Life Assurance

By Life Assurance we mean all types of insurance that protect your mortgage debt and/or family in case something unforeseen happens. Taking insurance out provides you with the comfort that if something terrible did happen, it wouldn’t be made even worse by the consequences!

You can insure against your death where a sum is paid out if you die which can be used to clear the mortgage debt and/or provide funds for the family towards their living costs.

Critical Illness Insurance provides a payout if you are diagnosed with one of a range of specified critical illnesses - a serious illness that would have a significant impact not only on your life and earning potential, but that of your whole family.

Mortgage Payment Protection Insurance can be taken to provide a monthly income for full term of the policy if you are unable to earn/work due to ill health, often referred to as Permanent Health Insurance (PHI).

Accident, Sickness & Unemployment Insurance (ASU) pays out in the short term (normally 1-2years) if you are unable to earn/work. It can be taken all together or broken into Accident & Sickness, and/or Unemployment Insurance if you are just worried about losing your job.

This list is not exhaustive and there are a range of other types of insurance available to you. The type and amount of cover depends very much on your individual circumstances, attitude to risk and budget.

We source quotes from a wide range of Insurance providers to ensure you get the best value for money. If you call us we can explain all types of cover in more detail and together we can work out a package of cover that meets your requirements at a cost you are comfortable with.

Buildings & Contents Insurance

If you take out a mortgage the lender insists that you have Buildings Insurance. Buildings Insurance provides cover in case the property falls/burns down. It is an insurance policy which covers the cost of rebuilding the property should this happen.

Contents Insurance covers the internal contents of your property - furniture, fixtures and fittings as well as your personal possessions. You do not have to take out Contents Insurance but it is recommended.

What you don't need to do is take the Buildings or Contents Insurance provided by your mortgage company which is often very expensive. At Mayfield Mortgages we get quotes from a whole range of different insurance companies to make sure you get the best insurance at the lowest possible cost.