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We take out insurance to protect our home, contents, travel, cars, mobile phones and even our pets but we forget the most important thing – ourselves, our family and our ability to pay the mortgage and bills should something happen.

If you’re in good health, it’s all too easy to think you’ll never need Life Cover, Critical Illness Cover and Income Protection.  But if serious illness or injury does touch your life, having the right cover that enables you to pay off your mortgage and cover the bills will make all the difference.

Censeo can provide you with the peace of mind that comes with knowing that you and your lifestyle are protected if something should happen.

We offer a range of policies depending on your needs.  These include Life Cover, Critical Illness Cover and Income Protection.

We can talk through the various options available to ensure you have the right policies that are within your budget.

You should think carefully about how you would cover your monthly mortgage payments and other outgoings if you couldn’t work.

At Censeo, we believe in looking after you and your family as well as your mortgage policy.

Life insurance

Life insurance can provide peace of mind that your loved ones would be financially protected if you were to pass away. The lump sum pay-out they would receive can be used to pay vital bills like a mortgage or rent, or to help with the cost of bringing up children.

Life insurance is a type of insurance contract which pays out a lump sum to your dependants should you pass away or be diagnosed with a terminal illness during the term of the contract, in order to provide for them after you’re not around. The cost of a policy is determined by a number of factors including your age, health and lifestyle.

Cover is arranged in the following ways:

Level Term Assurance

This will give you the same amount of cover throughout the life of the policy and will pay out that amount if you make a successful claim.

Decreasing Term Assurance

This is sometimes known as Mortgage Term Assurance and will decrease over the term, usually to match your decreasing mortgage amount and pay out the current amount when a successful claim is made.

Family Income Benefit

This is a Life Assurance plan that pays a tax-free monthly income rather than a lump sum. This makes it easier to pay for the monthly costs of running your household and covering school fees.

At Censeo we can help you decide whether you should take out life insurance, how much you need and how long you need it for. We can find the right policy for you.

Critical illness cover

Although we can probably legislate for temporary periods where we’re unable to be at work, there comes a time for many of us when the illness we’re dealing with is a lot more serious and, in some cases sadly, terminal.

Although we may be fit and healthy now, our health can change quickly and the financial impact of contracting a terminal illness such as cancer can be devastating not just emotionally, but also financially.

However, it is possible to secure your finances against a future illness and ensure that if the worst does happen, you and your family are able to meet ongoing financial commitments such as mortgage payments and also pay for the costs that are associated with attending medical appointments without having to worry about your ability to work.

Critical Illness and Serious Illness insurance policies pay out a cash lump sum when you are diagnosed with a particular illness or suffer injury from a serious accident.

Policies vary depending on the provider, so it’s important to understand the differences.  For example, the number of illnesses covered, definitions, partial payments and claims to pay-out ratios.

In the event of your diagnosis, money paid out from a Critical Illness policy could be used to help maintain your standard of living, pay off your mortgage and, if needed, pay for private healthcare.

Income protection

We all insure our cars and homes but we don’t always look after what pays for it all: our earnings.

How would you pay the bills if you were sick or accidentally injured and couldn’t work?

Most companies offer some level of financial support for employees when they can’t work, but typically this assistance is available for a limited period. Government assistance through benefits are designed to offer some sort of help, but these would be unlikely to cover financial commitments indefinitely.

Income protection policies can be straightforward, simple to arrange and individual to you, providing:

  • An income to help replace any loss of earnings due to ill health or accidental injury
  • An insurance policy that’s affordable and easy to arrange; helping to give peace of mind to you and your family
  • Continued benefits if you go back to work in a reduced capacity, with a reduced salary
  • Tax-free payments under the current rules, although this might change in the future

Income Protection Insurance is designed to typically protect up to 70% of your gross salary if you are unable to work due to accident or sickness.

Income Protection Insurance can cover a wide range of situations and has the potential to pay out for many years, even up until retirement age.

Censeo can talk you through the options available from our panel of well-known insurers and advise on the right policy for you.

Whatever your situation, it will give you peace of mind to know you’re making the right choices.

Censeo Financial is a trading name of Censeo Ltd who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. Censeo Limited is registered in England and Wales, company registration number 06453977, the Registered Address 11b Newton Court, Pendeford Business Park, Wolverhampton, WV9 5HB.

We will charge a broker fee of up to £445, payable on application. The amount we will charge is dependent on the amount of research and administration that is required.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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

Most Buy to Let Mortgages are not regulated by the Financial Conduct Authority.

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