Life insurance is a way to help protect your loved ones financially in the event of death. You choose the amount of cover you need and how long you need it for. In return, your family has the reassurance of knowing that if you died while covered by the policy they could receive a cash sum pay out if a valid claim is made. They could use this to help with household bills, funeral expenses or covering mortgage payments.
Critical Illness Cover
Critical illness cover pays a tax-free lump sum if you're diagnosed with a defined critical illness during the policy term. When you take out a policy you can decide how long it will last e.g. until the mortgage is paid off. If you have children, you may want to ensure your family is provided for if you can’t work. Recovering from a critical illness can also mean extra costs for you and your family e.g. making changes to your home or car. Your pay-out could be used to cover this.
Income protection insurance can provide cover if you're not able to work. You're able to claim a certain amount of your monthly income and is designed to pay out a tax-free monthly sum. Bills still have to be paid when you are ill and this protection can help make sure you can continue paying the mortgage and household expenses whilst you're unable to work.
If people are financially dependent on you, then they may be in financial dire straits if you were to die early. Therefore it is worthwhile taking out life assurance, to protect your family and loved ones if the unthinkable should happen. Life assurance is also much cheaper than most people think.
Do you need income protection? Ask yourself: if you were unable to work due to accident or illness, how would you support yourself and your family? One in six men will be off work for more than six months before they retire as a result of illness or injury. How would you cope if you were diagnosed with a serious illness? It is a startling statistic to learn that one in three people in the UK today will at some stage in their life be diagnosed as having cancer. Healthcare protection can offer valuable peace of mind in the event of the unthinkable. Income protection is much cheaper than most people think. If you would like to discuss your healthcare needs, then please contact us.
Alternatively, if you already have insurance, why not see if you could get the same cover for less? if you would like to see if we can save you money on your existing insurance, please contact us.