Marcus and his partner, Ian, are both 38 years old. Marcus is a pilot for a commercial airline and travels to the US regularly. Ian is a chemistry teacher at a secondary school in Harrow. Both are in good health, but Ian's family does have a history of arthritis, although he has shown no signs of having the condition. Marcus' inheritance has allowed them to buy a house with an outstanding repayment mortgage of £86,000. They are looking for protection cover, but do not know what to prioritise. What are their options?
Doros Nicolaou, Millfield Partnership Protection should form the foundation of an individual's portfolio, as other household objectives would suffer if either Marcus or Ian were to die or suffer an illness. In most cases it is recommended that the mortgage and other debts should be settled in the event of either of them dying. Ideally, cover against the occurrence of a critical illness should also be considered, as the likelihood of this happening is even higher than death. A dedicated protection package, specifically tailored to repay the mortgage, could be considered as an alternative. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
