Review Your Existing Protection Cover
Have your circumstances changed? Now’s the time to revisit your insurance policies.
By taking a regular stock take of your current insurance cover, you can be better prepared for life’s unexpected events
Many people arrange life insurance or protection when they first buy a home, then never review it again.
But over time, your circumstances can change significantly. You may have moved home, changed jobs, started a family, paid off part of your mortgage, become self-employed, or simply found that newer products offer better value.
Reviewing your existing protection doesn’t necessarily mean replacing your current policies. Sometimes your existing cover remains the best option. Other times, you may be able to improve your level of protection, reduce your monthly premiums, or ensure your policies better reflect your current needs.
At Oportfolio Mortgages, we’ll review your existing protection and help you understand whether it’s still right for you.
Why Should You Review Your Protection?
A protection review is worth considering if you have:
- Moved home
- Increased your mortgage
- Had children
- Got married or entered a civil partnership
- Changed jobs
- Become self-employed
- Started your own business
- Received a significant pay rise
- Developed new financial commitments
- Not reviewed your cover in several years
Even if nothing has changed, reviewing your protection every few years can help ensure your cover remains appropriate.
Review Your Life Insurance
Life insurance is designed to provide financial security for your loved ones if you pass away.
However, the amount of cover you needed five or ten years ago may no longer reflect your current circumstances.
A review allows you to consider whether:
- Your mortgage has increased
- Your family has grown
- Your beneficiaries are still correct
- Your level of cover remains suitable
- New products may offer better value
We can review your existing policy and explain whether any changes are worth considering.
Review Your Critical Illness Cover
Critical illness cover provides a lump sum if you’re diagnosed with one of the serious illnesses covered by your policy.
Medical definitions, policy features and insurer offerings continue to evolve, so it’s worth reviewing whether your current cover still meets your needs.
A review can help you understand:
- Whether your level of cover remains appropriate
- Whether your mortgage has increased
- Whether your family circumstances have changed
- Whether newer policies provide broader protection
Review Your Income Protection Insurance
Your ability to earn an income is often your greatest financial asset.
If your income has increased, you’ve become self-employed, changed careers or taken on a larger mortgage, your existing income protection may no longer reflect your circumstances.
Reviewing your policy can help ensure you’re protecting the income your family relies on.
We’ll help you assess:
- Whether your benefit level is still appropriate
- Your deferred period
- Your policy term
- Any changes to your employment or income
- Whether your current policy continues to offer good value
Why Review Your Cover With Oportfolio?
At Oportfolio Mortgages, we take an independent approach to protection advice.
Our role isn’t to recommend changing your policies for the sake of it. If your existing cover remains suitable, we’ll tell you.
If there are opportunities to improve your protection, reduce your premiums or better align your cover with your current circumstances, we’ll explain your options clearly so you can make an informed decision.
We believe protection should evolve alongside your life, not remain exactly as it was when you first arranged it.
Book Your Protection Review
Whether you’ve recently moved home, welcomed a new addition to the family, changed jobs, become self-employed or simply haven’t reviewed your protection in years, now is a great time to check that your cover still meets your needs.
Our advisers will review your existing policies, explain your options and provide straightforward, independent advice with no obligation to make changes.
We strive for the highest standards of client care and are committed to offering tailored mortgage, insurance and personal protection policies that match the unique aspirations of every single client.
DOWNLOAD OUR LATEST BROCHURE
At Oportfolio, we love inspiring people and helping you to achieve your dreams - buying your own home, making the most of your existing finances, or investing in other properties.
We can help you find the right mortgage because our standing in the London market allows us to get access to the most competitive rates from a multitude of lenders.
To find out more, we invite you to download our latest brochure.
