Accident, sickness and unemployment cover

With accident, sickness & unemployment policies, which can  also be referred to as mortgage payment protection,you pay for an amount of monthly cover and  the policy will provide you with an income to meet your outgoings if you are off work sick, have an accident or are made redundant. It pays out a monthly benefit to cover your mortgage and other related costs. Policies usually pay out for up to a year or until you return to work, whichever happens first. It also usually pays a cash lump sum if you die or become disabled during the policy.

Pros

• Worth taking out if you’ve taken out your mortgage or re-mortgage after October 1995, as you are unlikely to get any help from the state with your mortgage payments if you get into trouble.
• A good idea if you think making your mortgage payments would be difficult if you were made redundant or too ill to work and you don’t have any other protection to cover household bills.
• May be useful to think about if you don’t have a job which has sick pay or you are self-employed

Cons

• It covers only a specific debt – your mortgage, so you won’t have extra money to provide for other things like food, clothing etc.
• Can be expensive
• These types of cover pays for a limited time period, typically 1 to 2 years or until you return to work.

Whilst the concept is fairly straight forward the different companies offer a myriad of different policies with different inclusions and exclusions. Radical Financial Services have the expertise to guide you to the policy that fits your personal and business needs with Impartial, Independant advice.

Henry and Steve will be more than Happy to discuss your requirements with no obilgation, Please call us on 01384 566 588 or e-mail us at info@radicalfs.co.uk