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Mortgage Protection

mortgage-protection-keighleyA Mortgage is a big commitment, you don’t want your family having to worry about how they are going to make the repayments.

Having some Mortgage protection could help pay of the mortgage if you died during the length of your policy.

At Airedale Commercial Finance we can advise you on the cover that is more suitable for you based on your circumstances.

To get a better understanding of the policies here is a Brief Overview

What Is Mortgage Life Assurance?

Mortgage Life Assurance is designed to pay off the remaining mortgage debt on repayment mortgages if you die within a set period.

It ensures your dependents needn’t worry about repaying the mortgage if you die. Its full name is Mortgage Decreasing Term Assurance (MDTA). The reason it is ‘decreasing’ is because your outstanding mortgage debt, and therefore the potential payout, decreases over time.

Should I take this cover ?

Most lenders strongly recommend you get a policy when you take out a mortgage. It is useful protection and, if done correctly, should not be too expensive.

How Much Does It Cost?

Mortgage Decreasing Term Assurance (MDTA) has no investment element as the payment covers the balance of the mortgage you have taken out. .Premiums are based age, sex and whether you are a smoker or not. Being an ex smoker that hasn’t smoked for more then a year can greatly reduce your premiums, speak to us as we may be able to reduce your premiums .

Your occupation also plays a major part in the premiums being quoted as someone whose occupation as an Electrician will be a lot greater then someone who works in an office.

Consider writing in trust

If you die the life assurance payment will then form part of your estate. This may make the value of your estate liable to Inheritance Tax. In many cases you can avoid this by writing the policy in trust – which means the payment goes direct to your dependents, avoiding inheritance tax. Speak to us and we will do the rest.

Trusts are not regulated by the Financial Conduct Authority

Accident Sickness Unemployment Cover (ASU)

What is ASU ?

ASU stands for Accident, Sickness and Unemployment insurance. If you are unable to work due to an accident, suffer a period of sickness or become The policy will pay out to cover your monthly outgoings for up to 24. This policy is also applicable to people who are self employed.

Am I eligible for cover?

Cover is available if you have been in continuously employment for more than 6 months. The policy is for aged between 18-64 and are not aware of any knowledge of impending unemployment.

Are there any restrictions to the number of claims I can make?

There are no limits to the number of times you can claim. Each claim, however, will normally be subject to expiry of the Waiting Period and at least 6 months continuous employment.
We can research the market for you and find the most appropriate and cost effective policy for you so do not hesitate to contact us on 01535 340010 or alternatively fill in the enquiry form below and one our advisers will be in touch.

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