One very important factor when taking out a mortgage is ensuring you and your dependants are fully covered should the worse happen
FOSTERS offer all types of Life & Critical Illness Insurance and are able to offer comprehensive advice on the options available
Even if you do not have a current mortgage you may still have a need for Standalone Life Cover or Critical Illness Cover
Being fully qualified to offer advice , we are more than happy to talk through the options
We are also often able to obtain better cover than you already have at a reduced premium!
Talk to us today about your requirements and a non-obligatory quotation
For protection insurance we offer products from a select panel of providers
Fosters Mortgage Services is a trading name of FOSTERS (UK) Limted, which is authorised and regulated by the Financial Conduct Authority under 628833.
The Financial Conduct Authority does not regulate Will writing, trusts and some forms of Buy To Let mortgages and tax planning.
The Information contained with this website is subject the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
FOSTERS (UK) Limited, 20 Fairleigh Road, Clevedon, North Somerset, BS21 7XA
Home & evening visits available - 01275 541 548
Life insurance is fairly simple with a few options. It does what it says on the tin and pays out a lump sum should you die within the term of the policy.
These policies can be taken individually or as a joint policy with a partner paying out only once. The premiums depend on many factors such as age, length or policy, health of an applicant and if you are a smoker or not.
Decreasing Term Insurance
Designed to pay off a repayment mortgage throughout its term.
Upon death the payout will be enough to repay
the mortgage but will leave no extra to help with
Level Term Insurance
Designed to pay off an interest only mortgage or as a lump sum for whatever purpose. More expensive than a decreasing term policy but will pay out a set amount however long the policy has been in force.
Whole Of Life
Whole of life cover is a policy that pays out upon death whatever age you are. As it will always pay out at some point these policies are more expensive than term assurance where the term of the policy is limited.
Critical insurance policies are designed to pay out a lump sum on diagnosis of a specified critical illness. These policies can be taken out in the same way as life cover. Either decreasing or level term. It can be taken out purely on its own or as part of a life cover policy. With a joint Life & Critical illness policy you will be covered for both events but paid out upon the first event only.
The lump sum can be used for any purpose you like including private medical treatment or even alterations to your home if required. Cover from one provider often differs from another so it is important to ensure you understand what is and isnt covered.
Why not just use Moneysupermarket?
Theres an old saying that im sure many of you would have heard once or twice before. You get what you pay for in life!
You may find a provider cheaper on an internet comparison site. They may offer a reasonable policy, but what is their claims history like? do they cover everything?
Do you really know what cover you should have and all the options? Talk to us, we work with you to ensure if the worst ever happens then you and your family can survive financially.