Protection

There are many different options to choose from and making the right decision at the start is vital.  Whether you are looking for Income Replacement, to allow you to pay the bills when your employer stops paying you, Life Assurance to leave a loved one a lump sum to repay the mortgage, or a Critical Illness policy to enable you to pay off your mortgage or make adaptations to your home, I can advise on plans to meet your budget.

Life Insurance

Life insurance, (life cover), is a policy that is designed to give peace of mind when you die. It will pay out a tax free cash sum to your family or loved ones when you pass on. They can then use this money to repay a mortgage, put towards funeral costs, or other essential ongoing expenses.

The lump sum provided reduces the financial impact caused by your death and is one of the most essential forms of insurance that is recommended to everyone.

You may well have a “death in Service” provided by your employer, which can be taken into consideration.

Critical Illness Cover

Critical illness insurance provides a tax-free payment to you if you are diagnosed with one of the specified illnesses covered.

Typical conditions covered are certain types of cancer, heart attack, stroke, multiple sclerosis, and many others defined illnesses.

The conditions it covers will be outlined by the policy’s terms and conditions. Policies may also pay if you’re disabled after an injury or an illness.

Income Protection

Income protection insurance is a policy that pays a specified monthly amount if you are unable to work due to illness or following an accident. The amount paid is a percentage of your take-home pay, and payable until you can return to work, (or for a specified period)

It will not cover you following redundancy.

This cover is normally aligned with your employers sickness policy, and ensures that your monthly bills can be paid, keeping your credit score intact.

You might consider getting short-term income protection insurance. This type of policy will pay out a monthly sum, for a set period of time, if you lose your source of income due to illness, injury or redundancy.

You might consider critical illness cover, which will cover you in case you are diagnosed with a specific type of life changing condition.