When buying a new home, it is fair to say insurance is not often something that springs to mind. However, having adequate insurance in place is extremely important for you and your family. It can provide you with peace of mind in knowing that should the worst happen, you and your family are financially protected.
Magni Finance can provide expert advice on the various insurance options, from our panel of leading insurers, available to you as part of our service. Should you want to proceed, we can apply to the insurer on your behalf, which can sometimes be a lengthy process, saving you the time to focus on moving into your new property.
In addition, we can put your policy into trust. Putting a policy in trust ensures any insurance claim proceeds are paid to the beneficiaries quickly and will not form part of your estate, meaning it may be exempt from inheritance tax.
You may already have existing cover provided by your employer or separate personal cover. If this is the case, Magni Finance highly recommends reviewing your current policies to make sure they are still adequate for your needs.
Types of Insurances
Life insurance
Pays a lump sum in the event of death
Critical illness cover
Pays a lump sum on diagnosis of a critical illness
Income protection
Pays a monthly amount if you cannot work due to an accident or illness
Family income benefit
Pays a monthly amount to your family in the event of death
Buildings Insurance
Buildings insurance is a mandatory requirement for all mortgage borrowers.
If you are buying a freehold property, it is your responsibility to arrange buildings insurance. If you are buying a leasehold property, the management company is normally responsible for this.
Magni Finance have access to a range of insurers and can arrange cover on your behalf. We also work with high net worth insurance brokers who can cater to those with high value properties and expensive valuable items such as jewellery and fine arts.