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Life insurance
We never want to think about it but should the worst happen would your family be protected?
The following information is a summary only and should not be taken as advice, as suitability of a product is based on an individual’s circumstances.
Life assurance offers valuable financial protection and peace of mind in the event of death, especially where you have a family dependant on you and/or your income. This could provide a lump sum or an income payable on death, over a specific term of years e.g. the term of your mortgage. Benefits payable could form part of your estate, if not written in trust and could be liable for inheritance tax, if the value of your estate is above a certain threshold. All policies will be subject to satisfactory medical underwriting. Life cover can be on a decreasing term basis, designed for protecting repayment mortgages which means the sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term.
It is possible to have life insurance premiums on fixed monthly payments. This means for the term of the policy the payments will not change even if your health does.
Level Term Assurance – Provides a guaranteed lump sum to be paid on the death of the life / lives assured, throughout the term of the policy. Premiums are level for the duration of the plan. This could provide an amount equal to that of a mortgage loan outstanding, e.g. interest only, a non-mortgage debt or liability.
Mortgage Protection – This policy is designed so that the amount of benefit payable would be sufficient to repay the amount of mortgage outstanding, throughout the mortgage term i.e. a capital and interest repayment mortgage. If you die during the policy term your insurer will pay the calculated amount of cover at that time.
THESE PLANS HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
TAX TREATMENT IS BASED ON INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE IN THE FUTURE.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE INHERITANCE TAX AND TRUST PLANNING
Critical illness
Critical illness cover pays a tax free lump-sum benefit upon diagnosis of a critical illness or a critical condition. This can include heart attack, stroke, cancer and many more.
The following information is a summary only and should not be taken as advice, as suitability of a product is based on an individual’s circumstances.
A critical illness insurance payout helps you avoid the financial strain a major illness can create, so you can focus on your recovery. The policy will also pay out if a policyholder becomes permanently disabled as a result of injury or illness.
The policies can be either on a decreasing or level term basis depending on the type of mortgage you have. We can talk you through all your options.
These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.
Building insurance
At KT Partnership we are very competitive in providing you with buildings and contents cover.
If you have a mortgage, your lender will insist that your property (and their security) is protected by buildings insurance. It usually pays out if your property is destroyed by fire, floods or subsidence (although you will need to check if you live on a flood plain, for example). Damage to fixed fittings such as baths and kitchens are often included, as well as sheds, greenhouses and garages.
You need to tell your insurer if you extend your property, for example with a loft conversion or conservatory. Your belongings are not covered – these need to be covered separately with contents insurance – see Contents insurance.
KT Partnership Ltd act as a credit broker not a lender.
Contents insurance
Contents Insurance covers the loss of or damage to the contents of your home. This includes your furniture, electrical goods and other items within your home.
Some policies cover you for items you take outside, for example cameras, jewellery and briefcases. Different policies offer different levels of cover but generally you’ll be covered against theft and fire, and have the option to insure against damage you may cause by accident. It is always vital that you thoroughly read and understand the full policy terms and conditions.
KT Partnership Ltd act as a credit broker not a lender.
Income protection
Income Protection can make your life easier if you cannot work due to sickness or injury. If you fell ill would you be able to survive on statutory sick pay? Could you afford to live of your savings?
The amount of income protection cover you need will be determined by your salary. Whether you are self employed or employed this type of insurance can be tailored to suit your individual needs.
INCOME PROTECTION PLANS THAT HAVE NO INVESTMENT LINK HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF YOU STOP PAYING PREMIUMS YOUR COVER MAY END.
Medical insurance
Access to private healthcare treatment can be seen as an expensive option. But it doesn’t have to be. A private medical insurance can give you peace of mind that, when needed can help to avoid long hospital waiting lists and give access to the latest treatments at an affordable price.
We are unable to provide you with advice in this area however we can introduce you to an authorised and regulated Financial Adviser who can provide you with specialist advice in this area.
KT Partnership Ltd
94b High Street
Epsom, Surrey KT19 8BJ
Tel: 01372 743 975
contact@ktpartnership.co.uk
KT Partnership Ltd
94b High Street
Epsom, Surrey KT19 8BJ
Tel: 01372 743 975
contact@ktpartnership.co.uk
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Our fees and charges vary depending on the service we provide you. We may charge a fee of up to £495 for a mortgage payable on offer.
KT Partnership is a trading name of KT Partnership Ltd who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.
Directors: Michael Tickner (advising)
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMER BASED IN THE UK.
Registered Office: Unit B11, Sutton Business Centre, Restmor Way, Wallington, Surrey, England, SM6 7AH
KT Partnership Ltd is registered in England & Wales under reference 7381930
KT Partnership 2020 | A website by Treefrog Design