Life Cover & Ill Health

Many of us are more than happy to ensure that we have protected our Car, our Home and our Travel arrangements for the short period of time we are on holiday. However, we sometimes neglect the need to ensure that our debts and our families are protected in the event of ill health or death.

The cost of providing this protection can often be cheaper than we think. However, selecting the right type of cover can sometimes be confusing. With the help of a professional adviser you can select the cover that is right for you which in turn will provide you with peace of mind in knowing that your family have the protection they need.

The following is intended to assist you with understanding the different types of product that are available.

Decreasing Term Assurance

This type of cover is designed to pay off the remaining mortgage debt on a repayment mortgage should you die within the term of the contract.

Level Term Assurance

This type of cover is aimed at providing you with a fixed level of cover throughout a set term. For example, you may require £100,000 of life assurance to be paid out should you die within the next 20 years.

Whole of Life Assurance

A Whole of Life Assurance will ensure that a level of cover is paid out in the event of death, whenever it occurs. The policy can include an investment element and is generally more expensive than a Term assurance, but it may have a surrender value.

Critical Illness Cover

With a Critical Illness policy, you do not have to die to benefit from the cover. It is designed to pay out a lump sum in the event you are diagnosed with having certain types of critical Illness which are specified within the policy terms.

Income Protection Insurance

Income Protection Insurance is aimed at protecting your income in the event you are unable to work due to illness or accident.

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