About Us | Our Approach | Testimonials | Our Blog | Contact Us
About Us | Our Approach | Testimonials | Our Blog | Contact Us
Although protection is important, many of us do not have protection insurance cover in place. We insure our homes and contents, pets and mobile phones, but often forget about protecting what is most important, ourselves.
You may want to think about how you would manage to pay your mortgage if you were unable to work because of illness or injury, or how your loved ones would cope if you died. Could you or your family expect the same standard of living without your income?
You could end up on state benefits once any sick pay runs out, or if you are self-employed, you may have no financial safety net at all.
There are several kinds of insurance that you could look at to safeguard your income, your home and your ability to pay for it:
Life Insurance pays a guaranteed cash lump sum if you die during the term of the policy, this could help repay a mortgage or loan or provide financial support for your family.
A serious illness could have a major impact on your life and your ability to earn a living. Critical Illness Cover is a long-term insurance policy where you would get a tax-free 'lump sum' as a one-off payment, if you are diagnosed with one of the serious illnesses covered by your insurance policy. It is designed to pay off your mortgage, debts, or pay for alterations to your home such as wheelchair access should you need it. Critical Illness cover could give you the financial protection you would need to help you cope, by paying out a lump sum if you are diagnosed with one of the critical illnesses specified in the policy.
The vast majority of people have to go to work simply to earn an income on which to live. If that income were to stop for whatever reason, ask yourself how would you manage? Could you survive on your savings or on the sick pay from your employer? If not, then you will need to consider some other way of paying the bills.
Income Protection Insurance provides you with a regular income if you cannot work due to sickness or accidental injury. It can help to maintain your family's standard of living by providing a monthly income to help pay your mortgage, other debts or household bills.
Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income.
Building's insurance is an insurance policy that provides you with financial security when it comes to the structure of your house and provides cover for not only your home, but its fixtures and fittings, and extras such as your patio, swimming pool, driveway, walls, hedges and gates. It is a requirement of your mortgage to have Buildings Insurance.
Is an insurance policy that provides you with cover for household goods and contents against situations beyond your control, such as damage due to flooding, fire, storms, and subsidence.
Whole of life insurance (as you might expect) is a policy that covers you for the whole of your life i.e. it pays out whenever the policyholder dies. This is different to a normal life insurance policy which has a fixed duration, which will only pay out if you die before your policy ends.
Family Income Benefit is a life insurance policy that provides your dependants with an income from the death of the insured until the end of the policy term.
The income is normally tax free and the money that the policy pays out can be used for whatever purpose your dependants require. Premiums can be paid monthly or annually by direct debit from your bank account.
These policies are suitable for people with young families who wish to protect against the loss of income provided by either or both parents.
