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How to get the Insurance you need

Protection Blog: Latest News - 01-12-2024 - - 0 comments
How to get the Insurance you need

Life Cover

 

This is usually one of the simplest policies to arrange. It will pay out a lump sum of money or an income if you die whilst the policy is active.

 

What life insurance does

 

- Helps your loved ones to pay for funerals, mortgages & bills or possibly any inheritance tax they may face.

 

What life insurance doesn’t do

 

- Most won’t pay out if you die through self-harm in the first 12 months.

 

Income Protection

 

Income Protection is a policy that pays you a monthly income if you are ill and unable to work. The policy usually provides financial support if you are unable to work for a period of 4 weeks or more (sometimes even from day 1) due to ill health.

 

What income protection does

 

- Most plans will pay out if you are ill and cannot do your own occupation, until you can return to work, or right up to your retirement age.

 

- It means that you won’t need to rely on statutory sick pay (SSP).

 

What income protection doesn’t do

 

- Most will not payout if you are made redundant, unless you have elected to include this.

 

- It does not cover loss of income by an employment contract coming to an end or if your work reduces.

 

Critical Illness Cover

 

This is an insurance that is designed to provide you with a lump sum of money to help you if you are diagnosed with a listed condition.

 

What critical illness cover does

 

Pays you a lump sum of money if you are diagnosed with a condition that is covered by the policy, often at a specified severity.

 

Most policies usually offer claim payouts for over 50 conditions including cancer, heart attack, stroke, Parkinsons, Multiple Sclerosis and many more.

 

What critical illness cover doesn’t do

 

- Pay out for a condition that is not listed on the policy claims set.

 

- Pay out if you die, unless you’ve combined it with life insurance.

 

You are always welcome to speak with one of our expert advisers, who will discuss your personal circumstances to find out the right insurance(s) to meet your needs and provide a no obligation quotation. We can then work with you to implement appropriate cover.

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