Which Insurance Policy do I Need?
Life Insurance pays a cash lump sum to your loved ones if you die, or become terminally ill. If you have a family or a partner who are financially dependent on you, or if you have liabilities such as a mortgage or loan then you should consider life insurance.
Critical Illness Cover is an insurance plan that pays out a cash lump sum if you are diagnosed with a specified critical illness. Should you be unfortunate enough to suffer a critical illness, the last thing you'll want to be worrying about is money. You may have to reduce your working hours, pay for medical care or have to adapt your house to make day-to-day living easier. A critical illness plan could provide the money to do all of this and more.
The likelihood of being unable to work due to an illness or accidental injury is greater than you may think. Income Protection pays a tax free monthly income up until your retirement age should you be unable to work due to illness or disability.
Accident, Sickness & Redundancy
Accident, Sickness and Unemployment insurance (ASU), can also be referred to as mortgage payment protection and will provide you with an income to meet your outgoings if you are off work sick, have an accident or are made redundant. Benefits are usually payable for a maximum of 12 months.