Life and Critical Illness

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The Importance Of Protecting Your Loved Ones

“Insurance Coverage for Critical Illness and Life Events”

Buying a house is one of the biggest financial decisions a person makes in their lifetime. It’s more than simply an investment; it’s a place where you build a life and make enduring memories. It’s important to think about how you can safeguard your house and your finances as you assume this significant responsibility. We’ll discuss the value of critical illness insurance and mortgage life insurance in this article, along with the reasons you should think about getting covered.

Mortgage Life Insurance: Safeguarding the Future of Your family home.

Mortgage life insurance, also known as mortgage protection insurance, is intended to give your loved ones financial stability in the unfortunate event that you pass away too soon. Here are some strong arguments in favour of thinking about this kind of coverage:

Protect Your Loved Ones: If the worst were to happen, mortgage life insurance can help your family pay off the remaining mortgage balance, ensuring they can stay in their home without the burden of monthly payments.

Peace of Mind: Knowing that your family’s home is secure even if you’re no longer there to provide for them can offer tremendous peace of mind. It’s an important step in estate planning.

Easy Application and Affordable Premiums: Mortgage life insurance is generally easy to obtain, and the premiums are often quite affordable. You can tailor the coverage to match your mortgage balance.

Happy young parents pushing carton box with kid in new mortgage apartment.

Flexibility: You can choose between different types of mortgage life insurance, including term and permanent policies, allowing you to customize the coverage to your needs and budget.

Critical Illness Coverage: Protecting Your Financial Well-being

Critical illness insurance is another crucial aspect of safeguarding your family’s financial stability. This type of coverage provides a lump sum payment if you’re diagnosed with a severe medical condition, such as cancer, heart disease, or stroke. Here’s why critical illness coverage is worth considering:

Financial Protection During Illness: Dealing with a critical illness can lead to significant medical expenses and loss of income due to time off work. Critical illness coverage can provide a financial cushion to cover these costs.

Choice and Control: The lump sum payment can be used for a variety of purposes, such as medical bills, mortgage payments, or even a much-needed vacation to aid in recovery. You have control over how you use the funds.

For critical illness comparison, visit www.mortgageoptionsni.co.uk

Supplement to Health Insurance: Critical illness insurance complements your health insurance by providing additional financial support that can be used for non-medical expenses.

Tailored Coverage: You can choose the illnesses you want to be covered for, allowing you to customize your policy to fit your specific needs. The following is a list of illnesses covered.

Critical illness	Definition
Aorta graft surgery	requiring surgical replacement
Aplastic anaemia	with permanent bone marrow failure
Bacterial meningitis	resulting in permanent symptoms
Benign brain tumour	resulting in either surgical removal or permanent symptoms
Blindness	permanent and irreversible
Cancer	excluding less advanced cases
Cardiac Arrest	with insertion of a defibrillator
Cardiomyopathy	of specified severity
Coma	with associated permanent symptoms
Coronary artery by-pass grafts	with surgery to divide the breast bone or thoracotomy
Creutzfeldt-Jakob disease (CJD)	resulting in permanent symptoms
Deafness	permanent and irreversible
Dementia including Alzheimer’s disease	of specified severity
Encephalitis	resulting in permanent symptoms
Heart attack	of specified severity
Heart valve replacement or repair	with surgery
Kidney failure	requiring permanent dialysis
Liver failure	of advanced stage
Loss of hand or foot	permanent physical severance
Loss of speech	total permanent and irreversible
Major organ transplant	from another donor
Motor neurone disease	resulting in permanent symptoms
Multiple sclerosis	where there have been symptoms
Multiple system atrophy	resulting in permanent symptoms
Open heart surgery	with median sternotomy
Paralysis of limb	total and irreversible
Parkinson’s disease	resulting in permanent symptoms
Primary pulmonary hypertension	of specified severity
Progressive supranuclear palsy	resulting in permanent symptoms
Removal of an eyeball	due to injury or disease
Respiratory failure	of advanced stage
Spinal stroke	resulting in symptoms lasting at least 24 hours
Stroke	resulting in symptoms lasting at least 24 hours
Systemic lupus erythematosus	with severe complications
Third degree burns	covering 20% of the surface area of the body or 20% of the face or head
Traumatic brain injury	resulting in permanent symptoms

Children’s Critical Illness Cover at a glance:

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Eligibility	Natural, legally adopted and stepchildren, as well as any children the policyholder may have in the future. The child is covered from when they are 30 days old to their 18th birthday (or 21st birthday if they are in full time education).
Waiting period	If a child is diagnosed with one of our specified critical illnesses during the term and survives for 14 days after the date of diagnosis and is eligible to claim, the relevant amount of cover is paid.
Benefit level	The maximum payable for a child meeting the definition of a critical illness is up to £25,000 or 50% of your amount of cover, whichever is lowest.
Claims	Only one claim can be made per child. We will pay claims for a maximum of two children. No payment is made on death. Any claim under Children’s Critical Illness Cover does not affect the original amount of cover under the main plan.
Exclusions	The child’s condition is present at birth The symptoms first arise before the child is covered; or The child dies within 14 days of meeting the definition of the critical illness

Purchasing a home is a significant milestone, and protecting it should be a top priority. Mortgage life insurance and critical illness coverage are two valuable tools that can provide financial security for your family and ensure that your home remains a haven, even in challenging times. By considering these insurance options, you’re taking a proactive step towards securing your family’s future and easing your own peace of mind.

Before making any insurance decisions, it’s essential to consult with a trusted insurance advisor: https://mortgageoptionsni.co.uk/mortgages-insurance/who can help you assess your specific needs and find the right policies to protect your home and your health. Don’t wait; invest in your family’s future security today.

contact https://mortgageoptionsni.co.uk/contact/

Antrim and Ballymena Mortgage Brokers

At Mortgage Optionsni, we are here to help to find you the best mortgage available for your budget. As Antrim leading mortgage brokers, make us your one-stop shop for qualified and intelligent mortgage advice in Antrim.

We are experts in our field, and we will provide you with unbiased guidance. Whilst helping with the course of action for your budget, needs and circumstances.

Free Credit Check Report

We can run a credit check across a multitude of agencies at the same time, allowing us to see what prospective lenders can see. This then allows us to find a lender to suit your circumstances and budget.

For more details, contact our office today. at www.mortgageoptionsni.co.uk/contact/

Mortgage Advice in Antrim & Ballymena

By using our company as independent brokers, we have access to over 72 lenders and 13,000 different mortgages. You can be assured that we will be able to get you the best mortgage deal available.

Finance Advice & Financial Services

We have an extensive range of financial services, including insurance-protected loans for both residential and commercial clients. If you’re in Ballymena Antrim Northern region of Ireland and need further information on financial

First-Time Buyer Mortgages:

As a first-time buyer, we should be your first port of call. Here, you will learn about the different types of mortgages we are able to offer. We are here to offer the best financial guidance through the whole home-buying process.

Remortgage:

A remortgage is when you move from one home mortgage lender to another home mortgage lender for the best mortgage rate. We will be able to work with you to check the terms and conditions.

Buy to Let:

This is for those who want to become a landlord and buy a property to let out, although the rules around buy-to-let are different. There are certain factors such as a higher deposit will be required by the lender and the maximum you will be able to borrow is linked to the expected rental return of the property.

We are able to guide you and also work with you to get the best options.

Co-Own:

This option is mainly used to help clients get onto the property ladder, or for those looking for long-term financial investment by buying a share in a property.

We can offer this service, you can buy a share of whatever you can afford between 50% and 90%.

Repayment Mortgage:

A repayment mortgage is a popular choice for most borrowers as you’re paying off both the interest and capital at the same time.

Interest-Only Mortgage:

It’s a cheaper repayment option as you are only paying off the interest on the loan. Although at the end of the mortgage term you will need to pay off as a lump sum the balance owing.

Mortgage Protection Insurance Advice

We work with the best-known and most reputable insurers not just in Northern Ireland but also in East England South England, Central England and the far reaches of Scotland.

We compare the benefits and features of all these different insurers to get you the best deal available.

FAQ

Why choose a broker over a bank?

A mortgage broker works with many different lenders. As the leading mortgage brokers in Antrim and the surrounding areas, we are able to offer many more options than your local bank.

How much should I spend on a home?

A good rule of thumb would be not to have mortgage repayments over 28% of your gross monthly income. Your gross monthly income is what you bring home before any taxes have been paid.

You must also take into consideration any other financial credit agreements you might have. One of our professional consultants can sit down and review any finance agreements you might have.

Is it easy to get a loan?

There are certain criteria that have to be met such as do you have a stable income, how much the deposit you have, and debt to income ratio. It’s also important as a borrower you have a good credit rating.

Review what our Clients say

We would like to take this opportunity to thank our clients for all the wonderful reviews they have left for us. It means such a lot to our hard-working financial advisers. These reviews can be read on our website www.MortgageOptionsni.co.uk.

Get In Touch

If you need further help or info, please telephone our office 02825 898625 or use info@mortgageoptionsni.co.uk to email us. Talk to a knowledgeable mortgage adviser at Mortgage Optionsni who will happily answer any questions or queries you may have.

Our Opening times are, Monday to Friday 10.00 am to 5 pm, and Saturday 10.00am to 13.00hrs

We look forward to being of assistance to you soon.

Antrim and Ballymena Mortgage Brokers

We are experts in our field, and we will provide you with unbiased guidance. Whilst helping with the course of action for your budget, needs and circumstances.