Life Assurance
Life cover pays out a lump sum if you die usually with an adequate sum assured to cover a mortgage balance. This should be a top financial priority for a family especially if only one partner is earning income. It may be wise to provide additional funds as well as covering the mortgage balance to provide extra security and peace of mind for loved ones.
Critical illness insurance
Critical illness cover pays out a lump sum if you are diagnosed with a specific critical illness. The main illnesses covered are as follows, cancer, heart attack, major organ transplant, coronary artery bypass surgery, stroke, kidney failure and multiple shlerosis. The number of conditions covered and the definitions of them vary from policy to policy so look carefully at the small print.
Income protection
The purpose of income protection insurance is to help maintain your current lifestyle by replacing your personal income should you be unable to work through sickness or injury. It provides the reassurance that for each month that you are unable to work, you will receive a monthly payment to maintain your financial commitments and personal lifestyle. A waiting period applies to any claim. This is a form of insurance excess. The waiting period is chosen by the insured person and is the number of days they have to be permanently disabled before income benefits can start to be paid. The usual waiting period options range from 28 days to 12 months.
Buildings & contents insurance
Buildings insurance is compulsory if you have a mortgage. It covers damage to the structure of your home as well as damage to permanent fixtures and fittings. Contents insurance provides protection against the loss or damage to your personal possessions as a result of fire, theft and flooding. It is usually more competitive to have a combined buildings and contents policy as opposed to two separate policies.
Life cover pays out a lump sum if you die usually with an adequate sum assured to cover a mortgage balance. This should be a top financial priority for a family especially if only one partner is earning income. It may be wise to provide additional funds as well as covering the mortgage balance to provide extra security and peace of mind for loved ones.
Critical illness insurance
Critical illness cover pays out a lump sum if you are diagnosed with a specific critical illness. The main illnesses covered are as follows, cancer, heart attack, major organ transplant, coronary artery bypass surgery, stroke, kidney failure and multiple shlerosis. The number of conditions covered and the definitions of them vary from policy to policy so look carefully at the small print.
Income protection
The purpose of income protection insurance is to help maintain your current lifestyle by replacing your personal income should you be unable to work through sickness or injury. It provides the reassurance that for each month that you are unable to work, you will receive a monthly payment to maintain your financial commitments and personal lifestyle. A waiting period applies to any claim. This is a form of insurance excess. The waiting period is chosen by the insured person and is the number of days they have to be permanently disabled before income benefits can start to be paid. The usual waiting period options range from 28 days to 12 months.
Buildings & contents insurance
Buildings insurance is compulsory if you have a mortgage. It covers damage to the structure of your home as well as damage to permanent fixtures and fittings. Contents insurance provides protection against the loss or damage to your personal possessions as a result of fire, theft and flooding. It is usually more competitive to have a combined buildings and contents policy as opposed to two separate policies.