/ Author: SPF

At SPF Private Clients, we understand the importance of safeguarding your financial future. A life insurance policy provides your family with highly valued financial protection, whether it’s to secure a mortgage or replace the loss of income. We are well-placed to offer excellent advice, assisting you in not only finding the perfect mortgage but also protecting it.

Why Mortgage Protection Insurance Matters.

Mortgage protection insurance ensures your home loan is paid off if you become unable to make payments due to death, disability, or critical illness. It provides financial security, protects your family from losing their home, and offers peace of mind knowing that your mortgage obligations are covered during uncertain times.

Our advisers at SPF can guide you through the different types of policies available – life insurance, critical illness cover, or income protection. These policies can be tailored to fit your needs and budget, helping you plan for a financially secure future for your loved ones. We provide peace of mind when you need it most.

Client Success Stories

We recently assisted two sets of clients in securing mortgages and then provided invaluable insurance protection, ensuring their homes remained secure despite unexpected illnesses.

Case 1: Mid-Thirties Clients

Our clients in their mid-thirties secured a £775,000 mortgage over 30 years. They opted for a joint life decreasing policy with both life and critical illness cover from Aviva, at a monthly premium of £428.75. Eighteen months into the policy, one client was diagnosed with cancer. SPF played a pivotal role in lodging the critical illness claim, resulting in a full payout. Thankfully, the insured made a full recovery.

Case 2: Late-Twenties Clients

Another set of clients in their late twenties bought a property for £875,000 with a £676,250 mortgage over 30 years. We replaced their existing policy with a new one from Aviva, offering life cover of £676,250 and critical illness cover of £338,125 (50% of the mortgage amount) at a monthly premium of £139.70. Two years later, one client was diagnosed with multiple sclerosis. SPF assisted with the claim, and Aviva settled within six weeks.We then helped them apply for a new policy for the unaffected party.

As local providers, SPF knows the Guernsey market well and is versed in products and services that meet our clients’ needs. For independent and informed advice when you need it, trust SPF Private Clients.

For more information on how we can assist you with mortgage and insurance advice, contact us today.

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