Insurance to
protect you and
your loved ones

Insurance to protect you and your loved ones

Life is complicated but organising insurance shouldn’t be. 

Life is complicated but organising insurance shouldn’t be. 

Life insurance

Looking to protect those closest to you should the worse happen?

Life insurance provides peace of mind, ensuring your family is looked after if you were to die. Depending on the type of life policy a cash lump sum would be paid out. This could be used to settle any outstanding debts, such as a mortgage or credit card.

Critical illness cover

What would life be like if you were diagnosed with a serious illness? 

Having a critical illness would alter your life very quickly. If you were diagnosed with a serious condition (such as a heart attack, cancer or stroke) you may need to take time off work and your family could need emotional support. 

With the right cover in place, the worry about your financial situation would be removed as a tax-free lump sum is paid out. Cover could be either on its own or as part of a life insurance policy.

However, not all conditions are covered. Our experts can walk you through the different options ensuring the appropriate cover for you.

Income protection

How would you manage financially if you can’t work due to sickness or injury?

Income protection pays out a regular tax-free replacement income if you’re unable to work due to accident or illness. It can take the worry out of paying any existing monthly outgoings and regular payments continue until you are back working again.

The cost of cover depends on many factors and our experienced advisors can discuss these with you.

Building and contents insurance

Are you covered if something happens to your home, such as a fire, storm damage or burglary?

This type of insurance covers the structure of your home. This includes permanent fixtures, fittings and it could cover everything that is in it. We also offer separate buildings and contents, depending on your situation.

Experts in insurance

We can help guide you through the protection market, ensuring you have the right policies to safeguard you and those closest to you.

Finding the right protection is simple

Our experienced advisors will work with you to find protection that meets your needs.

Free expert advice
We don’t charge for advice about protection!
Your protection options
We will present options from thousands of deals and advise you as to what may be the most suitable.
Your application
We offer a fully managed application process so you can relax knowing we will be there for you every step of the way.
Your protection is in place.

Common questions about protection insurance

Life insurance

Life insurance protects those closest to you ensuring they are looked after if you die. Dependant on the type of life policy a cash lump sum is paid out to settle any outstanding debts, such as a mortgage or credit card.

At Mallory Financial Limited, we have a team of experts who can help ensure that you have the right life insurance in place if this were to happen.

There are lots of factors taken into consideration when determining premiums including the size of the sum insured, the risk of the claim (e.g. if you have a dangerous job), your age, health, occupation, lifestyle etc. 

Term policies are the most common type of insurance and only payout if you die within the duration of the policy. For example, if you take out a term life policy for 25 years, your family can claim if you die within the 25-year period. However, if you die after this term there will be no payout.

Your own age will have an impact on the length of the term as well as other factors e.g. how long your mortgage payments last for, how old your children are and if you want the policy to expire after your children leave school or university. 

Mallory Financial limited has a team of specialist life insurance advisors who can pull these factors together and source a solution that is right for you.

This can be different for each family and will depend on your personal circumstances.

For example, a family with a bigger mortgage could potentially require a greater level of cover than those with a smaller mortgage, but this will depend on a number of factors. Our team of advisors will help by looking at your individual needs and circumstances and will discuss the different options available, enabling you to select a policy that’s right for you.

The answer to this is no.

However, if anything was to happen, the consequence of not having life insurance could mean that your family might not be able to afford the repayments on the mortgage. This may result in them needing to sell the home.

Having a pre-existing medical condition might make finding life insurance more difficult and could cost more, but this doesn’t mean that you can’t be covered. Insurers are likely to ask for medical information to ascertain the condition and the severity and will consider this amongst other factors including your job, your weight and height and if you are a smoker.

Critical illness cover

If you are diagnosed with a critical illness (such as a heart attack or cancer) you may need to take time off work and your family would need additional support. If this was the case, a tax-free lump sum could be paid out, possibly providing that immediate security and peace of mind for those involved.

You can decide on the length of the policy as it can be different for everyone. Many people choose to have the cover until their kids have flown the nest, after they’ve been to university, until the mortgage is paid off or when retirement is reached. 

Critical illness covers specified critical illnesses and tends to include some of the main illnesses including heart attack, stroke, cancers, kidney failure etc. Different plans can cover many more illnesses and can even include cover tailored to your children.

Critical illness pay-out is tax-free and follows an assessment of your situation. As long as all the terms and conditions of the policy are met then the lump sum will be paid directly into your chosen bank account.

Critical illness insurance provides peace of mind that you will be financially supported if you’re diagnosed with one of the conditions included within the policy. The one-off payment is tax-free and would help pay for any treatment, mortgage payments, rent or any required changes to your home such as wheelchair access. 

Income protection

Income protection is a way of safeguarding your income and your home if you can’t work due to sickness and injury. It works so that you continue to receive a monthly income until you are ready to go back to work. However, income protection does not cover for lost pay if you are stood down or you become unemployed.

Typically it covers a vast array of illnesses including the more serious illnesses (like cancer, heart attacks and strokes), it also could cover more general injuries caused by accidents and illness. However, it won’t cover you if you die.

This type of cover could provide longer-term protection than employer or statutory sick pay but will depend on your individual circumstances.

It can also be used to protect your savings and other assets and potentially avoids having to rely on other income or family support to get by. Having income protection is often worth it for the peace of mind it provides – which can outweigh the monthly cost.

If you don’t have income protection insurance and you lose your ability to earn an income through injury or illness, you are living with the risk of not being able to keep up with your lifestyle costs.

Having income protection, could give you the peace of mind that, if you are unwell, you could be able to keep up with the cost of living, providing security for yourself and your family. 

Dependant on what type of cover you have, a regular income is paid and continues to be paid in to your bank account until you return to work. Having income protection could provide a more sufficient, longer-term solution than sick pay and avoids using up your savings and/or assets.

Unfortunately, a surprising number of people become ill or injured every year and many of those face the worry of keeping up with everyday household expenses due to not having the right policy in place. With income protection, you could have the reassurance that you are covered which could potentially outweigh the cost of the insurance. 

Critical Illness pays out a lump sum on the diagnosis of a specified illness, Income Protection pays out a regular monthly income (percentage of your regular employed income) if you are unable to work due to sickness/illness or injury and is not limited to specified illnesses.

The cost of income protection will vary dependant on a number of factors including the level of cover you want, your individual circumstances and how much time passes before you start receiving your pay out. The team at Mallory Financial Limited can discuss different options with you, ensuring you get the cover that helps to suit you, taking in to account the affordability of the monthly premium. 

No, there is no legal requirement to take out income protection insurance although it is a policy that everyone should consider when buying a new property. Without income protection, you will be faced with the pressure of maintaining your mortgage payments and you may lose your home if you are unable to keep up.

  • Appointments at times to suit you

  • We will keep you informed at all times

  • Support with a smile

We are here to help

Whether you’re looking for a mortgage, protection or a secured loan, we have advisers to support you.
Contact us today to arrange your initial consultation.