Once we have found you the most appropriate mortgage products, we are passionate about ensuring that you can remain in your home and support yourself and family if the unforeseen should happen.
Protection requirements range from life assurance to protect your mortgage or family, critical illness cover if you are unfortunate enough to be diagnosed with a specified serious illness, or income protection to cover your income if you are unable to work due to an accident or illness.
This can be a complicated area and one that can be easily pushed to the side during the stress of moving however the day may come when it is too late to rectify this decision. We will help to take the stress out of arranging your protection and ensure that these essential decisions are addressed, and appropriate products are in place when they need to be.
Income protection provides a monthly income to replace your normal earnings if you cannot work due to becoming sick or injured. It is available to employed and self-employed people and can provide a much-needed lifeline to cover your mortgage, bills, food, utilities and other regular monthly outgoings. The money you would receive in the case of loss of income due to illness or an accident is usually provided to you in the form of a tax-free payment, and you can use it to help you whilst you recover. When you become sick and have to put your current employment on hold, the pay you receive will cover your expenses and offer you financial security until you either go back to work, you retire, or your policy ends. The income protection policies available to us are affordable, and your premiums are collected in a simple monthly payment.
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.
Tax treatment is based on individual circumstances and may be subject to change in the future. The Financial Conduct Authority does not regulate tax planning.
The effects of having a critical illness can end up affecting you and your families’ lives more than you thought. Financially, you may not be able to support them whilst you are in recovery, so having insurance for if this did happen would make life easier and paying the bills wouldn’t be something you have to worry about.
Illnesses such as cancer, strokes and heart attacks are all critical illnesses where you would receive a sum of money to aid you and your family during your time of illness. This cover is suitable for you if your family are reliant on you for money, and could help them pay the bills, mortgage and childcare when you are not receiving your usual income. The money you receive upon diagnosis can be used to pay for private treatment, allow you to cut down your working hours and put you in a better financial position, so if you feel that these are things you would like to have access to in this situation, you should consider getting this cover.
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 the plan.
Accident, Sickness & Unemployment insurance (ASU) is designed to provide you with an income to meet your outgoings in case of:
• Absence from work due to illness
• Absence from work due to an accident
With an accident, sickness & unemployment policy you pay a monthly premium for the level of cover you need, and if you lose your job or can't work, you will receive that amount of money each month to cover your costs and spend as you wish. Policies usually pay out for up to a year or until you return to work, whichever happens first.
You can choose the amount of benefit you would like to receive, although there are some limits on the maximum amount. The premium will be a percentage of the amount of monthly benefit you would like to receive. Benefits are usually payable for a maximum of 12 months.
Some policies will also allow you to choose whether you want to receive benefits for accident & sickness only, unemployment only or all three.
There are some exclusions however that you usually would not be covered for:
• deliberate self injury
• riding motorcycles
• dangerous sports or occupations
• working as a professional sports person
• any injury or condition related to normal pregnancy, stress, backache or which you had prior to your application for cover
• AIDS related conditions
• conditions due to drug and alcohol abuse or criminal activity
• sickness which occurs during the first 60 days of your policy
• unemployment which occurs during the first 180 days of your policy
Note - Although these are typical exclusions this may depend on the individual provider.
Usually, provided you are over 18 and under 60, and you normally reside in the UK, Channel Islands or the Isle of Man, you can apply for an accident, sickness & unemployment policy as long you are in employment or self-employment for at least 16 hours per week, and have been so for the last 6 months.
Accidents can happen in everyday life and you can catch illnesses with no warning. If you are too ill to work, then your income might stop, and you may be stuck with no money to pay your bills. Here at AIMS we understand that this can happen to anyone, so we provide reliable insurance covering a monthly income for if you are off work due to an illness or accident that wasn’t your fault.
Have you ever thought about what would happen to your regular mortgage payments if something were to happen to you that meant you couldn’t work? With our wide range of mortgage protection plans, we can ensure that if you are in a position where you cannot pay, you will be supported, and you will not get behind on your mortgage payments.
It is more than likely that at some point in your life you will have an unpreventable accident or fall ill, so why not prepare for the future, so you are not faced with a difficult situation. With access to a range of protection options, we can provide you with the financial stability you will need when you are facing times of a reduced income.
Protect Your Mortgage
Mortgage payment protection insurance, otherwise known as MPPI is a safety net designed to pay your mortgage payments if you fall ill and become unemployed, so you can keep ownership of your house and continue to support your family. This safety net is more important for people who do not have savings behind them to support them in an emergency, or if your family depend on you to make these payments.
Life insurance can be a safety net to help support your family and their future if you were to pass away from a terminal illness, or in and accident. In addition to providing a vast array of life insurance options, we can also provide critical illness cover and income protection insurance.
Especially if your family are reliant on you, providing them with financial support can help them pay for any expenses including mortgage bills and income loss. Some clients have life insurance in place in order to fund their funeral and leave their family some money behind, and our financial advisers can provide advice as to the best way to do this.
Making a claim
When making a claim for your life insurance, there may be instances where you cannot make a claim, for example if your death is as a result of alcohol or drugs, or it was related to an illness you already had when you took out the insurance policy.
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.
To cover your buildings, contents or both.
Buildings insurance covers your physical house, whereas contents insurance covers everything in it that belongs to you, such as furniture and electronics. Combined policies cover both your property and your belongings, and this can work our cheaper than purchasing them separately. Here at AIMS we have access to a number of insurance companies and can offer you competitive prices for all three policies.
Building insurance covers your actual house from damage against things like floods, fires and extreme weather damage. If you are purchasing or re-mortgaging a property with a mortgage then buildings insurance is a mandatory requirement of the lender and needs to be in force at the point of exchange of contracts. Your insurer will either repair the damage to your property or give you the money it would cost to repair it.
As home insurance but for rental properties.
Getting insurance as a landlord is not necessarily the same as getting it for your own home, as you need to be covered for lots of different things. Offering a wide range of landlord insurance policies, we can offer services similar to those of normal home insurance, including buildings insurance and contents insurance. We understand that renting out a property can be a risky process and can be a big financial investment for you, which is why our advisers are here to guide you through the whole property investment process.
As you have likely invested a lot of money in the property you are renting out, it is important to protect your investment in case something unpredictable happens, so we provide many cover options including for damages to the property.
Types of Insurance:
We understand that each landlord has different requirements of how much cover they need, so we have access to a range of landlord insurance options including:
• Rent Guarantee
• Legal Expenses
• Portfolio Insurance
• Landlord Contents Insurance
• Landlord Buildings Insurance
• Emergency Home Cover
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF COMMERCIAL MORTGAGE AND MOST FORMS OF BUY TO LET MORTGAGE.
We offer a comprehensive range of mortgage products from across the market. We offer both first and second charge mortgages, but not deals that you can only obtain by going direct to a lender.
For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. For examples, a further advance from your existing lender or an unsecured loan (e.g. a personal loan). For those seeking a ‘Retirement Interest Only Mortgage’, a ‘Lifetime Mortgage’ may be available and more appropriate for your needs.
Principal: Peter Varney
Aldershot Independent Mortgage Service (Aims) is a trading style of Peter Dane Varney which is an appointed representative of TenetLime Limited, which is authorised and regulated by the Financial Conduct Authority. TenetLime Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.