Protection

Although it isn’t nice to think about, it is important to ensure your loved ones are protected should you suffer an accident, illness or even die.

A life insurance policy usually pays out a lump sum to your family. This can be used to pay off a mortgage so that your family are not left homeless. However, you can arrange to provide a regular income for them instead.

Critical illness insurance will pay out a one-off, tax-free lump sum if you become seriously ill with a condition covered by the policy. Critical illness policies vary in what they cover, so you should read the policy carefully to ensure it is right for you. The policy pays out once and then ends.

The cost of your cover will depend on your age, existing health conditions and employment.

Family income benefit insurance provides a regular income for your family if you were to die. The policy provides regular payments over an agreed period. This ensures your family do not have to worry about money at an already distressing time.

Payments are fixed and tax-free. Many policies will allow you to exchange the policy for a cash payment should it be needed.

Income protection insurance is a long-term insurance policy designed to help you if you can’t work because you’re ill or injured. It ensures you receive a regular income until you can return to work, or you retire or die.

You generally set payments to start after your sick pay or any other insurance stops covering you. The longer you set this period, the lower the monthly premiums will be.

You can claim as many times as you need to during the period covered by the policy.

Every policy is different and will cover different conditions and levels of health. Our advisers will be able to talk you through your options to ensure you get the right cover for your circumstances. 

The cost of cover will depend on your job, age and current health as well as the percentage of your income that you want to be covered.

Whole-of-life insurance is a type of life insurance that will pay out when you die, no matter your age.

Whereas life insurance will only pay out should you die within the term of the policy, whole of life insurance will pay out no matter when you die or what your age.

Because whole of life insurance guarantees a pay-out no matter when you die, it is a little more expensive than life insurance. The cost of your premium will vary depending on factors such as your age and current health.

Private medical insurance is a policy that covers any medical treatment you may need. You can choose a policy that covers just you or your whole family.

Private medical insurance offers increased flexibility as you usually have a choice around the time, date and place of any appointments, meaning your treatment or check-ups can fit around your life.

However, not everything will be covered by private medical insurance. In general, visits to A&E, cosmetic surgery and pregnancy aren’t covered.

Business protection insurance will pay out a pre-agreed sum of money for your company should one of the key members of the organisation die or become seriously ill.

A range of policies are available with some offering cover for a key individual, while others provide life cover for your staff or cover to financially secure the business for the future.

Our advisers can work through your options with you to ensure the future of your business is secure.