LNIMS - Independant Mortgage Services

Independent Mortgage Services

Terms Assurance

We're here to protect the things you value most

You work hard. You value your lifestyle and have good work prospects - now you have a home to protect as well. The last thing you want is anything threatening your financial security or getting in the way of your ambitions. But sometimes life just wont go according to plan - and that's where SELF ASSURANCE Mortgage can help protect your home and your lifestyle against the financial consequences of unexpected events.

You may think, 'It won't happen to me' but what if it did?

Most lenders insist that you at least have death benefit to cover your mortgage. And this is very important protection to have. But other events, such as serious illness, disability and unemployment could threaten your ability to make your monthly mortgage repayments.
What if you or your partner couldn't work because of sickness or accident?
We tend to take it for granted that we'll always be able to work, but imagine what life would be like if we couldn't. Could you pay your mortgage or support yourself without a salary? You may be able to live on your savings for a while but a long period off work could seriously affect your future plans and even put your home at risk.
What if you or your partner became seriously ill?
We all hope that we'll lead a long and healthy life and many of us put a lot of effort into making sure that we stay healthy. But sometimes serious illness can strike without warning and it could have a devastating effect on your finances.
You risk losing your home if you can't make your mortgage repayments. You may have to put a promising career or promotion on hold. Your lifestyle may have to change to help you get better. You may need to make changes to your home or even move. You may recover from a critical illness but your finances and your lifestyle may not.
What if you were made unexpectedly unemployed?
It is an unfortunate fact of modern life that jobs are no longer guaranteed for life. A recession, take-over, or mergers can lead to unexpected redundancy. A period of unemployment could make it difficult for you to keep up with your mortgage payments.

You can't always prevent these things happening but you can do something about how they affect your lifestyle.

At last - financial protection designed for living

For many of us, protection against the financial consequences of dying or being unable to work, comes low down our list of priorities. With a mortgage, this financial protection is essential. If you take out an insurance product to protect your mortgage, you may soon find out that you cannot change it for your changing protection needs. Not any more.
Cover that's as variable as life itself
Our SELF ASSURANCE Mortgage plan is a product which can provide financial support when you need it most. It can be 'made to measure' and you can change it as your needs change. You can design the plan to fit your lifestyle. With the basic essential need to cover your mortgage at its heart, the plan can change to meet your changing needs.
Obviously you will want your mortgage taken care of if you die or cannot make the repayments for any reason. But later you may also need extra protection for your family. You can do all this with SELF ASSURANCE Mortgage. You keep the same plan, but simply add new protection as you need it. If you move home and increase your mortgage, you can change the plan to meet your new needs.
Life doesn't stand still so why should protection?
We've created a protection plan that gives you a 'menu of benefit options' plus the chance to change your benefits as you go. With SELF ASSURANCE Mortgage the choice is yours. It can do much more than just pay off your mortgage if you die!
You can take advantage of the following benefits either when you take the plan out or you can add. remove, increase or reduce them during the term of the plan.
Death benefit - this will pay out if you die or become terminally ill.
Critical illness benefit - this will pay out if you get a critical illness such as a stroke, heart attack, or cancer.
Death or critical illness -this will pay out if you get a critical illness or die, whichever happens first.
Disability income benefit - this will pay you an income if you have to stay off work for a long period because of sickness, accident or disability.
Unemployment benefit - this will pay you a monthly income to cover your mortgage payments if you become unemployed. This benefit also makes sure that your premiums are paid while you are receiving the monthly benefit.
Premium payment benefit (sickness, accident or disability) - this will pay your premiums if you cannot work because of sickness, accident or
disability.

With SELF ASSURANCE the choice is yours

You choose: You can choose exactly the type of and number of benefits you need. You could take more than one of each of these benefits.
For example, you could take out two separate death benefits - one to pay out a lump sum to cover your mortgage and one to pay out an income to cover specific payments, such as school fees.
You choose: On most benefits you choose the amount you want us to pay, either a one-off cash sum, or an income. You can also choose whether your benefits should be level or increase to help reduce the effects of inflation.
You choose: You can take most benefits over a fixed term between 5 years and 40 years, or over a term of 5 or 10 years, with an option to renew your benefits at the end of the term.
You choose: Each benefit you choose will have its own type of rate. You can choose from a guaranteed rate or a reviewable rate (that's a rate we will review regularly which means your premium may go up or down in future) for most benefits.
For example, you may want some benefits with guaranteed rates and some with reviewable rates - with SELF ASSURANCE you can do this within the same plan.

Authorised and Regulated by the Financial Services Authority

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Written quotations available on request. All loans secured on property. Life assurance is usually required.

Phone: (01423) 552432 Email: info@lnims.co.uk