you, your family, your mortgage, or a business, for a fixed monthly premium throughout the recommended term. The amount of life cover you have chosen will be paid out as a lump sum if you die within the term. This would typically be taken out alongside an interest only mortgage.
DECREASING TERM ASSURANCE (MORTGAGE PROTECTION)
This cover is typically used to protect a repayment mortgage and is usually cheaper than Level Term Assurance. The plan provides a guaranteed sum of money if you die within the term. The amount decreases over the term of the policy roughly in line with your outstanding mortgage debt.
OPTIONS TYPICALLY AVAILABLE WITH TERM ASSURANCE
WAIVER OF PREMIUMS (WOP)
In the event of long-term ill-health, either through sickness or accident your premiums will be paid by the insurer.
TERMINAL ILLNESS COVER
If you are diagnosed with a terminal illness and are eligible to claim during the plan, and are given less than 12 months to live, your policy will pay out a lump sum to help you to sort out your finances. This cover does not normally apply during the last 18 months of the term.
CRITICAL ILLNESS COVER
Critical Illness Cover (CIC) will pay out a lump sum if you are diagnosed with one of the specified critical illnesses and are eligible to claim. Most CIC insurers cover over 40 illnesses, typically including heart attack, stroke, cancer, kidney failure, major organ transplant, coronary artery bypass surgery and multiple sclerosis.
BUILDINGS & CONTENTS INSURANCE
We can research Buildings and contents insurance for you to ensure that you have the most appropriate cover for your home and possessions at an affordable price. This service is normally used alongside the mortgage service however we will happily review any client’s current policies to check if you have sufficient protection in place should you ever need it.
Innovation Centre Highfield Dr, St Leonards, Hastings TN38 9UH
CONTACT US
Before you supply any personal details to us via this website please read our customer privacy notice information on our Privacy & Cookie Policy page.
This notice sets out how we will process your personal data in line with the General Data Protection Regulations. "GDPR has been incorporated into the UK Data Protection Act. Following Brexit, the UK enacted the Data Protection Act 2018" (Source). Once you have read the customer privacy notice, please tick to confirm that you have read it and that you agree to Porters Financial processing your personal information for the purpose of contacting you. We will not use the details you provide us in the contact page to market to you.