Insurance Overview
In addition to providing mortgage advice, we also offer advice on general insurance
products. For example, we may be able to help you if you are looking to protect
your monthly mortgage payments or if you want to insure the contents of your home.
Our advice and recommendation service extends to the following general insurance
products*:
- Mortgage Payment Protection Insurance
- Buildings Insurance
- Contents Insurance
Mortgage Payment Protection Insurance
Mortgage Payment Protection Insurance protects your mortgage repayments in the event
that you are not able to work due to accident, sickness or unemployment for up to 12 months.
We can arrange this type of insurance for you and explain what it does and how it
works.
Buildings Insurance
When you take out a mortgage, the lender will require that you have adequate buildings
insurance, which insures the property against damage.
If you are buying a freehold property then it is your responsibility to organise
this cover yourself. If you are buying a leasehold property (most flats tend to
be leasehold) then it is the freeholder's responsibility to arrange it, so make
sure that this has been done.
Contents Insurance
Contents insurance is often sold alongside buildings insurance. Lenders do not require
borrowers to take out contents insurance, however, it is highly recommended that
you do.
We can arrange this type of insurance for you and explain what it does and how it
works.
*Pink Home Loans provides advice on general insurance from a range of product providers.
Pure Protection Products (Life Assurance)
We also offer advice on pure protection products. For example, we may be able to
help you if you want to arrange life insurance or critical illness cover.
Our advice and recommendation service extends to the following pure protection products:
- Term Assurance
- Income Protection
- Critical Illness Cover
- Private Medical Insurance**
Term Assurance (Also known as life assurance)
With this type of cover you pay a regular amount of money for a specified time. In return, the insurance company agrees
to pay a sum of money if the insured person dies, but does not pay out if the insured person does not die.
Income Protection
This type of cover provides a level of income to meet your needs should you suffer long-term sickness or an accident that prevents
you from working, to help maintain your standard of living/mortgage payments for a specified period, for example, until retirement.
Critical Illness Cover
With this type of cover you pay a regular amount of money for a specified time. In return, the insurance company agrees to pay a sum of money if the insured
person is diagnosed with a critical illness. This policy does not pay out if the insured person is not diagnosed with a critical illness.
Private Medical Insurance**
This insurance is designed to assist with medical costs such as hospital charges, specialist's fees, diagnostics tests and radiotherapy/chemotherapy in the event of illness.
This policy will not pay out if the insured person does not become subject to medical fees during the term of the policy.
We can arrange all these types of insurance for you and explain what they do and how they work.
Pink Home Loans provides advice on pure protection products from a range of insurance providers.
**Pink Home Loans provide advice on private medical insurance from a single provider, Aviva.