Insurance

There are many types of cover available from a number of different providers therefore it is important that you seek advice when looking to get protected. At BHV Finance we complete a gap analysis to identify where you may need cover and present you with a bespoke illustration.

Life Insurance is a policy that pays out a lump sum in the unfortunate event of the policy holder’s demise. Life insurance plans can facilitate a number of aspects ranging from family protection to wealth transfer. Policies can also be owned by a trust as part of your legacy planning.

Critical Illness Cover typically pays out a lump sum in the unfortunate event of the policy holder being diagnosed with a critical illness as defined by the provider. There are a number of reasons as to why you may take out critical illness cover, this can range from cover to pay for the best doctors/treatment to having the peace of mind that you will not be at a financial detriment whilst recovering from an illness.

Income Protection, receive a regular income to replace a loss of earnings in the event of an accident, sickness or loss of job through no fault of your own. The benefit amount will be an agreed percentage of your salary each month.

Family Income Benefit, unlike life insurance which pays a lump sum upon the policy holders’ demise, Family income benefit pays a regular tax-free income to your loved ones until the end of the policy term. This can help your loved ones with committed and lifestyle expenses.

General Insurance is non-life insurance, such as home, motor, travel insurance etc.

There are two types of Home insurances; Building insurance which covers the cost of repairing damage to your property, this may include damage caused by accidents, floods, fires etc & Contents insurance which covers the cost of replacing your contents that may have been damaged, destroyed or stolen.

Although it is not a legal requirement to have home insurance, most mortgage lenders will insist that you have buildings insurance as a minimum and will require to see the policy before you complete on your purchase. If you are buying a leasehold property, you may not need to buy buildings insurance as this is the freeholders responsibility.