Cover that helps you through a bad patch
SHORT-TERM PROTECTION
Though you may only be out of work for a short while, protecting your income is imperative.
COVER FOR THE SELF-EMPLOYED
If you run your own business, we can help you find the most suitable plan to offer income support if you’re unable to work due to illness or injury.
COMPETITIVE
QUOTES
We can help you access a number of short-term income protection options from a range of providers.
TAILORED TO
YOU
You'll always get a personalised service based on your specific needs. What's more, we'll do all the paperwork for you.
Understanding Short-term Income Protection
Similar to standard income protection insurance, short-term policies provide coverage if you're unable to work due to illness or injury. The key distinction is that short-term income insurance offers protection for a fixed duration, making it ideal for those seeking a policy whilst also looking to keep monthly costs down.
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If you're receiving statutory sick pay, income protection insurance can help manage your monthly income and expenses, ensuring bills, mortgage, and other expenditures are covered despite a reduced income. For more extended absences, long-term income protection may also be a worthwhile consideration.
What are the benefits?
Short-term income protection will offer you financial support when you’re unable to work. It goes much further than statutory sick pay, for example it will provide you with a monthly benefit until you return to work or for an agreed period, usually a maximum of two years.
How is it useful?
Insurance for income protection is particularly useful if: •You don’t have any savings •You run your own business •You have minimal sick pay entitlement with your employer It’s important to remember there is often a period between when you stop working and when you start receiving payments.
What isn’t covered?
Some scenarios will not be covered by these policies, they include: •Pre-existing health conditions or illnesses •Self-inflicted injuries •Voluntary redundancy •Seasonal unemployment
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Do all mortgage brokers charge fees?No, not all mortgage brokers charge fees, and Beechwood Mortgages is proud to be offering fee-free mortgage services to first time buyers in 2024. (terms & conditions apply) As a mortgage broker, we earn our fees directly from the lender, so in most cases you don't have to worry about paying any additional fees for our assistance. We are committed to helping you find the best mortgage deal without adding any financial burden. Our goal is to make the mortgage process as transparent and cost-effective as possible for our clients. Check out our full fat version Do All Mortgage Brokers Charge Fees? for a complete rundown on broker fees and what to look out for.
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What does a mortgage adviser do?A mortgage advisor will do the leg work for you, offering in-depth knowledge of the property lending market, helping you overcome challenges, and offering exclusive access to a database of banks and building societies. What's more, they offer a level of support that streamlines the entire process. You can learn more by visiting our article, Benefits of Working with a Mortgage Broker.
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How can I get the best mortgage advice?You can seek advice on mortgages directly from lenders such as banks or building societies. Alternatively, you can go to a whole of market mortgage advisor or broker who will search and compare numerous products at the touch of a button. Check out Benefits of Working with a Mortgage Broker for more information.
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Is mortgage advice free?The cost of mortgage advice depends on the terms and conditions of the broker / adviser you are working with. Many mortgage brokers will charge for their services and the amount payable will usually depend on your requirements, their own workload and perhaps on the value of your mortgage. We offer a free consultation every time and will quickly confirm if there will be any charge for our services and support. In the majority of cases, we will receive a commission from the lender once a mortgage starts. It’s important for you to clarify terms and conditions with mortgage advisers from the start so that you are aware of any charges and financial responsibilities you may incur. Check our Fees page for a full rundown on broker fees. You can also visit our page Do All Mortgage Brokers Charge Fees? for further information.
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Do banks charge for mortgage advice?No, banks will not charge an advice fee. You do however need to remember that they will only recommend their own specific products. All lenders charge varying fees and this will be no different if you work with a mortgage broker. Whole of market mortgage advisors / brokers are more likely to provide an impartial perspective on the most suitable and competitive mortgage products and via a huge variety of lenders. Many brokers will charge a fee, for more information check out our article, Do All Mortgage Brokers Charge Fees?
