Providing protection cover is essential in order to protect you and your family – we will conduct a thorough review of your protection requirements to ensure you and your family are provided for in the event of death or ill health.
We can offer advice and recommend products from the whole of the market for the following types of protection:
- Life Insurance / Life Assurance
- Critical Illness Cover
- Income Protection
- Buildings and Contents Insurance
Life insurance, also known as term insurance or life assurance will provide a sum of money in the event of death during the term of the policy. This cash lump sum is paid tax free and can be used by your dependents however they choose.
Critical Illness Insurance
Critical illness insurance will provide a tax free cash sum in the event that you are diagnosed with one of a set list of critical illnesses (most policies cover 30-40) where your diagnosis meet the providers definition.
Critical Illness protection is there to provide financial stability at a time that it is needed the most, it could be used to clear a mortgage or it could be used to replace a lost income, pay for private treatment or for whatever else you feel is required.
Income Protection Insurance
Income Protection Insurance sometimes referred to as Mortgage Payment Protection and Accident and Sickness Protection – is designed to pay a monthly income to help replace any lost income, should you not be able to work due to accident or sickness.
Insurers normally limit the amount they will pay out based on your last twelve months of earnings. The monthly benefit payable is paid to you either until you return to work, you retire or if you pass away.
Buildings and Contents Insurance
Buildings insurance usually covers the structure of your home and any fixtures or fittings, garages, drives, fences, walls, out-buildings, swimming pools and tennis courts.
Insurance cover includes the cost to repair or rebuild your home if it is damaged to a set rebuild cost although some insurance companies have an unlimited level of cover.
Contents insurance is cover for your household contents, i.e. furniture, carpets, curtains, television, , kitchen equipment, ornaments, personal possessions, clothing, computers, etc. It is the total value of everything that is in your home that you would take with you if you were to move. With most contents insurance there is the ability to insure your personal possessions away form the home. This optional cover allows you to insure your personal items normally worn or carried outside the home, e.g. watches, jewellery, cameras, anywhere in the world for up to 60 days a year.
We understand that buying any Protection Policy can be a hard decision for some given the uncomfortable questions it raises. However, we know that planning for the future is important and are happy to take the time to discuss all aspects of these policies to ensure that you choose the right policy for your circumstances.
There are other providers of Payment Protection Insurance [Short-Term Income Protection] and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneymadeclear.org.uk