One of our existing clients daughters, Ms. Cox. and her partner Mr. Hewitt, recently approached Fernleigh Wearden & Co about some mortgage #protection they had taken out several years earlier.
The situation
A client has the following plans;
A joint mortgage protection plan in place so that if either client passed away between now and the end of the mortgage term, their mortgage will be repaid.
Income Protection for Mr. Hewitt, so that if they are off work due to accident or sickness, he will receive an income from the insurance company to replace his current employment income.
The client’s aims
They were paying £65 a month for this cover, and they wanted to know if they could get the same or similar cover at a cheaper cost.
What we did
Fernleigh Wearden & Co obtained mortgage protection cover with an alternative provider at a cheaper monthly cost.
Fernleigh Wearden & Co obtained income protection cover with an alternative provider for a cheaper cost.
We also added an extra amount of life cover for Mr. Hewitt so that if he did pass away, as well as the mortgage being repaid, his partner would get an additional lump sum to support the upbringing of their children.
The result
We obtained for the client the same amount of mortgage and income protection they already had plus some extra life cover on top of this amount, all for a cost of £58 a month, a saving of £7 per month, exactly as requested.
The cost to the client
Mr. Hewitt & Ms. Cox chose the option of Fernleigh Wearden & Co being paid a commission by the chosen insurance company for placing the business with them. This meant that there were no additional charges payable by them and they were £7 a month better off moving forward.
As independent financial advisers in Preston, Fernleigh Wearden & Co will obtain the cost of life cover, critical illness and income protection insurance with all available providers in the industry which meet our stringent due diligence checks. This often means that we can obtain comparable cover at a reduced cost to our clients, without obligation, as many banks and other advice companies may be ‘tied’ to a set list of providers.
Ask us for a quote, or for details of our service offering. There is absolutely no obligation to proceed.
We are a Financial Conduct Authority regulated Financial Advice company, based in Goosnargh, Preston.
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