Personal Insurance
In consultation with you, we will help you prioritise your needs and take into account your individual circumstances and requirements. This bespoke service is arguably our most important one, as the consequences of such events are so great.
Being independent allows us to offer the most suitable products in the market place. Such policies include the following:
- Term Assurance
This offers potentially valuable financial protection in the event of your death(s). It can be taken out for many reasons but the most common ones are to protect your financial dependants or to protect a financial commitment, such as a mortgage.
Term assurance is designed to pay out if you die within a set period of time. You can choose whether you want the lump sum payment to decrease throughout the term, or to remain level. Decreasing term assurance is usually taken out to cover the cost of repaying a capital and interest mortgage, a level term assurance is usually taken out to protect your family while they are dependent on you financially.
If the life assured survives the term of the policy, no payment is made and the policy expires.
- Critical Illness
The financial consequence of a critical illness can be similar to that of death. If you, or those who depend on you, would face financial difficulties if you became critically ill, you may want to consider taking out a critical illness policy.
Critical illness cover is designed to pay out a lump sum on diagnosis of a specified critical illness. Critical illnesses are life-threatening illnesses, such as some forms of cancer or some types of heart attacks.
If the person covered for critical illness is not diagnosed with one of the illnesses specified in the policy during the term, no payment is made and the policy expires.
- Income Protection Insurance
Under an income protection policy, you pay regular premiums to an insurance company and, in return, they agree that (subject to certain conditions) they will pay you a benefit if you are too ill to work. This benefit is paid as a proportion of your salary.
This differs from life assurance by paying out not on death, but when you are unable to work due to illness or accident.
The company providing the cover usually stipulates the length of time you have to be off work before they consider paying the claim, known as the deferred period (usually 1, 3, 6, or 12 months). Once this deferred period has been satisfied, the provider will begin paying the benefits. These benefits will be paid until either the insured returns to work, upon retirement or until the end of the term of the policy, thus it is a permanent policy. The benefit is paid monthly and is tax-free.
1st Financial Group offers a wide range of general insurance products in addition to its core mortgage and protection services. We pride ourselves in being competitive whilst maintaining the highest standards of customer service.
Whatever your needs we are here to help. For further details please contact us on 01823 259888
Personal Lines Insurance
Household
- Buildings and Contents
- Buy to Let Properties
- High Value Holiday Homes
Protection
- Personal Accident
- Mortgage Protection
- ASU (Accident, Sickness & Unemployment)
Travel
- Annual Multi-Trip
- Single Trip