Personal protection is vital so that if your circumstances change unexpectedly you and your family can remain in your home. Whether its life insurance or a policy to help replace your income, there are a wide range of options available, and we can help arrange the best policy for your needs. Whether you own or rent your home we are still able to help protect you and your family.
Protection
Life Insurance
This is the most common type of protection and it will pay a lump sum (sum assured) in the event of the policy holders death. Homeowners will often use it to protect their mortgage debt but you may just want to make sure there is a sum of money to cover your family’s living costs should you die.
Decreasing Term Assurance is cheaper than other types of life insurance and it mean the sum assured (lump sum) will reduce, typically in line with your mortgage balance.
Level Term Assurance will provide you with a sum assured which doesn’t decreased throughout the term of the policy. Level Term Assurance can be useful where your beneficiaries require a surplus to be available after your mortgage has been paid off.
Critical illness can be added to either terms above, please see below for more information. With a wide range of plans available seeking assistance from a financial adviser is imperative.
Critical Illness
Critical Illness will pay out a lump sum (the sum assured) upon diagnosis of a critical or serious illness. A lump sum can be a useful to provide you with some money if you are unable to work and you don’t receive sick pay. It means you can take the time to have treatment and go through recovery without the stress of having to work. But even if you are still able to work you will still receive your lump sum, if your claim is successful.
There is also the option to add Children’s Critical Illness Cover to some policies, meaning that if your child is diagnosed with a critical illness you would receive a lump enabling you to take the time off work whilst they are going through treatment and recovery.
There is a long list of illnesses are covered by most providers and often some lenders will cover different illnesses to others, therefore, it is essential you consult a protection adviser to ensure the most appropriate policy is arranged for you.
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Feel free to get in touch with us to explore your options and find the best solution tailored to your needs.
Income Protection
Income Protection can be a way of providing you with a regular monthly income should you be unable to work due to illness or injury. Many employers don’t offer sick pay and government benefits can be too low to cover your mortgage and living costs, Income Protection gives you the security of knowing you can still pay your household bills if you’re unable to work.
Family Income Cover
Family Income Cover is a form of life insurance or critical illness which will pay a monthly amount should you die or be diagnosed with a critical illness. If anything was to happen to one person in the home, you may struggle to keep up with your general living costs with a significant salary being lost. Having this protection ensures your loved ones are not left in an unsteady situation if the worst was to happen.
Other Protection Benefits
Many protection providers offer other benefits if you take out a policy with them. This means you and your family could have 24/7 remote access to GPs, mental health support, physiotherapy sessions, global treatment and quick diagnosis of some illnesses. These additional benefits differ between different providers so please get in touch to find out more.
Contact Us
Don’t hesitate to reach out and discuss your options with us. We’re here to help guide you through the process.