Why do I need insurance?
Insurance gives you peace of mind that in the event of unforeseen circumstances, such as unemployment, illness, or property damage you and your dependents have the necessary financial protection in place.
Can anyone apply for insurance?
You must be a UK resident and at least 18 years old at the time of applying.
What kind of insurance do I need?
There are a variety of different insurance products available and each person will have different needs depending on their circumstances. If you’re unsure about the kind of level of insurance you need, an adviser will be able to talk you through the options to help establish the right products for you and your individual needs.
What should I do if my circumstances change?
Your protection needs will change throughout your life as your family situation, employment, and financial circumstances change. It’s important to consider what kind of protection you might need and to review this on a regular basis to take into consideration any changes in circumstances.
Do I need life insurance to take out a mortgage?
In short, you don’t need life insurance to take out a mortgage however, it is something we recommend you seriously consider, particularly if you have people who rely on your income.
When should I take out the insurance?
We recommend that you take out the appropriate insurance as soon as possible, in order to protect you from the unknown. Buildings insurance needs to be taken out at the time of the mortgage.
What happens if I cancel my policy and switch to a new, cheaper one?
If you’ve only just taken your policy, then canceling it should be fairly straightforward.
If you’re further into your policy and want to cancel your life insurance, critical illness, or income protection policy before the term ends, there shouldn’t be a penalty to pay. However, there could be a penalty to pay for the cancellation of buildings and contents insurance.
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Twenty 20 is a trading name of Brook Financial Services Limited which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority. Brook Financial Services Limited. Registered Office: The Old Courthouse, 60a London Road, Grantham, Lincolnshire, NG31 6HR. Registered in England Number: 07311674