AGA Mortgages are able to offer a number of insurance products to protect you, your family and your home. We also offer a Will writing service.

Whatever your circumstances we can help…

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We can provide you with expert insurance advice and guidance on how to best protect yourself. What type of policy and the value depends on your circumstances.

None of us are invincible. If you are still unsure about taking insurance, then please watch this video first.

Why do I need insurance?

If you have a partner, spouse or children and have a mortgage it is highly recommended that you take some kind of protection should anything happen to you. For instance, should you die prematurely; your partner or family would be left to pay the mortgage and bills.

Even if you are single with no dependants it is advisable to take out some kind of protection as should you not be able to work for any reason, who would pay your mortgage and bills?

Questions you should ask yourself

  • If you or your partner were to die prematurely, how would the mortgage and bills get paid?
  • If you or your partner were to become ill, disabled or unemployed and couldn’t work how would you pay the mortgage and bills?
  • How would you provide for your family should you be unable to work?

What types of policies are available?

Life Assurance

Life Assurance is an insurance policy which pays out a lump sum should you die prematurely. This can then be used by your partner to pay off the mortgage.

  • Level Term – This is a policy which pays out a fixed amount of money in the event of your death.
  • Decreasing Term – This is a policy which reduces in value in line with your mortgage so as your mortgage decreases, so does the amount of life cover.

The below video helps explain this further

Critical Illness cover

This type of policy pays out a lump sum if you were to be diagnosed with a critical illness. We have access to a broad range of critical illness contracts and make use of a powerful research tool to determine which critical illness contracts might be the most appropriate for that individual.

Providers continue to enhance these contracts so we can also offer a free review of any existing plans to determine if switching providers might be beneficial.

Discover more here on this video from Zurich who are one of the many providers we use:

Income Protection

This type of policy pays a monthly amount should you be unable to work, for instance, have an accident or become ill.

Payment protection insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For expert information about insurance, please visit the Money Advice Service.

The below video helps explain this further.

 

Mortgage Payment Protection (MPPI)

This type of policy pays out a monthly amount for typically a 12 month period if, for instance, you have an accident, become ill, become unemployed or are made redundant.

Payment protection insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For expert information about insurance, please visit the Money Advice Service.

Buildings and Contents

Buildings insurance is a legal requirement if you are buying a property and it would also be advisable to have contents cover too. Buildings insurance will then cover against standard perils such as fire and flood for example and there are other additional features available such as accidental damage, personal possessions cover outside of the home and home emergency cover. Please ask for further details.

Trusts and Wills

Whilst also reviewing your insurances it might be sensible to put your life insurance into a trust. We can explain the benefits when reviewing your insurance needs.

In addition, ensuring you have a valid Will would be entirely sensible to ensure your wises can be carried out. Working in conjunction with a company called Kwil we can offer to make a Will for £90 for a single Will or £120 for a joint Will (Mirror Will typically used for a couple). Please call us for further details and you can apply here to get started:

Click here to start making your Will.