Here at Nicola Kay Mortgage & Protection Specialists (NKMPS), we pride ourselves on ensuring you have the right protection in place.
As part of the mortgage process, we will review your Life Insurance needs to ensure that your mortgage will be repaid should the worst happen. As well as this, we will look to provide you with advice on Income Protection & Critical Illness Cover in the event of you being off work due to accident, injury or a serious illness. We will carry out thorough research so you don’t have to!
Our Protection Specialists can provide advice on Business Protection. Some of these areas include: Relevant Life, Shareholder / Partnership Protection & Key Person Cover.
How can we help?
Life Insurance
The loss of a family member is naturally a very emotional time for all involved. Life Insurance protects the people who depend on you and is designed to pay a lump sum on death which can be used to pay off your mortgage. Having suitable Life Insurance means that your family don’t need to worry financially but instead can focus on supporting each other.
We will also explain the process of placing the cover in trust to ensure that the lump sum is paid to the right people where appropriate.
Critical Illness
Critical Illness Cover provides you with a tax-free lump sum in the event that you are diagnosed with a specified critical illness cover by the policy. By having a Critical Illness policy in place means that you can use the lump sum to provide you with financial stability so you and your family can concentrate on the recovery process. There are also some providers that allow you to include your children too.
The most common Critical Illness claims that we see are for Cancer, Heart Attack & Stroke. However, there are many more conditions both physically and mentally that are covered under this type of policy. Our Protection Specialists are on hand to explain how we can ensure you are protected should the worst happen.
Income Protection
Income Protection provides a financial safety net in the event that you are unable to work due to illness, injury, or disability. This type of cover provides a percentage of your salary each month to help you to continue paying your outgoings. Income Protection usually runs until your retirement age and has a waiting period which is usually set to start after your sick pay ends.
At NKMPS we know it’s important to provide a tailored recommendation therefore whether you’re employed, self-employed, NHS employee or work in the public sector we can provide specific cover just for you!
Family income benefit
Family Income Benefit is a type of life insurance which provides a monthly income to your family should you pass away or are diagnosed with a terminal illness. It’s ideal for families with young children, specifically if one parent is a primary earner as it can help cover expenses such as childcare and household bills. This gives the surviving partner / caregiver the peace of mind that the there is financial support in place so the family can maintain their living standards.
We will also explain the process of placing the cover in trust to ensure that the lump sum is paid to the right people where appropriate.
business protection
As a business owner you pour your heart and soul into growing your empire, but it’s easy to overlook crucial protection measures when you become so busy. What would happen if the unexpected strikes? A sudden illness or loss of a key team member could jeopardise everything you’ve worked for.
At NKMPS, our Protection Specialists are dedicated to ensuring that you have a business contingency plan in place. We take the time to understand your unique business circumstances and provide comprehensive solutions that safeguard not only your business but also those who matter most to you.
The types of policies we can look to provide include: Relevant Life, Executive Income Protection, Shareholder & Parentship Protection, Key Person Cover & Loan Protection.
Home insurance
Your home is arguably the most important asset you own, as well as the most expensive. Having a comprehensive Home Insurance policy in place ensures that the buildings and any personal items are protected against the main perils; fire, theft & flood. We also offer Landlord Insurance as we understand it is equally important. Landlord Insurance is designed specifically for those renting out properties to protect the physical structure and can also include cover for loss of rental income.
Both types of insurance offer peace of mind, ensuring that property owners are financially protected from unexpected events.
Protection faqs
Do I need to get Life Insurance if I have a mortgage?
A house is arguably the biggest asset that you’ve spent time saving up for therefore it’s important to consider what’s best for you and your loved ones. If you were to pass away, would you want your partner or family to have to sell the house? Life Insurance can ensure that the mortgage is repaid leaving the house to remain within the family.
How much does Life Insurance cost?
Life insurance is priced based on the amount of cover needed along with the length of term the policy would need to run for. Other factors that are considered when looking at the cost of Life Insurance are age, health, smoker status and on some occasions occupation.
Why should I use a Protection Specialist?
A Protection Specialist completes a thorough review with you to understand your circumstances including any future goals that you might have. When recommending a protection policy, we consider our knowledge of the insurer’s products, services, underwriting process and claim statistics to ensure the policy meets your needs. We are passionate about helping you ensure that you and your family are protected should the worst happen. Let us do the leg work, so you don’t have to!
