Mortgage Insurances
At SJR Mortgages, it is our moral duty to ensure you and your family are adequately protected should the worst happen.
Our insurance solutions will be tailored to your needs and to avoid the risk of repossession.
We work with a range of insurance providers offering a variety of services.
Life insurance:
Life insurance pays a lump sum payment to your beneficiaries in the event of your death. From low-options to special circumstances, it provides peace of mind, ensuring your loved ones are financially protected.
Critical illness:
Critical illness will pay out a lump sum on diagnosis of a serious illness specified in your policy. This tax-free payment provides a lump sum that can be used to cover medical bills, ongoing care, or even pay off the mortgage.
Income protection:
An income protection policy is designed to replace your lost income due to accident, sickness and unemployment (with some insurers). This is tailored to your salary and can work in line with your employer sick pay.
Buildings and contents insurance:
Buildings and contents cover is a combined cover that protects the buildings and your personal belongings against an unfortunate event.
Frequently asked mortgage insurance questions (FAQs)
Can my mortgage be covered with life insurance?
Whilst it is not directly linked to the mortgage, you can take out a policy which follows the mortgage balance and pays a tax-free lump sum to clear the mortgage.
What insurance do I need when taking out a mortgage?
If you are purchasing a freehold property, the lender will require you to have buildings insurance in place. Other protection policies are not compulsory, but strongly advised if you have no suitable arrangements in place.
How do I make a claim?
Contact your insurance provider and a dedicated claims team will explain the next steps.
Am I eligible for income protection if I’m self-employed?
Yes, you’re eligible for income protection. However, with all insurance policies, exclusions apply.
What is a deferred period?
This is the period that you choose to wait before the policies starts to pay out. The longer the deferred period, the cheaper your monthly premium is likely to be.
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Disclaimer:
As with all insurance policies, conditions and exclusions will apply.
