In other words, if the policyholder(s) die prematurely, the outstanding loan amount on the mortgage will be repaid in full.
Some policies have rider benefits, which are extra sorts of cover, added on to the principal life cover. Such benefits include:
Waiver of premium benefit - the premiums are in effect paid for you in the event of defined incapacity due to illness
Income protection benefit - a percentage of your income is paid to you if you cannot work at your usual employment
Unemployment benefit - a variety of income protection benefit
Critical illness cover - the benefit is paid before death on the diagnosis of a potentially life threatening disease (e.g. cancer). This benefit may replace the death benefit, or it may be paid as well All these riders cost extra and are only paid subject to meeting tight criteria.
THE POLICY MAY NOT COVER ALL THE DEFINITIONS OF A CRITICAL ILLNESS. FOR DEFINITIONS PLEASE REFER TO THE KEY FEATURES AND POLICY DOCUMENT.
THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
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WHAT CAN WE DO FOR YOU?
Our mainstream service is to act on your behalf for the purpose of arranging and advising on the following:
Personal & Family Protection, for example a Life Assurance or Critical Illness Plan;
Mortgages, including Buy‐to-Let - Releasing equity from your home (Equity Release);
For all the services described above we will complete a detailed fact find so we can understand your circumstances, specific needs and objectives.
Following our research we will provide a personal recommendation(s) for you to consider. With your agreement we will then implement our recommendation(s) and arrange any products on your behalf.
Ultimately, whichever type or level of service you require from us we will act in your best interests at all times.
More than just a Mortgage Company
We are a firm of mortgage specialists based in West Yorkshire, with advisers also located throughout the North of England.
We provide advice to both individuals and companies on certain aspects of financial planning, through a long term approach of fully understanding our clients' needs, wants and aspirations and then prioritising objectives. As advisers, we can help you arrange suitable contracts to suit your requirements. We have many years of experience in finding the most suitable solution for our clients' needs.
We provide advice and help following a personal / business financial review which can take place at a convenient time and place. Usually a review will start with a very broad discussion of your concerns and aspirations.
Following your initial review, we will take time to consider your situation, needs and priorities before writing a financial report. We will discuss this in a follow up meeting, or call, in which we'll fully explain our recommendations and agree affordable priorities to assist you in acheiving your objectives.
Why choose us?
We work with many different companies throughout the UK. Some may be your local branch and others are National companies
and we will search to find you the right one.
Time for a change?
Whether you are first time buyer, looking to re-mortgage or are even up & down-sizing, we have experienced mortgage advisors on hand to help you make the right decision.
Very well trusted
We have helped literally thousands of clients over the years and we pride ourselves in getting to know each and every one of them. So look no further than Square Financial and call us today