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    Insurance Services

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Insurance Services

Protection

Protection is an important aspect of having a mortgage and reduces risk of repossession if something happens to prevent you from being able to meet your mortgage payments. During the course of your mortgage application we will advise you what protection will suit your personal circumstances, however even if you don’t apply for your Mortgage through us, we also also offer a search, comparison and advice service with no charge (although please note we will receive a commission from your Provider).

Our priority is to help you understand which insurances will provide the greatest safety to you and your family.

Buildings & Contents Insurance

Not mortgage protection, but one of the products we offer a search, comparison and advice service for. Buildings and Contents is a condition required when you have a mortgage. You will need to have the insurance from the moment you exchange, as you are liable for any issues that arise from this point. Michael Usher Mortgage Services Ltd acts as a credit broker not a Lender.

Life Insurance

A lump sum payable when the policyholder dies or is diagnosed with a terminal illness during the term of the policy (set by you, but usually less than 70 years).Life Insurance is usually taken out to pay off the mortgage.

Whole of Life Insurance

A lump sum payable when the policyholder dies however it is not bound by death during a specific term. Payments are made by the policyholder for the entirety of their life and the amount payable on their death.

Critical Illness Cover

Either a lump sum or smaller payments to assist with life changing events. For example to help with changes to the home, reducing the mortgage, paying off debts or acting as an income. You can choose to have this as a:

  • Level payment – the amount payable remains the same throughout the term e.g. £200,000, or
  • Decreasing – the amount payable reduces with the amount owed on your mortgage.


  • Providers list a range of conditions that are covered however these lists can differ between the different Providers.

    Income Protection

    Monthly payments that provide a percentage (usually around 60%) of your salary if you are have an accident or are diagnosed with a condition that prevents you from working e.g. depression, back pain, broken bones.

    The amount will not be taxed and you can choose between:
  • Full cover – will last as long as the issue preventing you from working does or
  • Budget cover – which only lasts for a total of 2 years.
  • Accident, Sickness and Unemployment

    Monthly payments that replace your Income for 2 years if you are unable to work due to an accident or sickness, or 1 year for unemployment (if you’re made redundant).

    Mortgage & Lifestyle Protection

    The benefits of ASU and full income protection. LV specific product.

    Family Income Benefit

    Monthly payments that replaces the income of the policy holder when they die. It is a term policy.Example: John earns £24k a year. He takes out a 20 year term policy and dies in the 5th year. For the remaining 15 years of the policy life, John’s family continue to have John’s yearly income. When 20 years is reached, the income stops.

    Relevant Life

    Available for business owners of limited companies so owners can provide individual death in service benefit for employees. Payment is lump sum and the company can claim tax efficient savings.

    Why do I need a Adviser to help me find Insurance?

    In the days of comparison websites the question we often here is ‘Why do I need an Adviser?’ and the response is if you want to see what products are available on the market, then you don’t need an Adviser.

  • You can find the ‘best rate’ on a comparison website.
  • You can apply for the top or cheapest result.
  • You can be refused.
  • You could keep doing this and ultimately destroy your credit rating.


  • Or worse, you could end up with the wrong cover.

    The problem is this. Comparison websites present you with results loosely based on the few questions they have asked about aspects of your personal circumstance, but these few questions will only return to you an example of the products available across the entire market and not those ones necessarily suitable for you.

    Our qualifications enable us to understand how you fit the market.

    Our qualifications and our experience gleamed from submitting 3000+ applications over the last 5 years alone, mean we can identify which providers and products you are more likely to be eligible and approved for. We don’t charge for our advice, but we will receive a commission from your Provider.

    If you have any questions, complete the form below and we’ll get back to you as soon as possible. Otherwise contact one of our offices to discuss further or arrange an appointment.
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