Do you want to ensure that financial dependents can remain in your family home in the event of your death or suffering a critical illness?
Mortgage Protection is a life insurance policy which pays out a lump sum of money in the event of death and/or being diagnosed with a specified critical illness. This money can be used to fully repay your outstanding mortgage.
If you or your financial dependents would suffer financially in the event of the mortgage payer’s death or critical illness then probably, yes.
That depends. Some people will use their work’s life cover (also know as Death in Service Benefit) to ensure that their mortgage would be repaid or reduced in the event of their death. Others prefer to have a policy set-up independently from their workplace so as to ensure that if they change jobs or retire, they still have a policy in place specifically designed to protect their mortgage.
We would look at your existing provision to confirm its suitability for your current needs and make recommendations accordingly.
How would your mortgage payments be maintained in the event of your death or suffering with a critical illness such as a heart attack, stroke or cancer?
Do you want to ensure that financial dependents can remain in your family home in the event of your death or suffering a critical illness?
We recommend Mortgage Protection to individuals and couples for whom a need has been identified. We understand that when you’re young and healthy the last thing you might imagine is premature death or suffering a critical illness. The reality is that people rarely diarise a time to die. To put it another way, you wouldn’t expect to buy a new car insurance policy after a car crash and expect them to accept a claim.
For mortgage protection we typically recommend protecting all borrowers for the amount and term of the mortgage. For example, a £300,000 mortgage for 20 years could be protected by a Mortgage Protection Policy with a sum assured of £300,000 and a policy term of 20 years.
The cost of life insurance is typically cheaper when one is younger and in good health. As we get older and start to have more medical complications, the cost tends to rise. Contact us today for a no obligation indication on cost.
We do not usually charge a fee for advice and arranging an insurance product. We will receive a commission from the insurer and this is reflected in the premium amount you pay them. All commissions would be disclosed to you before agreeing to proceed.
Have a look, then contact us with your quotation to see how competitive we are.
Plato Financial Services only recommend the UK’s leading Life Insurance providers based on great customer service, strong track history for claims payouts and competitive premiums.
Buying online without proper advice runs the risk of setting up the wrong policy and / or not setting it up in the correct manner. This could mean that any payout could be subject to tax and / or not paid out in a timely manner.
Does your existing mortgage protection plan meet your current objectives?
IMPORTANT
Protection plans with no investment link 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. Tax planning is not regulated by the Financial Conduct Authority. Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.
We are insurance intermediaries offering products from a range of insurers based on a fair and personal analysis of the market for Life Assurance, Critical Illness Cover and Income Protection Insurance.
We’ll discuss and help identify your protection needs and recommend solutions for any shortfalls you may have. We have over 20 years’ experience in helping people create financial security and have peace of mind for life’s less fortunate events.
We understand the delicate nature of discussing death and ill heath and know how important it is to do so in a considerate manner.
We’ll help ensure that your life policy is written in the correct manner which means that any claim is paid out in a timely manner, tax efficiently, and to the correct people.
Deniz & Plato offers the very best financial planning advice which is backed up by a wealth of experience.
Claire Bassett
senior buyer
So happy to have met Deniz who helped me plan to buy my own home. I thought I'd have to rent for the rest of my life. Thank you!
Allison pal
catering manager
Deniz has made buying our first home an absolute breeze. He was on hand to answer all of our questions, kept on top of everyone else involved, and made sure we were always up to date on progress. If I could give more stars I would!
Amy Mason
head of product
I cannot recommend Deniz and Plato Financial Services highly enough! As a first time buyer I had very little knowledge of how to go about securing a mortgage and buying a house, but Deniz was there every step of the way with calm and friendly advice, going above and beyond from start to finish.
lucy kirk
creative & photography manager
We got in touch with Plato Financial Services one year ago, with the idea of buying a house using shared ownership or other similar schemes. Thanks to their support and expertise we finally managed to buy our house outright, we are of course very happy with that. So our experience with them is absolutely positive and we recommend them to all aspiring homeowners.
Alberto Sardanu
Shipping manager
Deniz could not have been more helpful. He went above and beyond to a ridiculous degree. I have recommended him to every single one of my friends, and I recommend him to you too, dear stranger. You will be so glad.
Dr. Christine campbell
Associate Lecturer in Psychology