Reliable Protection & Insurance Advice
Based in Kings Heath, covering the whole of the UK
Protection Advice in Kings Heath
We are here to help you protect the things that are important to you
We want to make sure that your home and income are secure for you and your family if you are unable to work due to sickness/accident, diagnosed with a specified critical illness or suffer a premature death.
We do not charge a broker fee for this element of our service, we will provide you with a free insurance review using our network of insurance providers to design the right insurance portfolio that fits your budget and personal circumstances.
Where appropriate we will put the protection products we have recommended into trust, to ensure that if you die the proceeds of your estate are received by your designated beneficiaries in a timely manner.
You may have existing protection cover in place and in this case we will undertake a review to ensure that your level of protection is adequate and appropriate and that your premiums affordable as your personal or family circumstances may have changed since taking out your policy(s).
Critical Illness cover is constantly changing, so where you have critical illness cover, we will provide you with an in depth report which allows you to compare your existing cover with the latest cover available on the market
How can we help?
Life Insurance
Life insurance is commonly used to protect a mortgage. Where used for this purpose it is set up to pay-out a lump sum payment to repay a mortgage in full if the policy holder dies within the term of the policy. Terminal Illness cover is usually included which means the insurance company pays the benefit out upon diagnosis of a specified terminal illness where the policyholder is expected to die within 12 months.
Family Income Benefit
This type of insurance cover is designed to provide a monthly tax-free income to the household if a policy holder dies during the term of the plan. The income will remain for the rest of the term, typically until children are no longer dependent, making sure that the family you leave behind are able to sustain their current lifestyles.
Income Replacement Cover
An income protection policy typically pays out up to 65% of your salary as a tax free (tax year 2019/2020) regular monthly income if you are unable to work due to sickness or an accident. It will give you peace of mind that having a regular on-going income will be received to help you maintain your current lifestyle and pay your mortgage, until you are fit to do so or until your policy expires.
Critical Illness Cover
This type of cover can be used to protect your mortgage, income and lifestyle against the financial consequences of you suffering a defined critical illness such as a heart attack, stroke or cancer during the term of your policy. The cover can also include children’s cover, which will pay out a lump sum (usually a proportion of the adult benefit) on diagnosis of your child suffering from a defined critical illness.
Keyman/Person Insurance
There are several types of key person policies that cover different situations. Some cover the death or critical illness of a key staff member and others cover the death of a significant shareholder in the organisation.
Pay-outs are typically designed to cover re-organisation costs, repay outstanding financing, pay staff recruitment and training costs as well as purchase shares from the estate of a deceased shareholder.
Policies can also include accident and sickness protection that pays a benefit if a key person is absent for a prolonged period due to illness or an accident.
Relevant Life Insurance
Relevant life is a life insurance policy available to employers to provide an individual death-in-service benefit for an employee. It can help smaller businesses attract and retain high-calibre staff by offering them attractive benefits packages that are also tax efficient. It can also be a tax-efficient way for shareholder directors to take out life insurance although this should not be used for business succession planning.
Business Loan Protection
This type of cover is designed to cover any loans or finance the business has taken out over time, such as a mortgage on the property you trade from or a loan you have taken out for machinery or stock etc. Terminal Illness cover is usually included which means the insurance company pays the benefit out upon diagnosis of a specified terminal illness where the policyholder is expected to die within 12 months.
Shareholder Protection
This type of plan is designed to help ensure that if a shareholder, Director or Partner were to die, the business would have enough money to buy the shares back from the beneficiaries under a pre-written agreement. The benefit of having this type of plan in place is to avoid jeopardising the business financially when buying back shares from the deceased estate and to protect the business against the possibility of the shares being sold to a competitor or outside the business as a result of there being a lack of funds to do so.
“Deb is absolutely fantastic: she has such a positive can do attitude and a depth of expertise that you feel instantly relaxed about the whole process.“
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Call Us
0121 454 7347
Email Us
admin@eatonmortgages.co.uk
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Our fees range from £249 – £499, our typical fee is £499, the initial consultation and sourcing of a mortgage is free, with fees becoming part payable upon full application.
Your property may be repossessed if you do not keep up payments on your mortgage.
Registered Office: 4d Heathfield Road, Kings Heath, Birmingham, B14 7BD
Registered in England & Wales No. 11020989
Eaton Mortgages and Protection LTD is authorised and regulated by the Financial Conduct Authority registration number 804700.
The Financial Conduct Authority does not regulate some forms of Buy to Let.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.