Life Insurance

Mortgage Protection

Your home is typically your biggest investment or asset. Should one of you pass away this insurance is designed to pay off some or all your outstanding mortgage. Its important to keep this insurance in place for the life of your mortgage product. Even if You move homes and take out a larger mortgage just take out another policy as this will typically be cheaper rather than a brand-new policy. This type of policy is known as decreasing Term, as you pay your mortgage off the sum you owe the lender slowly decreases, the Life typically matches this.

Family Cover

Since one in 29 children will lose a parent by the time they’re 18 it’s a scary statistic. The family cover does just that, it’s known as Level Term Insurance and is designed to provide a lump of cash to the family, this could be to replace an income, pay bills, pay off some or part of the mortgage to change lifestyle. The last thing a family should be worried about is money when they are faced with grief from the loss of a parent/spouse/partner.

Whole Life Cover

Many life insurance policies will protect you up to the age of 90 years, which is above the average, however for that extra protection you can get a policy that will protect you for the whole of your life, it does cost considerably more and is often used for Inheritance tax protection. Talk to one of our advisors to understand the benefits and disadvantages of Whole of Life.

Critical Illness

Critical Illness cover (or serious illness cover) can pay you an income or lump sum based on the diagnosis of a covered illness. Most policies will cover cancers, and heart disease but it’s very important to read the small print of what is actually covered especially if your family has a history of a specific type of cancer for example. Today’s statistic is that 47% of us will get some form of cancer during our lifetime, this is a worrying statistic. Receiving an income or a lump sum may protect your home, pay bills, and may well indeed offer (in the form of cash) a lifestyle change to cope with the disease.

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3Q Financial Limited
60 Barbados Road,
Bordon, Hampshire
GU35 0FX

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