PROTECTION
Making sure your family or dependents are financially protected in the event of your death or diagnosis of a critical illness will provide financial support to your loved ones, and enables them to maintain their standard of living.
Life Insurance can be tailored to several areas, including paying off your mortgage or any outstanding debts or ensuring your children’s education can be paid for right up to university. Alternatively, you may prefer to provide them with a source of income which will replace the loss of your earnings and ensuring their financial stability.
Life Insurance
Planning ahead means even when times are tough, your family and dependents will be able to cope financially. Life insurance will enable your dependents to pay off any debts or any monthly outgoings such as the mortgage or rent, and also pay for those little luxuries like holidays and future outgoings like university fees.
There are different types of life insurance to fit different types of families. We listen to what’s most important to you and ensure your policy meets your needs exactly.
Benefits of Life Insurance
- A lump sum is paid out upon diagnosis of your illness
- Use the money to pay for medical bills or financial commitments
- Eases financial strain so you can concentrate on getting better
Family Income Benefit
Family Income Benefit provides your loved ones with a steady, predictable income stream rather than a lump sum, helping them maintain their standard of living and allowing them to manage ongoing expenses such as bills, mortgage payments and daily expenses.
With Family Income Benefit life insurance, you decide how much income your dependents will need, and for how long, in the event of your death.
How it works: if your family needs £1,000/month for 20 years, and you die within the first month of the policy being set up, your family would receive £1,000/month for 20 years. If you die in year 18 of the policy, they would receive £1,000 for two years only. Should you die after the term of the policy has ended, there would be no payout.
We can talk you through the pro’s and con’s of this type of insurance and make sure it’s the right option for you.
Benefits of Family Income Insurance
- Mortgage payments can be covered in the short term
- Eases the initial financial strain on your dependants
- Maintain your family’s lifestyle
Critical Illness
Should you become critically ill and unable to work, Critical Illness insurance pays out a tax-free lump sum that you can use however you like – whether it’s to help cover health-related costs, monthly expenses, or lost income while you get better.
There are different types of policy such as level term, and decreasing and increasing cover. Policies generally only cover a list of specific illnesses, so it’s worth chatting to us to find out which plan is right for you.
Benefits of Critical Illness
- A lump sum is paid out upon diagnosis of your illness
- Use the money to pay for medical bills or financial commitments
- Eases financial strain so you can concentrate on getting better
- Maintain your family’s lifestyle while you are unable to work
Why choose us?
We have access to hundreds of insurers and thousands of personal protection options so are able to find the right cover to fit your needs exactly. We always have your best interests at heart and make finding insurance cover as painless and cost effective as possible.
Important Information:
Life insurance, critical illness cover, and family income benefit policies are designed to provide financial support to you or your family in the event of death or serious illness. These products are not suitable for everyone and will depend on your individual needs and circumstances.
All policies are subject to terms, conditions, and exclusions. For critical illness cover, only the specific conditions listed in the policy wording are covered, and definitions can be strict. Not all claims will be paid. For life insurance and family income benefit, cover will only pay out if the policy terms are met.
Premiums must be maintained to keep cover in place. If premiums are not paid, cover will cease and no benefit will be payable. Depending on the type of policy selected, premiums may increase over time.
The level of cover selected may not be sufficient to meet all your financial needs, and benefits may be affected by factors such as inflation. Tax treatment depends on individual circumstances and may change in the future.
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