Tel: 0844 579 1008

THE EXTRA MILE

"Summit Financial managed to arrange life insurance for me just before my Everest expedition in 2010. They went the extra mile as I was raising money for charity, but I would highly recommend any mountaineer use Summit FS for personal insurance. My cover was set up simply and quickly and they handled the process personally from start to finish."

Pete Sunnucks  - Everest for Heroes

THE PROFESSIONALS CHOICE

 "Without exception, Summit offers the best financial products for people who want to enjoy and push themselves in the mountains. Sensible contingency involves carrying extra food and designing an escape route… it should also include a finance plan.”

Nick Williams, Mountaineer, writer and consultant

THE PROFESSIONALS CHOICE

GUIDES LIKE MIKE PESCOD RELY ON OUR SERVICES

All our life insurance schemes are designed with your sport in mind

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Covering climbers for over 18 years

life insurance services for mountaineers and climbers

Life Insurance specialists for MC of SWe are a trusted membership benefit of the British Mountaineering Council and Mountaineering Scotland

LIFE INSURANCE

To clear your outstanding mortgage balance (Mortgage Protection)  or pay a lump sum if you die (Family Protection).

MORTGAGE PROTECTION

What is a Mortgage Protection Plan?

This plan is designed to provide you with a guaranteed benefit payable on death. The sum assured will decrease over the term of the plan and is normally used in connection with a Capital Repayment Mortgage, where the balance of your outstanding mortgage will decrease over the term. When a claim is made the benefit is paid as a lump sum, which is intended to repay the outstanding mortgage. However the plan does not have to be linked to a mortgage and, if required can be a way to provide a reducing level of cover. The guaranteed benefits of the plan will decrease at a predetermined rate and should be sufficient to always pay off any outstanding loan as long as mortgage rates do not exceed the predetermined rate (usually 6 -10%)
 
The plan can be set up on a single or joint life basis, usually with your spouse or partner.

FAMILY PROTECTION

Provides a lump sum to help your dependants manage financially if you die.

Its aims

A Level Term Assurance plan aims to pay a guaranteed lump sum if you die during the term of the plan.
 
What is a Level Term Assurance?
This plan is designed to provide you with a guaranteed benefit payable on death. The plan can be set up on a single or joint life basis, usually with your spouse or partner. It is also possible to take out the plan on a life of another person, provided an insurable interest exists between you and the other person. You will only have an insurable interest in the life/lives assured if you will suffer financial loss on their death.
 
The plan can also be suitable for businesses and partnerships that wish to safeguard themselves against a potential financial loss if one of the principals of the business were to die.

Potential Optional Benefits

Terminal Illness Cover

This is often included at no extra cost and would pay out the benefits of the plan if you were diagnosed with a terminal illness during the term of the plan (excluding the last 18 months). Terminal Illness is defined as advanced or rapidly progressing incurable illness where, in the opinion of an attending consultant and the insurance companies chief Medical Officer, the life expectancy is no greater than 12 months. After a claim your plan will cease.

Critical IIlness Cover

This benefit is usually taken as an optional benefit to a Mortgage Protection or Family Protection plan. Critical Illness Cover would provide a lump sum benefit on diagnosis of a Critical Illness covered by the policy. The amount of benefit paid would be the same amount as your basic death benefit. After any claim the plan would cease. Apart from the main Critical Illnesses, for example HEART ATTACK, CANCER, STROKE, cover can also be included that may be pertinent to your sporting activities for example TRAUMATIC HEAD INJURY or TOTAL PERMANENT DISABLEMENT.

Not to be confused with Terminal Illness Cover which is usually a free benefit on a Life Insurance policy that simply pays out the death benefit early if you are diagnosed not to survive longer than 12 months.

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