Insurances

Why do you need insurance?

You quite often hear the phrases ‘I don’t need that insurance’ or ‘if you have too many policies you can be over insured’.  But have you ever considered why you may need certain insurance policies in place and whether you can really afford not to have them?

It’s true that maybe not all people need all insurances, but when you’re buying a property or reviewing your finances, it’s definitely worth looking at the different types of insurance policies available and asking yourself ‘do I need it’?  After all, it doesn’t cost anything to do your homework and get some quotes from us. You never know, in the long run, you may be thankful that you did.

Where to start

The first thing to do when considering insurance is to work out a manageable budget that you can afford and would be happy to pay out each month for insurance.  Once you have a figure in mind, you can start looking at your options.  

How we can help

Chase Mortgage Services can help you with this by working out a budget with you and then reviewing insurance policies from a whole range of insurers. We’ll find the most competitive quote we can for you, ensuring you get a policy that suits your needs and circumstances at that time.  

We can help you with

• Buildings Insurance – A policy that protects the structure of your home in the event of damage.
• Contents Insurance – A policy that provides protection for the contents of your property and personal possessions in the event of damage
• Mortgage Payment Protection Insurance (MPPI) also known as Accident Sickness and Unemployment (ASU) – A policy which will pay a sum each month should you not be able to work due to an accident, sickness or unemployment.  Usually a short term policy.
• Accident and Sickness Insurance – As above, but unemployment isn’t covered.
• Unemployment Insurance – As above, but accident & sickness isn’t covered.
• Income Protection Insurance, also known as Private Health Insurance (PHI) – A policy to give a regular income if you’re injured or too ill to work.  Usually a long term policy.

Life protection

• Level Term Assurance – A policy that provides a guaranteed lump sum to be paid on the death of the life assured.
• Mortgage Protection – Similar to above, however, it will only pay out the amount of the mortgage balance outstanding at the time of death.
• Family Income Benefit – A policy where the benefits are paid by way of regular income (rather than a lump sum) on the death of the life assured.         Critical Illness Cover – A policy designed to provide protection in the event of a diagnosis of one of a range of specified illnesses or conditions.
• Private Medical Insurance – A policy designed to provide help with costs of medical treatment.  Can include both in-patient and out-patient treatment and will generally result in speedy attention, appointments and treatment.

If you’d like to know more about any of these, please don’t hesitate to contact us and we’ll be happy send you a free guide or talk you through them.

For queries on any of the insurances, please contact us on 01889 576761 or email us at enquiries@chasemortgageservices.co.uk