Accident Sickness and Unemployment Insurance
Protect yourself and your family
What is Accident & Sickness Insurance?
Accident & sickness insurance is a short term income protection policy which would supply you an income should you not be able to work due to an accident or sickness.
Therefore, giving you the peace of mind of knowing that in these events your mortgage payments will be made and your home will be safe.
How much will I recieve each month?
Importantly, accident & sickness insurance does not replace your total monthly income.
A policy of this kind is designed to supply a specified monthly amount giving you the reassurance that your mortgage payments can be met and avoiding running into an adverse credit situation.
What will I be covered for?
Keeping it simple, a policy of this kind will cover you for any accident or sickness where you are unable to work for at least 30 days.
Importantly, the accident & sickness part will not cover any pre-exiting illnesses for the first 12 months of the policy.
How long will I receive payments for?
Accident & sickness policies can pay out for different defined periods & can also be claimed on multiple times. Ensure you speak to your advisor who will advise you of the most suitable option to suit your needs.
I'm Self-Employed. How much will I receive?
Being self-employed you can still have an Accident & Sickness policy to cover the unexpected.
However, any claim is usually calculated based on your previous 12 months personal income. The claim will need to be supported by supplying your latest HMRC tax calculation accompanied with recent business bank statements. Or by way of confirmation from your suitably qualified accountant.
Nobody can predict what will happen in the future. That’s why taking out a suitable mortgage protection can give you the security of knowing that if the unexpected happens, you are prepared for it. Many standard mortgages do not have any protection insurance included, so it’s important to decide what kind of separate coverage you will need.
LSR Mortgages does not deal directly with General Insurance Products. Your details will be passed on to one of our trusted associates for specialist advice and applications.
Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.