Protecting your mortgage and loved ones.

Buildings insurance covers the cost of repairing damage to the structure of your property and its fixtures and fittings. It usually covers loss or damage caused by fire, explosion, storms, floods, earthquakes, subsidence etc. It also covers risks such as theft, vandalism or damage to your property. Whether you're a landlord or an owneroccupier, buildings insurance isn't compulsory under the law. However, if you have a mortgage then buildings insurance will be a condition of the mortgage and must be at least enough to cover the outstanding mortgage. Your lender should give you a choice of insurer or allow you to choose one yourself. If you buy a house you should take out buildings insurance when you exchange contracts. If you sell a house you are responsible for looking after it until the sale is completed so you should keep your insurance cover until then.

Contents insurance is insurance that pays for damage to, or loss of an individual's personal possessions while they are located within that individual's home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder. Quite often contents insurance is combined with buildings insurance although unlike buildings it is not a condition of the lender that you must have it.

Term assurance plan is a form of life cover, which is normally used for interest only mortgage cover in the event of death or for family protection. It provides coverage for a defined period of time and if death occurs during the term of the policy, then death benefit is payable to the beneficiary.

Decreasing term assurance is similar to term assurance only this time the sum assured reduces over the term of the policy which means premiums can be less than for a level term assurance policy (all other things being equal). Unlike with level term cover, the amount of cover then falls monthly or annually over the term of the plan. This would therefore be most suitable for a capital repayment mortgage.

Family Income Benefit (FIB) is designed to provide family protection to replace income lost on the death of the life assured. Benefits are usually paid monthly as opposed to a lump sum, as this eases the burden of bills, making budgeting more manageable for those left behind.

Critical illness insurance, otherwise known as critical illness cover or serious illness cover, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. It can be set up on a standalone basis or with the combined benefit of life cover (accelerated benefit). It can also be level, decreasing or severity based.

Critical illness insurance, otherwise known as critical illness cover or serious illness cover, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. It can be set up on a standalone basis or with the combined benefit of life cover (accelerated benefit). It can also be level, decreasing or severity based.

Income Protection Insurance is a long-term insurance policy to help you if you can't work because you're ill or injured. As the name suggests it protects your income and as that income lasts throughout your working life, the term generally coincides with the client's chosen retirement date. Quite often though, it is sold in conjunction with a mortgage to protect the debt of the mortgage over the term of the mortgage.

• It replaces part of your income - if you can't work because you become ill or disabled.
• It pays out until you can start working again or until you retire, die or the end of the policy term whichever is sooner.
• There's often a waiting period before the payments start you generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly payments.
• It covers most illnesses that leave you unable to work either in the short or long term (depending on the type of policy and its definition of incapacity)
• You can claim as many times as you need to while the policy lasts