We all recognise that we have to insure a house or a car. We all know we need to repay our debts. But how many of us truly consider the impact of losing a loved one? The emotional loss is terrible enough, but the financial consequences can be devastating. Imagine losing a spouse’s income or other financial support. The effect can leave a family struggling to cope with the pressures of utility bills, council tax and debt payments. A simple insurance policy can alleviate these worries with one comfortable tax-free lump sum, or even a monthly payment for a fixed period. We can help provide the right plan and cover tailored to your budget and needs.
Income protection is a long-term insurance policy which provides cover in the event of you being unable to work due to illness or injury during the policy term.
The maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost, less a potential adjustment for state benefits you can claim. As with all insurance, it is important that you have a policy that provides the benefits you require.
CRITICAL ILLNESS COVER
This cover pays out a lump sum if you’re diagnosed with certain life-threatening or debilitating conditions. The payment sum can be used for medical treatment, to pay off a mortgage, to stop working or reduce your hours, or any other purpose.
Policies tend to vary depending on the medical conditions they cover and when the payment is made. The cost is determined by a wide variety of factors, including your age and any previous or pre-existing medical conditions.
Should you wish to know more contact us and we’ll be able to help by working together to find the best solution for you.