Life is unpredictable, but having the right protection in place can make all the difference. Whether it’s illness, injury or loss, protection insurance helps provide financial security when you need it most. We’ll explain about the different insurance products and make provide advice based on your individual needs and circumstances, designed to give you real peace of mind.
Why protection matters
It’s not always easy to think about the unexpected but planning ahead can relieve financial pressure at difficult times.
Protection can help:
- Support your family financially
- Replace lost income
- Cover key expenses like your mortgage.
It’s about ensuring you and your loved ones are protected, whatever happens.
Life insurance
Life insurance provides a financial safety net for your loved ones if the worst happens.
Depending on the policy, it can:
- Pay a tax-free lump sum
- Help clear a mortgage
- Support everyday living costs.
Options include level cover, decreasing cover (often used for mortgages) and family income benefit, which pays a regular income.
Critical illness cover
Critical illness cover provides a lump sum if you’re diagnosed with a specified serious illness.
This could help:
- Cover living costs
- Pay off debts
- Fund medical or lifestyle changes.
It’s often added to life insurance but can also be taken out separately.
Income protection
If you’re unable to work due to illness or injury, income protection can provide a regular monthly income.
This helps you:
- Keep up with bills and commitments
- Maintain your lifestyle
- Focus on recovery without financial pressure.
Unlike one-off payments, this policy provides ongoing support while you’re unable to work. It is usually restricted to a maximum of 60% of your gross income.
Family income benefit
Rather than a lump sum, this policy pays your family a regular income if you die during the term.
This can:
- Replace lost earnings
- Help with ongoing household costs
- Provide longer-term financial support.
We’ll advise you on protection insurance taking into account your individual circumstances, priorities, budget and long-term plans.
Financial protection policies typically have no cash value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.