When should I put a policy in place?
As soon as possible. The younger you are the better as the cost of putting in place a life policy increases after each birthday. This is due to the fact that you are more likely to get ill at an older age and the insurer has not had the benefit of many claim free years of premium payments. Unemployment insurance is slightly different as this needs to be taken out before any indication whatsoever of redundancies at your company.
Do I need income protection? If so, why?
If living without your wage for a long period of time due to sickness, accident or redundancy would be in any way detrimental to you and/or your family, then yes you will need income protection.
I am self-employed, can I still get income protection insurance?
You can protect your income if you are unable to work due to a sickness or accident but not unemployment. All other insurances are available to self-employed individuals.
What will insurance cost me?
As little as you would like or as much as you can afford. The cost of insurance is determined by many many factors e.g. payment period, term of the policy and amount of cover required. So, it’s a matter of choosing what’s important to you and letting us find which insurer can provide those at a premium you can afford.
I’m not sure which insurance(s) I need. How can I find out?
By talking to us. We know the questions to ask and can advise what is right for you based on your responses.
What are my options?
Take a look around our website. We have set out a list of insurances with explanations and options for each. Once you have familiarised yourself with it then give us a call and we can help further.
Can my plan be personalised to suit me?
Of course! We are a team of specialists that aren’t only authorised to give you advice, but our years of experience means that we know the providers and the products available inside and out. So we can advise you quickly on a plan that meets your needs.
I’m thinking of taking out income protection insurance, how much can I claim?
The maximum amount you could claim each month is different from plan to plan, generally 50-70% of your gross monthly income. Executive Income Protection is a specialist protection that covers both your salary and dividends paid by your company under which it is possible to cover up to 80% of your earnings.
When will the cover pay out after I claim?
The recommended provider will need to see medical evidence and this can often be difficult to obtain from an NHS surgery. For Income Protection you choose a period you can wait before receiving a payment. The actual payment is dependent on the medical evidence reaching the Insurer.
Why should I not rely on state benefits?
The maximum weekly income available from the government is £88.45 per week Statutory Sick Pay or £109.30 (after 13 weeks) if you are self-employed. So, if you need more than that you need income protection.
How do I arrange cover?
Speak to us and we will identify your protection needs. We will then research the whole market and provide you with the most advisable options to your own personal circumstances. Once you are happy we have selected the best and most affordable policy to meet your needs, we will then help you fill in an online application. This can be done over the phone or via email.
Will I be charged for pension advice at outset?
No, we will give you an assessment of your position and the likely range of advice required. A client agreement will be drawn up and you will not incur any costs unless you expressly agree to them in advance.
Will my money be safe with you?
We do not hold client money. If there are investments involved in your advice these will be with reputable firms each individually authorised for their particular role and offer you the relevant protection.
Can I log in to see my investments?
Yes, you can have access to your portfolio 24 hours a day to see live valuations.
What protection to I get by using an adviser?
Personalised advice recommendations by a regulated adviser are covered by the financial services compensation scheme in the event of a claim against the firm which is no longer trading.
What happens if I want to change my adviser in future?
Roxburgh does not hold client money, your investments will be held by authorised insurance and investment companies. You will be able to authorise another regulated adviser to look after your existing arrangements with the company under their agency.
Do you charge for mortgage advice?
Our initial consultation service is free. During your consultation, we will complete a client questionnaire, so that we can give the appropriate advice. We only charge a fee for processing your mortgage, a fee of up to 1% of the mortgage amount may be charged depending on individual circumstances, our typical fee is £495.00, payable on application.
How much can I borrow?
The amount an individual can borrow is based on numerous factors, to establish how much you could borrow please contact us to discuss further.
How much deposit do I need?
The minimum deposit available can be as low as 5%, for buy-to-let mortgages this figure typically increases to 25%.
What is a mortgage in principal?
This is a conditional offer made by a mortgage lender that – provided the information provided is correct – they will in “in principle” provide you with a pre-agreed loan subject to a suitable property being purchased.
Are you mortgage advisors qualified?
All our advisers are fully CeMAP qualified. CeMAP consists of three modules which gives you an extensive knowledge of the UK financial regulation, mortgages policy and practice