Pets and gadgets a higher priority when it comes to insurance!

Wednesday, June 20th, 2018

Seemingly, many UK homeowners will take out insurance for their pets and their ‘gadgets’ before they will put in place a suitable personal protection portfolio to protect themselves, their home and their family.

Although a mortgage is the biggest commitment most people will ever take out, many decide not to take out suitable protection such as life insurance, income protection cover or cancer and critical illness cover. The reasons why people do not take out the correct type of insurance are in our experience many and varied, but the most common reason is that they do not believe they will ever need it.

Time for a reality check?

It is understandable that some people do not want to consider the prospect of death, cancer, serious illness or even just being unable to work for a prolonged period, but the reality is, for many the chances of them being affected by one or more of these during the time they have a mortgage can for some be very high.

A small price for peace of mind?

In some scenarios, life insurance can be relatively inexpensive, depending of course on a number of influencing factors such as age, smoker status and medical history. Even so, many mortgage borrowers still neglect to protect themselves and their family against “the unexpected”.

Life insurance, for when tomorrow never comes…

As life insurance, income protection and cancer cover are optional, unlike car or home insurance which is compulsory, many people leave it until “tomorrow”, which for some sadly never comes! Even though many insurance providers have and continue to spend huge sums on media advertising to raise awareness, and many more people are surviving conditions such as cancer, the number of people taking out appropriate life insurance, income protection and cancer or serious illness cover has not reached the levels the industry regulator or Government had hoped for.

Insure your personal money making ‘machine’

As the old adage goes, “if you had a money-making machine would you insure it?”, to which most people would reply “yes, of course”, not realising that the money making machine is actually them!

So, if you would like some expert help to find the right life insurance cover for you, or perhaps would just like to know more, call our team here at Caboodle Finance of Sutton Coldfield, Birmingham on 0121 308 9114 or alternatively, just click HERE to contact us via the website.

We very much look forward to hearing from you!

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 7.65% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2017 Caboodle Financial Services Ltd