Do I need Accident & Sickness Cover?
If you have to have time off work due to illness or an accident, this policy will cover you so that you will be able to maintain your mortgage payments. We advise our clients to take up this cover, as it protects you from unexpected circumstances, should they arise.
How does this work?
The last thing you need to be worrying about when you take out a mortgage is what will happen if you experience circumstances that prevent your ability to maintain payments.
If you have an accident or are diagnosed with an illness which causes you to take time off work, you can ease some of the worry if you were to have a protection policy in place.
The policy is designed to pay out a smaller, monthly amount, to replace earned income, whilst the policy holder is unable to work, due to accident or sickness.
It can be tailored to the policy holder, to factor in the employer’s sick pay, saved income, and planned retirement age, allowing the cover to be built around the policyholder’s budget.
‘Low cost’ options can also be provided, which will offer a limited period of cover for 1, 2 or 5 years.
Frequently Asked Questions
Not sure if you need cover?
You might be wondering if taking out this kind of insurance policy is really necessary. But think about what could happen if you had an illness or condition that would stop you from working – especially if you have a family and you are responsible for their welfare. It is always wise to consider taking out a policy, even if you only have the most basic level of cover – that way you have some reassurance that your essential bills bill be covered should the worst happen.
Do you work in a high risk profession?
If you work in a job that involves a higher chance of becoming injured, it would be even more advisable to take out a protection policy. It may cost more depending on your profession, but speak to us for further details and advice. We also have access to Metlife accident protection, which covers insurance against sports injuries, injuries sustained at work, and accidents which can result in your having to take extended periods off work.
Need more information?
Insurance can be complex, and there are a number of aspects to these types of policies. We’re here to help, so speak to us to get expert advice – there is no obligation and we will design our advice around your individual needs.
We can help you to understand more about how Accident & Sickness Cover works and if it’s right for you – contact us today to arrange an appointment!
