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PrismFinancial
We are independent financial advisers specialising in mortgages, protection, and insurance services.
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ARTICLES
Life Insurance and Income Protection
PrismFinancial 2021-06-14
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Life Insurance and Income Protection cover pays out if you are unable to work due to illness or injury, however it will not pay out in the case of redundancy.

The primary difference between an Income protection insurance policy and Critical Illness Insurance policy is the amount and frequency of pay out.In an Income protection claim the pay out is periodic and generally a percentage of earnings usually 60% to 70% paid out on monthly basis and the said payment are exempt from tax, as compared to Critical Illness claim which makes a one-time lump sum pay out.The pay out under Income Protection policy begins after the end of a pre agreed period know as a deferral period, the shorter the deferral period the higher the premiums, the usual deferral period is between 13 to 26 weeks.

While seeking Income protection cover, it is essential to check with your employer the cover they have in place to support you as an employee for the time off work.Life Insurance is a protection product which helps to provide financial security and cover to your dependents, family and loved one’s in the unfortunate event of death.

The said money that is paid out as a claim from the policy, can be very useful to the dependents to continue the lifestyle they are used to.

The funds received can replace a loss of income and could be used to pay off debts like Mortgages, which can reduce a huge financial burden.

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Mortgage Brokers for First Time Buyers
PrismFinancial 2021-06-12
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A Buy to Let mortgage is essentially an investment made by the borrower where the objective is to rent the property rather than reside in it as their primary home. Buy to Let mortgages are generally more expensive than a standard residential mortgage with lenders expecting higher deposit amounts to be put down by the borrower and the interest rates can be higher too. In most cases, a Buy To Let mortgage will be taken out on an Interest the only basis, rather than a Capital repayment basis. On an Interest, only the borrower would repay only the interest component to the lender, while the capital would still be outstanding at the end of the mortgage term. To ensure that the customer will be able to repay the capital at the end of the term, the lender may require details of the proposed repayment vehicle. The eligibility of a Buy to Let mortgage is assessed by lenders differently from the way they would assess a Residential Mortgage.
collect
0
Life Insurance and Income Protection
PrismFinancial 2021-06-14
img

Life Insurance and Income Protection cover pays out if you are unable to work due to illness or injury, however it will not pay out in the case of redundancy.

The primary difference between an Income protection insurance policy and Critical Illness Insurance policy is the amount and frequency of pay out.In an Income protection claim the pay out is periodic and generally a percentage of earnings usually 60% to 70% paid out on monthly basis and the said payment are exempt from tax, as compared to Critical Illness claim which makes a one-time lump sum pay out.The pay out under Income Protection policy begins after the end of a pre agreed period know as a deferral period, the shorter the deferral period the higher the premiums, the usual deferral period is between 13 to 26 weeks.

While seeking Income protection cover, it is essential to check with your employer the cover they have in place to support you as an employee for the time off work.Life Insurance is a protection product which helps to provide financial security and cover to your dependents, family and loved one’s in the unfortunate event of death.

The said money that is paid out as a claim from the policy, can be very useful to the dependents to continue the lifestyle they are used to.

The funds received can replace a loss of income and could be used to pay off debts like Mortgages, which can reduce a huge financial burden.

Mortgage Brokers for First Time Buyers
PrismFinancial 2021-06-12
img
A Buy to Let mortgage is essentially an investment made by the borrower where the objective is to rent the property rather than reside in it as their primary home. Buy to Let mortgages are generally more expensive than a standard residential mortgage with lenders expecting higher deposit amounts to be put down by the borrower and the interest rates can be higher too. In most cases, a Buy To Let mortgage will be taken out on an Interest the only basis, rather than a Capital repayment basis. On an Interest, only the borrower would repay only the interest component to the lender, while the capital would still be outstanding at the end of the mortgage term. To ensure that the customer will be able to repay the capital at the end of the term, the lender may require details of the proposed repayment vehicle. The eligibility of a Buy to Let mortgage is assessed by lenders differently from the way they would assess a Residential Mortgage.