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Protection

Life Insurance

Life Insurance (sometimes known as Life Assurance) helps provide financial security for people who depend on you, should you die.

Although money can’t replace a loved one, it can help those left behind to weather the financial storm. For example, it could pay off the mortgage or provide an income to help cover regular household expenditure.


Payment Protection

Payment Protection Insurance and Short Term Income Protection Insurance can provide a monthly income to help cover your regular outgoings if you can’t work due to an accident, illness/injury or, often as an optional extra, unemployment.

There are important differences between these products, and Income Protection Insurance. They include a limit on how long the replacement income will be paid for – usually between 12 and 24 months.


The value of Protection

Far from being a luxury, Protection Insurance should be considered essential, especially if you have a family or people that rely on your income.

If you suffered a serious illness or injury, you may lose your income . This could lead to you losing your home.

Similarly, if you died, your loved ones may be unable to maintain their current lifestyle without your income.


Critical Illness Insurance

Critical Illness Insurance pays out a tax-free lump sum on the diagnosis of certain life-threatening or debilitating (but not fatal) conditions including heart attack, stroke, cancer and major organ transplants.

This list will vary depending on the insurer, as will the exclusions for making a claim.


Income Protection Insurance

Income Protection Insurance pays out a regular tax-free replacement income if you become unable to work because of illness, injury or, with certain policies, unemployment.

It could help you keep up with your mortgage repayments and other living costs until you’re able to return to work.


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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE