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Why we don’t sell Life Insurance

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    At My Simple Mortgage, the experts you speak to are called Mortgage & Protection Advisers. And whilst the mortgage part is pretty obvious, it might not be so clear what we mean by protection. So we wanted to explain why it’s in the job title, why it’s so important, and why it’s not something we “sell.”

    When you take out a mortgage, or even if you’re not at that stage yet, chances are you’ll have heard of Life Insurance. You often see it advertised these days on tv and online. So why do we call it “protection”?

    When we arrange a mortgage for you, it’s really important that you understand what happens to you if you suddenly become unable to work and keep up repayments on the mortgage, or if you were to pass away unexpectedly and you have family who were relying on you and your income to keep the mortgage and home they live in. Your adviser will ask some pretty direct questions about this because as an ethical company, we have a duty of care to you make sure that you understand all the risks AND you know how to PROTECT yourself against them. That’s why we call it protection.

    And that protection mainly comes in three different forms:

    Life Insurance – This is a policy that will pay out a cash lump sum on the event of your death. This means that whoever remains, such as a partner or children, can repay the mortgage and keep their home. You can even provide for more than your mortgage is worth to leave them a significant sum of money to live on as they adjust to a new life.

    Critical Illness – This is a policy that will pay out a cash lump sum to you should you be diagnosed with a listed medical condition. It means you can concentrate on getting better, medical treatment, making alternations to the home if needed, or in some cases, take the family on a dream holiday to Disney Land to make memories.

    Income Protection – This is a policy that will pay out monthly installments for a set period of time should you be unable to work due to an accident or long-term illness. It gets paid directly to your bank account and isn’t attached to the mortgage. It’s there for you to meet your monthly commitments while you recover. Some polices last for two years, while some can even keep paying out until you retire.

    We never insist that you take out any of these policies. We don’t set our adviser targets either. And that’s because we don’t “sell” this product. But we do make arrangements for you when you’re borrowing large sums of money to make sure you and your family are safe. We have a duty of care to you as our customer to make sure you understand all the risks, and have access to the right protection you need.

    James Adams

    James Adams


    Founder & Co-Director, My Simple Mortgage. Has helped thousands of people purchase their first home. Dreaming up ways to change the norm and challenge the status quo.

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