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Why should I protect my income?
Income protection insurance is taken out against the payment of a debt in the event that you lose your income due to unemployment, illness or accident. In the UK more than two million people aged between 20 and 64 years have been off work for a period of more than six months. In such circumstances, income protection insurance can provide valuable peace of mind and offer security at times when money income may otherwise be tight.
Mortgage Payment Protection (ASU)
This is designed to provide an income to cover your mortgage or rent payment and associated bills. This usually provides a monthly payment of up to 125% of the mortgage payment for up to 24 months. This is also known as Accident Sickness and Unemployment MPPI. This is the most common policy to be taken out by clients however something to bear in mind is that these policies are underwritten when you make the claim. This simply means that although the application process is easy, making a claim on these policies is never guaranteed. At Fresh Finance Group we will never make a recommendation for these policies unless there is a specific reason.
Permanent Health Insurance (PHI)
We believe that these policies are much more comprehensive than ASU. They can ultimately provide a tax free income to retirement age(not 24 months like ASU). A maximum of 65% of your gross monthly income can be covered. However it pays out when unable to work due to illness or injury. Redundancy is not covered but can be added as a separate policy.
Unemployment Cover (UR)
This is designed to provide an income to cover your mortgage or rent payment and associated bills against unemployment and redundancy only. This usually provides a monthly payment of up to 125% of the mortgage payment for up to 24 months. This is the most common policy to be taken out by clients who wish to cover these eventualities only. However something to bear in mind is that these policies are underwritten when you make the claim.
Fresh Finance Group Ltd acts as a credit broker not a lender
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Fresh Finance Group Ltd is an Appointed Representative of Personal Touch Financial Services Limited which is Authorised and Regulated by the Financial Conduct Authority
Some of the products/services shown are not or may not be regulated by the Financial Conduct Authority
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Our fees and charges vary depending on the Services we provide to you. We usually charge a fee for mortgage advice. This would typically be of £995 or 1% of the mortgage loan whichever is greater, payable upon completion.
Fresh Finance Group Ltd, Fenn House, Duke Street, Stoke on Trent Staffordshire, ST4 3NR Fresh Finance Group Limited is a company registered in England & Wales with company number 05706346