Understanding Protection: Safeguarding What Matters Most
Protection isn't just a word; it's a promise to keep you and your loved ones secure when life throws curveballs your way.
Life is ever-changing—new homes, career shifts, and growing families are just a few milestones that could alter your protection needs. That's why it's crucial to revisit your coverage options, especially when you're making a significant financial move like getting a new mortgage.
The Essentials: Types of Protection
Life Insurance
Life insurance is more than a policy; it's peace of mind. It ensures that your family is financially secure, even if you're not around. While it's not mandatory for a mortgage, we highly recommend it, especially if you have dependents.
Critical Illness Cover
This policy is your financial backup if a critical illness strikes. It provides a tax-free lump sum that can be used to settle your mortgage or other expenses.
Income Protection
If illness or injury keeps you from working, income protection steps in, offering a financial cushion until you're back on your feet.
Mortgage Payment Protection
Also known as Accident, Sickness, and Unemployment Cover (ASU), this protection takes care of your mortgage payments for up to two years if you're unable to work.
Buildings and Contents Insurance
This insurance is your safety net against unforeseen damages like fires or floods. It's a must-have for mortgage approval, and we suggest you don't overlook the contents part either.
Mover Protection
If unexpected events disrupt your property buying or selling process, mover protection helps you recover the costs you've already incurred.
Important information
For insurance business we offer products from a choice of insurers.
Feel like you need a bit more guidance? We're just a call or click away. At Whiteoak Mortgages, we're all about putting you first. Reach out to us for tailored advice that suits your unique needs.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.