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Financial protection help, advice and guide

Welcome to the financial protection advice page. Here we will be able to provide you with all the help and advice you need related to any issues you have with an existing protection policy, or choosing a new one. We also offer a range of useful guides to give you more information about financial protection, which you can find below.

What are financial protection products?

Financial protection products are a type of insurance designed to prevent you from financial trouble in certain situations. Protection products can effectively ‘insure’ more than one thing at a time, and are geared towards insuring your money. For example, mortgage protection is a single product which has within it an element of life insurance as well as income protection. This means that you are more comprehensively covered for more eventualities than a simple mortgage insurance policy.

Protection products are not necessarily simple, and due to the nature of them, could be vital to your financial wellbeing. Consider how you would continue to pay your mortgage if you were off work for an extended period of time, and you income ceased. This is why we strongly recommend that you seek help and advice before deciding on and applying for a protection product

Financial protection products and your health

Some protection products will have a medical underwriting process that you must complete when you apply. This is essentially a screening to see how much of a risk you are, and the premiums you pay will be devised from this.

You will be asked a series of questions about your health history, as well as your current habits related to smoking, your occupation, your hobbies and more. The higher the risk you are considered to be, the more likely you will be to claim, and the more your premiums will be.

Types of financial protection products

There are a range of products that fall into the financial protection category. Many of them are geared towards providing you or your dependents with an income if you are unable to work, made redundant, become critically ill, or die. This means they are essentially insuring the money you receive and use to pay your necessary bills.

Some of the more popular protection products are listed below. Please click for more information.
- Mortgage Protection Insurance
- Payment Protection Insurance
- Critical Illness Cover
- Income Protection

Mis-selling of financial protection products

There have been some high profile cases of mis-sold protection products recently, most notably payment protection insurance (PPI). PPI was sold as an ‘add-on’ to loans from banks mainly, and was designed to insure your repayments if you were unable to work. Much of the time people were sold PPI without properly understanding or even agreeing to it, and it is in these cases that the mis-selling occurred.

If you feel you have been mis-sold PPI and would like advice on how to make a claim, please contact one of our advisors who will be happy to help

Financial protection help and advice for you

Whether you are looking to apply for a new protection policy, or have any underlying questions about your current policy, then we can help you.

With products as potentially confusing as these we know that you are likely to have many questions, and finding the right person to talk to can be difficult. Financial protection products are very important and could be vital to your long term financial security, so getting the right cover is of great significance. Simply ask your question and we will get back to you in under 60 minutes.

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