Insurance & Assurance

There is a wide variety of term assurances available, but they all share one common characteristic, which is that the sum assured is payable only if the death of the life assured occurs within a specified period of time (the term).

Term assurance is the most basic form of life assurance - pure protection for a limited period with no element of investment. For this reason it is also the cheapest.
There are basically two types of term assurance used to protect an individuals home. The first of these, level term assurance, is where the sum assured remains constant through-out the term. This type of product would most commonly be used to protect someone with an interest-only mortgage.

The second type of protection product used for mortgages is decreasing term assurance. With this product the sum assured reduces proportionately over the term. It is designed to run alongside a repayment mortgage where the capital owed reduces over the term of the mortgage.

At Marlborough Mortgage Services we source our term assurance from a range of insurers and recommend the best product available to meet our clients needs.

Critical Illness Cover will provide a tax free lump sum payment on diagnosis of one of a range of specified illnesses not necessarily terminal. One significant purpose of this cover is to provide a lump sum to repay a mortgage where the homeowner may never be able to work again or work at the same earnings level.

This type of cover is generally suited to those where there is a dependancy on a single source of income.

There are a number of ways an individual can protect their mortgage payments or the income which pays their mortgage. These products can be generally referred to as Accident, Sickness,and Unemployment Insurance.

Such insurance should be viewed as a short-term solution to protect an individuals home whilst they recover from an accident or sickness, or whilst finding new employment following unforseen redundancy.

The premiums are generally paid monthly and can be renewed annually. At Marlborough Mortgage Services we utilised products from Paymentshield, who offer an excellent service at competitive prices.

When buying a property or remortgaging your lender will insist that you have adequate Buildings Insurance to meet the rebuilding costs of your property should anything disasterous happen. Whilst quoting for Buildings Insurance we are also happy to extend the quotation to include content cover. At Marlborough Mortgage Services we utilised products from Paymentshield,who offer an excellent service at competitive prices.