For richer, for poorer, in sickness and in health…
Insurance for you, your family and your home
It’s hard enough trying to predict the weather, let alone what life in general has in store for you, so it makes sense to protect it. Whether it’s you, your family, your income or possessions, making sure you have adequate protection for those rainy days provides much-needed peace of mind for you and the family.
At Dezrez Mortgages we will discuss your protection needs for mortgage debt and/or lifestyle protection.
There is no, one fits all policy and everything we do will be tailored around your individual needs and requirements to make sure you are covered as best as possible for any of life’s eventualities, working closely with insurers to offer a range of products to help protect you and what is likely to be your largest financial commitment.
Family Income Benefit
Family Income Benefit (FIB) is a life insurance policy providing regular financial support to your loved ones after your death. Unlike traditional life insurance, FIB pays a tax-free monthly income to beneficiaries instead of a lump sum. This stable income helps maintain their living standard and cover essential expenses like mortgage, bills, education, and daily living costs. FIB is especially valuable for families with dependents, ensuring ongoing financial stability and support during challenging times.
Income Protection
"It won’t happen to me" Most people feel invincible until it actually happens to them and realising the prospects of living of £109.40 pw statutory sick pay for people won’t be enough to cover your mortgage and basic overheads, meaning they would have to use any savings to sustain this period. Having an Income protection policy (IP) could provide up to 65%* of your income should you become incapacitated and unable to do your job, providing a tax-free monthly benefit until your are able to return to work or retirement age provided that safety net that your monthly commitments towards mortgage and bills should be covered. (*Note: Statutory sick pay figure of £109.40 per week is accurate as of Apr 2023.) (* % are approximate and depends on the insurer)
Critical illness
"I won't need that" Critical illnesses (CIC) can affect anyone, cancer, stroke, heart attack, mental health issues, diabetes to name some common ones and in such situations, having the correct cover becomes invaluable to reducing the financial burden on you and your loved ones. If you were diagnosed and forced to stop working to recover from an illness or operation, the payout from the cover could be utilised to support your mortgage and everyday expenses, or in more serious cases to pay for treatment, physiotherapy or changes around the house to accommodate wheelchair access for example.
Life Insurance
Life insurance is essential for protecting both your mortgage debt and your family's financial future. In the event of your untimely death or terminal illness, life insurance provides a safety net to ensure that your loved ones are not burdened with the financial responsibility of the mortgage. The death benefit from the life insurance policy can be used to pay off the outstanding mortgage, relieving your family from the stress of making mortgage payments and preventing the risk of losing their home.
