Insurance

Once you have secured the right mortgage it is very important to ensure that you have the correct protection policies in place to ensure your home and loved ones are looked after if an unforeseen life altering event should happen. We offer all our clients a full range of protection policies that suit every individual need and monthly budget, making peace of mind both affordable and relevant to your circumstances.

Protection Policies Available

Level Term – The sum assured remains the same throughout the term of the policy. If the mortgage balance has reduced the surplus funds can be used for family protection. This policy also includes terminal illness which means the policy will pay out prior to death if you have less than 12 months to live.

Decreasing Term – The sum assured reduces throughout the term of the policy, therefore it is not guaranteed to repay your mortgage balance. This type of policy is mainly used with repayment mortgages and is a cheaper alternative to level term insurance.

Critical Illness – pays out a lump sum when you are diagnosed with a Critical Illness as long as the condition meet the definition of the illness required by the provider.

Whole of Life – This policy has no term end date and therefore the policy is guaranteed to pay out in the event of death, whenever this happens.

Income Protection – This policy will pay a monthly benefit until either you return to work, die or the policy expires.

There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyhelper.org.uk

Buildings and Contents Insurance – Buildings Insurance is usually a condition of obtaining a mortgage and should be in place for the whole of the mortgage term. Buildings and Contents Insurance provides peace of mind if things should go wrong. The policy will protect those items that can be expensive to replace if they become damaged, broken, lost or stolen due to fire, accidental Damage or theft within the definitions of the policy.

Business Insurance –  insuring your business is essential to protect business partners and deceased Management surviving families, we advise on Key Man Protection. Offering death in service to employees is a great incentive to their employment packages to benefit their loved ones, we advise on Life of Another policies either on an individual basis or a group basis.

All We recommend that you consider the need to have insurance and protection policies written in trust wherever possible. This is a free service offered by Sandcastle Mortgages (Oxford) Limited for policies recommended by our advisors.

The Financial Conduct Authority do not regulate trusts.