Insurance Declaration - EJF Logo

  • Insurance Declaration

  • Family sitting in a garden representing the value of insurance

  • Following our discussion, you understand that there are four main areas which may affect your ability to stay in your home.

    This document will help you understand your needs, the risks of not having the right insurance in place, and enable you to make an informed decision. 

    We have made you aware your home is at risk if you do not keep up repayments on a mortgage or any other loan secured upon it.

  • No Income

  • An animation of a woman putting a hand on her face emphasises on the need to protect your income

  • If your income stopped, you may have to rely on sick pay (if you have it) and state benefits. These last for a limited period and will be lower than your income.

    There are products which can take this worry away.

     Potential options we discussed were:

    ·       Long term Income Protection

    ·       Mortgage Payment Protection

    ·       A regular income related payment to your family if you die or are diagnosed with a terminal illness

  • Life changing illness

  • An animation of a person in a hospital bed need support for a life changing illness

  • Should you become seriously ill, you can arrange insurance to cover monthly payments or to provide a lump sum to pay off debts, pay medical bills or provide care. This will allow you to focus on your health not your finances.

    Illnesses covered include, heart attacks, strokes, and cancer, plus many more.

    Life insurance can be used to pay off the mortgage and help cover other costs. These may include additional benefits such as access to online GP’s, second medical opinions and help with health & wellbeing all at no extra cost.

  • Death

  • An image of a girl who has lost her parents emphasises the need for life assurrance

  • If you die during the mortgage your family may struggle financially. This could threaten their home and lifestyle.

    Life insurance can be used to pay off the mortgage and help cover other costs. These may include extra benefits such as, online GP’s, second medical opinions and counselling all at no extra cost.

  • Property damage/loss

  • An immage of a house on fire that emphasisies on home insurance

  • You can have home insurance on your buildings and contents. This is normally arranged as a combined policy, but you can arrange one without the other.

    Buildings Insurance is often a condition of a mortgage so should be in place by exchange of contracts.

    Your lender may request to see the policy to check if the cover meets their requirements.

  • Insurance Declaration

  • An image of a man, a woman and two children

  • Important!

    The sections above are focused on your needs for someone taking out a mortgage. Failure to meet your monthly commitments can have a long-lasting impact and it is important that you give these areas serious consideration. You should think about your other personal protection insurance needs as well.

    Life Insurance must be set up correctly so that in the event of death, the money will pass as quickly as possible to the right people, this is done by writing the policy into a Trust.

    It is recommended you make a Will. Should the worst happen your wishes will be followed in regard to your estate. If you would like help with this, let us know.

  • I/we have read the information in this document relating to this type of insurance, and understand the risks connected with a mortgage.

  • Declaration

    I/we confirm that I/we have read and understood the above
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