The type of insurance policy you might need depends on your situation and quotes can be provided from the biggest insurers in the UK.

A Life insurance policy will pay your dependents’ a lump sum or regular payments if you die unexpectedly. If you have a wife/partner &/or children, Life cover can provide you with the reassurance that they will be able to cope financially without you ie. the mortgage can be repaid in full along with any debts possibly ie. balances outstanding under credit card balances, personal loans and hire purchase agreements (car finance, etc).     

Critical Illness insurance should be considered as it provides cover should you unfortunately suffer a serious life changing condition ie. cancer, heart attack, stroke, etc. On diagnosis of one of the illnesses included in a policy,  a lump sum or monthly benefit can be paid out to you which can be used towards repaying a mortgage and towards other outgoings ie. private school fees, medical bills, etc. You should note that if you can survive the condition, the benefits paid out on the policy do not have to be paid back to the Insurer.  

Please click to view the Association of British Insurers (ABI) Consumer Guides to Critical Illness cover 

Income Protection ie. sickness cover insurance is designed to support you financially if you are unable to work  due to illness or injury causing your income received to drop. This type of policy is particularly relevant for anyone who is self-employed and will not receive any sick pay. An employed person should check their signed employment contract or contact their Human Resources department to establish what their sickness benefit entitlement is ie. Whgen do payments begin, how much will be received & when does the benefit end.   

You might consider short-term Income Protection insurance as it will pay out a monthly sum for up to 2 years maximum if you lose your source of income due to illness or injury. The cost of this policy type is cheaper than a policy which can have a longer payment period ie. until your current UK State retirement age.    

Please click to view the Association of British Insurers (ABI) about Income Protection i.e sickness cover

Unemployment cover for an employed person should be considered as the benefit payable under it will support you if redundancy means you cannot afford your your regular outgoings ie. mortgage, bills, etc

Along with arranging a mortgage, Avathan Mortgages Limited will also discuss your protection needs then provide you with a quote(s) for a recommended policy(s).