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Insurance

As well as mortgage advice, here at Muscat & Co Mortgage solutions we also offer a wide variety of insurance options. Please see below examples:

Life Insurance

The loss of a spouse or parent can leave dependants with additional issues to cope with other than the emotional. If you are inadequately insured, your dependants may be left with a dramatically reduced household income, which could affect their quality of life. Potentially there may be reduced opportunities for children such as the ability to pay for a university education or difficulties in maintaining mortgage payments on a reduced income which may mean leaving the family home and changing schools.

In the event of your death, a lending institution will not write off your debt. Rather, they will continue to pursue the debt through your dependants and could, ultimately, foreclose on the loan meaning the loss of the family home.

Critical Illness

Critical Illness plans are built around the most common serious conditions, such as:

Cancer*
Coronary artery by-pass surgery
Heart Attack*
Kidney Failure
Major Organ transplant
Multiple Sclerosis
Stroke

Some policies may include other illnesses such as Alzheimer's and Parkinson's disease. Or may include a list of less common conditions, such as blindness or coma.

*Not all types of heart attacks are covered.
*Not all types of cancer are covered.
*Please refer to policy documents to determine the exact specification of any illness's that may be covered

Income Protection / Permanent Health Insurance

Many people make the mistake of thinking that should they fall ill, have an accident or lose the ability to work, the State will step in. Wrong - the rules governing sickness benefit claims have changed dramatically.

Income Protection should be considered if you would not be able to maintain your standard of living on State Benefits alone.

If your regular outgoings are normally met from income, then taking away that income can have drastic and wide ranging implications including inability to meet mortgage and loan payments, as well as basic household bills and living costs.

Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income.

Buildings Insurance

If you don't have this type of cover, you will be responsible for the cost of repairs. Cover generally includes:

Damage caused by fire or flood
Subsidence
Storm damage

These are just a few of the perils covered. The policy can also be extended to protect your property against events like accidental damage.

Contents Insurance

The cover provided can vary and most providers will offer additional protection, at a cost, for things like:

Personal belongings including cash etc) inside and outside the home
Individual items valued over a specific amount
Freezer contents

These are just a few of the extras available. The basic contents cover may not provide all the cover you require and additional areas of cover can be purchased to suit your individual needs. Discounts may be available for those in a neighbourhood watch scheme or for those with a burglar alarm etc.