Helping you choose the right protection plan
There are several factors to consider when choosing your protection insurance, and we’re here to help you make the right decisions for you and your dependents. These factors include your income, mortgage or other debt, your personal and professional circumstances, childcare needs and the level of cover you want. You may also wish to consider whether to place your life insurance in trust so that it can be dealt with by trustees in the event of your death, meaning it is (currently) exempt from Inheritance Tax and likely to be dealt with more quickly than if it were not in trust.
It’s a good idea to review your protection as your circumstances change, to ensure you have the best protection insurance for yourself and your family. Any life-changing event, such as getting married, having children or even changing your job can warrant changing your policy to provide the best protection for you and yours.
Types of life and income protection insurance
Life and protection insurance policies are designed to protect your loved ones in the event of loss of income for a variety of causes. For people with mortgages or dependents, protection insurance can help to prevent a financial disaster in the event of illness or unemployment. There are many kinds of protection insurance, including the below.
pays a lump sum or regular income in the event of your death, providing security for your dependents when they really need it.
pays out a regular tax-free replacement income if accident or illness means you’re unable to work (in some policies this includes unemployment). You can choose the period for which you are covered. It’s a useful tool for protecting yourself against loss of income in the event of accident or illness.
We can advise you on:
We can advise you on:
ii. “The plan will have no cash in value at any time, and will cease at the end of the term. If premiums are not maintained, then cover will lapse”.
iii. Additional warning for critical Illness risk warning “The policy may not cover all definitions of a critical illness. For definitions of illnesses covered please refer to the Key Features and Policy Documents”