Family Protection Family protection, also known as level life insurance or whole of life insurance, pays out a lump sum upon your death; with level life term assurance it will only pay out if you die within the term agreed on your policy whereas a whole of life policy will cover you for your whole life and will pay out whenever you die. The main difference between the two types of life insurance, other than the term length, is the price of the premiums. A whole of life policy is generally a lot more expensive than level life insurance due to the fact that it is guaranteed to pay out. Furthering this, the longer your level life insurance term is the more expensive the cover will be due to...
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Protecting your mortgage is an important consideration when you buy a house. It might not be the happiest of concepts, but it could make a huge difference to your loved ones. Known as mortgage protection life insurance, or decreasing term life insurance, it is a popular type of insurance to help cover the cost of your mortgage if you were to pass away. Mortgage protection life insurance is designed to provide financial support to your family, so they can pay off the mortgage if you were to pass away. It is important to remember that this is suited to a repayment mortgage, not an interest-only mortgage. How to get mortgage protection insurance Mortgage protection insurance can be incredibly...
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What is it? Life insurance is the most basic type of personal insurance – it pays out if you die, it is as simple as that. The proceeds are paid out tax free, but could be subject to Inheritance Tax before they are passed to the beneficiaries, however you can control where the money ends up by use of trusts and this can help to mitigate such Inheritance Tax. It comes in a variety of shapes and sizes – reducing cover to clear a mortgage, level or increasing to produce an extra lump sum to cover other family needs or even paid out a bit each month to replace the income lost following death. It can be arranged on a joint or sole basis. It is fully medically underwritten when the...
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Whether it’s your first mortgage or you’re renewing, there’s a lot of value in getting some form of life insurance. It’s vital to ensure your mortgage is paid for should you or your significant other pass away. However, you’ve spent a lot of time looking for the right house or finding the best mortgage rate, so don’t rush the insurance decision. It could be a costly financial mistake. Let’s look at two different ways to make sure your mortgage is paid after death and which of them is a smarter financial decision. We’re looking at mortgage insurance vs life insurance. Motgage insurance vs life insurance: In short, mortgage insurance is a type...
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Mortgage protection insurance sales Are you someone who has the ambition and drive to make 100k/year but lacking the right opportunity? Are you accountable, teachable and posses a positive mental attitude? If you are that person then we are looking for you!! Symmetry Financial specializes in selling mortgage protection (life insurance with living benefits to homeowners) final expense and retirement planning. With mortgage rates at an ALL TIME LOW we are being flooded with requests to protect families. For the FIRST TIME in our company history we are actively hiring licensed and NON LICENSED AGENTS who have a strong sales background to join our team!! All of training is company sponsored...
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Beware the mortgage insurance hard sell: Homebuyers wrongly told they can only get a home loan if they buy life or income protection cover Over three in 10 borrowers were told life insurance is a legal requirement Buildings insurance is the only cover that's mandatory when taking a mortgage More than half of those sold income protection insurance with their mortgage were told it was mandatory Homebuyers are wrongly being told they can only get a mortgage if they buy life insurance or income protection cover. Research for Money Mail reveals more than three in ten borrowers have been told life insurance is a legal requirement, while a further third say they were advised that they couldn't...
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Why Buy Scottish Widows Mortgage Protection Life Insurance? If you have a partner, loved ones or dependents who rely on your income, and the house you live in is covered by a mortgage, then making plans as to how it will be paid in the event of your death is crucial. The solution to this problem is Scottish Widows mortgage protection insurance. Scottish Widows Mortgage protection insurance, also known as mortgage life insurance and decreasing term life insurance, is designed to repay the outstanding balance of a standard repayment mortgage if you were to die during the period of cover. This means your family won't have to worry about continuing to pay the mortgage following your death. What...
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Advice: HIV-Friendly Mortgage Protection/Life Insurance Nick McGowan of online life insurance broker, lion.ie, gives his top tips for getting mortgage protection and insurance if you’re a person living with HIV Earlier this year, news broke that a patient in London was cured of HIV, following a bone marrow transplant. It comes more than a decade after Timothy Brown, the ‘Berlin patient’, made history as the first person to be ‘cured’ of the disease. Both cases have been widely celebrated, as they represent great hope for the 37 million people living with HIV around the world. For decades, the virus was a ruthless killer, savaging entire communities. Thankfully, we’ve...
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Mortgage Cover or Mortgage Protection Cover? By Michelle on July 14, 2016 Your home is probably one of the biggest financial investments that you will make. So how do you make sure that your family can stay in it if anything should happen to you? New Zealanders have over $200 billion in mortgages - according to the Reserve Bank of New Zealand in 2015. And for many kiwis, having mortgage makes them think about who is going to keep the payments going if anything happens to them, or their partner. In New Zealand, there are two main options to protect our families and ourselves: Mortgage cover works by paying off the outstanding principal balance of your mortgage should you die, up to a...
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What is Mortgage Life Insurance Protection? Purchasing a home for the first time is a monumental milestone for most people and mortgage life insurance protection can provide piece of mind so loved ones can stay in the home in the event of a premature death. When you peel back the onion most “mortgage protection” is a level term life insurance product for the borrower’s loan amount. The home is one of the largest purchases people make which means the mortgage is typically people’s largest financial obligation. Mentally it is an exciting and stretching time for people with new emotions emerging, especially with the bombardment of mortgage protection letters in the mailbox which can make...
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