Preparing for a sudden loss can be a difficult process for anybody. Whether that be the loss of your income, loss of your life or the life of a family member. These events can have a major impact on your finances and the finances of the loved one’s you leave behind. The consequence of not having the right protection in place is likely to be severe and could result in a loss of the property that you and your family live in.

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There are many forms of protection available including the following:

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Mortgage Protection

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A decreasing life insurance product that helps repay your mortgage in the event of death during the plan term. Options can include mortgage premium protection and critical illness.

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Level Term Assurance 

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Term Assurance pays out a guaranteed cash sum in the event of death of the life covered during the plan term. It is designed to help you protect your standard of living for your family and dependants. It can be selected with a range of options including premium protection and critical illness.

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Critical Illness Cover 

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A cash sum payable on diagnosis of a specified illness during the plan term. Critical illness can be chosen as an additional option on a Level Term assurance or Mortgage Protection plan, or as a stand alone policy.

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Income Protection

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Income Protection is designed to provide a regular income if you are unable to work through illness or accidental injury leading to a loss of earnings.

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Family Income Benefit

 

This cover protects a level of income for a fixed term. In the event of death the amount of income chosen at the outset will be paid for the remainder of the term of the plan. Often the term is set to protect you until your youngest child is 18 or 21.