Insurance Options

Services

Payment Protection Insurance

Life insurance

Building insurance

GTP Mortgage & Financial Services

Our experienced insurance experts will help you to protect the structure and contents of your home against a variety of risks. Throughout the process, we’ll work with you to assess your needs and ensure you have a sufficient level of protection for yourself as well as your home. With access to a panel of providers, we can help find the cover that’s right for you and at a price that works.

Insurance

Plan for unforseen circumstances

Any questions?

If you have any questions at all, please give us a call.
We are more than happy to provide you with more information.

GTP Mortgage & Financial Services

Payment Protection Insurance

Missing a mortgage payment may turn out to be more than just a hassle. In the worst case scenario, it may result in repossession, which is why payment protection insurance is a must for those who think about their future.

Insurance
What are the different types of payment protection insurance?
When it comes to Mortgage Payment Protection Insurance, there are mainly 3 policies to consider: unemployment only, accident and sickness only, and accident, sickness and unemployment.

If you choose unemployment only then the cover is effective if you’re made redundant as long as you are registered as unemployed and actively looking for alternative work.

Accident and sickness cover will protect you for a suspended period of time in case of an accidental injury or long-term illness when you’re not fit to work yourself.

Should you choose to insure yourself for accident, sickness and unemployment, there’s a policy for that too.

Should I get mortgage payment protection insurance?
This question will depend on your current circumstances and whether you need it. However, this type of cover can provide invaluable reassurance when it comes to making the big decision to own your own home. Mortgage payment protection insurance is there to help with your mortgage repayments until you can return to work or have found new employment.

If you are not quite sure which insurance will suit you best, then contact our team, as there are options available which might mean you don’t need to go for separate insurance coverage.

Life Insurance

If you have a family that depends on you having life insurance is very important. It’s there to provide money in the event of your death during the term of your policy.

Insurance
What does life insurance cover?
Life insurance is designed to help your family cope financially in the event that you pass away. It’s there to provide help to your loved ones when they’re unable to rely on your income. The money that they’ll receive can be used to cover funeral costs, clear outstanding debts or cover ongoing expenses.
What benefit will be paid?
If you choose the family income benefit option, then your beneficiaries will receive a regular income similar to a wage or salary in the event of your death which can be easier to manage rather than one lump sum. But the life insurance policy may as well pay out a lump sum, should you choose a plan that has that option.
What is level term insurance?
Opting for level term insurance means you can choose the amount of cover you require and how long the policy will run for. The policy will then pay out the amount you are insured for if you die before the end of the term, but it is worth noting that if you die after the term is finished, the account is completed and there is no payout.
What does decreasing term life insurance cover?
Decreasing cover has a decreasing death benefit every year and is typically used to match a mortgage being paid off. It is often purchased in order to clear a specific debt by those who want to make sure their mortgage will be settled after their death. Please note it may not be right for someone with an interest-only mortgage. This is because the capital debt is only repaid at the end of the mortgage.

Building Insurance

Buildings insurance policy protects the structure of your home – the walls, roof, floors – and any fixtures – built-in wardrobes, bathroom suites, fitted kitchen – against damage.

Insurance
What does building insurance cover?
Building insurance will cover the physical damage of building structure and garden or grounds and any incidents that happen relating to both. This is likely to include cover for fire, lightning strikes, storm damage, gas explosions, falling trees, earthquake, vandalism, vehicle collisions with the building or any issues associated with floods or leaks from plumbing.
What buildings insurance might not cover?
It’s important to remember building insurance policies will vary depending on the provider you go with. There are some cases where repairs may not be covered by building insurance. These can include general wear and tear, pest infestations, poor workmanship, unoccupied or empty property, frost damage, damp, mould or rot, Do It Yourself (DIY) incidents or intentional damage.

WE’RE EXPERTS

With dedicated experience and knowledge of the mortgage industry, GTP Mortgage & Financial Services can offer comparable quotes for your mortgage by looking at the whole of the mortgage market.

dedicated case managers

We’ll ensure you have access to a dedicated case manager who is able to quickly oversee your mortgage application right from your initial enquiry to the completion of your mortgage application.

Free initial advice

We’re able to provide you with an initial mortgage consultation, which is free of charge and without obligation. We firmly believe that everybody should always have access to quality mortgage advice.

We are here to find the most suitable offer for your needs and provide you with a personalised mortgage option. Rest assured, we will give you all the details you need before deciding to take on a mortgage, so contact GTP team at 01434 700077 and we will provide you with free initial advice.

Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against the loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk

Insurance