Including Critical Illness Cover, Mortgage Protection and Income Protection
About Life Insurance
Personal insurance is a way of providing a level of cover or financial security to reduce the impact of a serious event in return for the premium paid. The aim is to provide sufficient funds to ensure that in the event of you dying, suffering from a critical illness or being unable to work for a prolonged period, there is the right cover in place to provide sufficient financial support for your family and loved ones.
The common starting point for most people when they consider personal protection against unforeseen events and circumstances is life insurance. This is generally the cheapest type of cover available and if a death occurred it would lessen the financial impact on the life assured’s family.
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As life expectancy has increased life assurance premiums have generally gone down over the last ten years. We are more than happy to review your existing policies to ensure that they remain competitive.
Critical Illness Cover
These policies normally cover approximately 40 conditions, of which the three biggest in terms of claims are heart attack, cancer and stroke. Critical illness cover should be regarded as important and pay-outs are generally made in lump sums to replace lost income, changes to property or fund a necessary adjustment in lifestyle, such as reduced working hours.
This is Insurance cover that a home buyer can purchase to cover mortgage repayments in the eventuality that the buyer loses their job or is financially unable to keep making mortgage payments.
These policies provide a replacement income after the ‘deferred period’ i.e. the period you’ve been unable to work due to ill health, injury or sickness. This will generally be a tax free monthly benefit, payable until you can return to work or the end of the policy term.