Buying a home is one of the most exciting times in your client’s life. It’s also likely to be one of their biggest financial commitments. It can take your clients years to save enough money to afford to move into their dream home. In fact, recent figures suggest that it takes young families, on average, 12 years to save up enough for a 20% deposit on a home¹.

But simply arranging a mortgage for them is only half the job. If something happens that means your clients can’t keep up with their mortgage payments, pay their bills and maintain their current lifestyle, it could put a big strain on them financially and could ultimately lead to them losing the home they’ve spent years saving for. How would you feel, as an adviser, if your client contacted you because they’d lost their home, after spending years saving for it, and you hadn’t discussed their protection needs?

‘The state or my employer would look after me’

There’s a common misconception that if you’re unable to work, you’d be able to rely on your employer, the state, or even your life savings to provide help financially. But, research suggests otherwise:

• 55% of people said their savings would last less than three months if they were unable to work²
• Only 3% of people would receive sick pay for more than a year²
• The average family would need to cut their household expenditure by 48% to survive on Employment and Support Allowance³.

A better protected home means more than just Life Cover

It’s important to advise your clients to have Life Cover to protect their home in the event the death, but this isn’t the only thing that can put their home at risk. In fact, you’re up to 26 times more likely to be incapacitated and off work for more than six months, than you are to die before the age of 65⁴.

If they become seriously ill or incapacitated and are unable to work, their earnings may be affected which will mean repaying the mortgage, paying their bills and maintaining their current lifestyle could be more difficult.

That’s why we’ve developed the Mortgage Plus Plan. It gives your clients all of the protection that comes with traditional Life Cover, as well our unique Mortgage Incapacity Cover which gives extra cover for severe illness or injury at no extra cost. So if your client is unable to work because of an illness we cover, they’ll get up to 24 monthly payments to help you pay the mortgage, pay their bills and maintain their current lifestyle.

Making the Protection conversation easier

It doesn’t have to be difficult to talk to your clients about their protection needs. Unlike with traditional insurers, our policies come with access to our healthy discounts and rewards, so you can talk to your clients about protection in the context of health and wellness, not death and illness. And by advising your client to take out the right protection, you won’t have to worry about them not being financially equipped should the worst happen.

Find out more

To find out more about our unique Mortgage Plus Plan, please speak to your Business Consultant or visit vitalitylife.co.uk/adviser.

¹Daily Telegraph, Families face 12-year slog to save a mortgage deposit, Jan 2015

²FT Adviser

³Drewberry Insurance, Protection Insurance Survey 2015

⁴DWP WPLS data May 2007