Accident, Sick & Unemployment

Mortgage Payment Insurance:

Accident & Sickness (Disability) Cover

This is designed to help you meet your mortgage payments if you are unable to work for a period of time due to sickness or accident. This would normally pay out a monthly sum sufficient to cover the mortgage payment and associated costs for a defined period of time, usually 12 months at a time, sometimes as long as 24 months.

The deferred period can be altered to take into account any employers sick pay benefits that you may have. 30, 60, 90 and 180 day options are available.

Unemployment Cover

This type of cover will pay a monthly sum should you become unemployed, through no fault of your own. It works in a similar manner to Accident & Sickness cover.

Both Accident & Sickness and Unemployment cover can be combined into a single policy.

Income Protection

Income Protection is intended to insure your income (i.e. a higher amount of cover than is available under a normal accident or sickness policy) should you be unable to work to accident, sickness or disability.

The two other main differences are that it can be taken out irrespective of whether there is a mortgage to protect and cover would often pay out for full term (ultimately this could be a continuous payout until retirement age so a very long period of time).

In addition there are numerous other options available such as indexation (so the benefit has the same ‘buying power’ in the future), deferred periods from 4 to 104 weeks and split benefit periods. Cover can also be taken at reduced levels or so that it will pay out for a shorter period and thus the cost of cover is considerably reduced too.

Please call us so that we can talk you through the options.

Beds & Bucks 01525 877650

Herts 01422 252040

Mobile 07710 770969

or email: advice@sbms-online.co.uk