Protection & Insurance

Specialist Home Protection and Insurance for you and your family

Bristol Mortgages Online always recommends a fully protected mortgage.

Bristol Mortgages Online is an Independent Mortgage Broker, this means that we are not only mortgage specialists, but we can also access the whole market for your insurance protection needs. 
Many banks and building societies and estate agents are “tied” to one insurer, and therefore cannot compete with an independent specialist like ourselves on cost or benefits as they only offer one product. This is a complex area and, in our view, is sometimes a more important decision than the mortgage. Whereas a mortgage may only last two or three years, the right protection could last the whole term! 

We therefore always have a free face to face consultation with you and one of our experienced advisors to discuss your individual requirements to help us with our personal recommendations.

We have listed below a brief description of some of the many types of protection currently available, which may help narrow down your choices. Please feel free to call us and we will arrange an appointment with you at home, in your office or at our offices in Henleaze, BS9.
Contact

What is critical illness cover?

Critical illness insurance will pay out if you get one of a number of specific medical conditions or injuries listed in the policy. But be aware that not all conditions are covered and policy will also state how serious the condition must be.
Most policies will also consider permanent disabilities as a result of injury or illness. A critical illness policy only pays out once and then the policy ends. Some policies will make a smaller payment for less severe conditions, or if one of your children has one of the specified conditions.
critical illness cover

What isn't covered?

Some serious illnesses might not be covered, for example, some cancers and conditions not listed in the policy. You probably won’t be covered for health problems you knew you had before you took out the insurance, and this type of insurance does not pay out if you die. What’s covered and what’s not will be set out in the policy details so make sure you’re fully aware of them and that they cover your needs. We guide you through all the considerations to find the right policy to meet your needs.
insurance

Do you need critical illness cover?

State benefits might not be enough to replace your income if something goes wrong. If you’re eligible, welfare benefits range from around £70 a week to just over £100 a week, depending on your circumstances (i.e. whether or not you have children, a certain level of savings, or if your partner works).

Critical illness cover could be considered if:
  • You don’t have savings to tide you over if become seriously ill or disabled
  • You don’t have an employee benefits package to cover a longer time off work due to sickness
insurance coverage

Who doesn’t need it?

You might not need it if:
  • You have enough savings to fall back on and can adequately cover expenses such as bills, loans, medical costs or a mortgage
  • You have a partner who can cover living costs and any shared commitments, like a mortgage
  • You might already have some cover included in other products or work benefits.

How much does it cost?

Your monthly payments will depend on a number of factors, including:
  • Age
  • Whether you smoke or have previously smoked
  • Health (your current health, your weight, your family medical history)
  • Job (some occupations carry a higher risk than others and may mean you have to pay more each month)
  • The amount of cover you take out
insurance work

Other types of protection include:

Decreasing Term Assurance 
This product provides a lump sum on death and/or critical illness during the term, if eligible. Cover decreases each year, in line with the balance of a repayment (capital and Interest) mortgage. 

Level Term Assurance 
As above, but cover remains level throughout the term. 
Mortgage payment protection insurance (MPPI / ASU) 
Usually provides short term protection against sickness and / or redundancy. If you are eligible, cover can be from Day 1 or 30 / 60 days and lasts 12 - 24 months in either event. 

Permanent Health Insurance 
Provides a long term, usually Tax Free income, if you are unable to work due to accident or sickness, if eligible. This usually will be for at least the mortgage term, or preferably to retirement. This tends to be set up to take over from when your employer’s sick pay would normally end e.g. 13 or 26 weeks 

Private Health Insurance 
To provide cover to allow for any private medical treatment and may also provide an income while in an NHS hospital. Subject to limits and eligibility. 

Decreasing Term Assurance

Commercial Mortgage Protection

Protect your Business:

Key person insurance - also known as key man insurance
  • Director / shareholder protection
  • Partnership protection
  • Business loan protection
  • Sole trader protection

Whether you are a sole trader, partnership or limited company business protection is a vital safety net, and can take many forms, life and / or critical illness cover, income protection, key person or 'key man' insurance, and for limited companies, why not let the tax man pay for some of your life cover?

  • Keep your business trading
  • You can replace key individuals
  • Protect corporate debt
  • Buy out a shareholder if they become critically ill or buy their share from their estate if they die.
  • Critical protection is vital to allow businesses to recover quickly
Commercial Mortgage Protection
GMM

Bristol Mortgages Online and Exeter Mortgages Online, as part of the SW Mortgages Group, work closely with GMM Commercial Insurance Services Ltd.

GMM
GMM Commercial Insurance Services Ltd are an FCA approved insurance broker based in Newton Abbot, providing insurance and risk management solutions for their clients and their clients' businesses.

GMM get to know you and your business, how it works and the people involved in the day to day operation. GMM has been trading from its Newton Abbot base since 1982. The majority of their team have been with them for over 10 years and some for more than 20 years! They believe this continuity is very important, particularly as they are in a people business. Their clients value the fact that they are able to discuss their insurance needs or claims with someone who has dealt with their account and knows how their business operates.

GMM aim to provide insurance products from reliable and secure markets backed by a knowledgeable, friendly and local service.

Central to this aspiration is their ability to identify and understand clients’ needs, along with recommendations of the most appropriate and cost effective insurance to satisfy them. 

For further information, please visit www.gmminsurance.co.uk quoting SWMortgages.

GMM Commercial Insurance Services Ltd is authorised and regulated by the Financial Conduct Authority under register number 458372 and holds Interim Permission as a Credit Broker 596383. GMM Commercial Insurance Services Ltd does not charge any fees to customers in relation to Credit Broking activities. Director: Simon Rice Cert PFS | GMM Insurance is the trading name of GMM Commercial Insurance Services Ltd. Registered No. 5735275. Registered in England at 3 Southernhay West, Exeter, Devon, EX1 1JG. Registered No. 5372186.
For more useful information on any of our services click on the button below:
For information and advice on home protection and insurance

Call Bristol Mortgages Online on 0117 325 1511

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