FAMILIES, INCOME & MORTGAGES
Protect the ones that matter most.
We all need to be protected. What would happen if a sudden illness, disability, job loss or death occurred?
Many people think "it won't happen to me", a fact reflected in L&G's 2015 Value of a Parent report. Despite a majority of parents stating that their top financial priority was to ensure their children are looked after in the case of their death or illness, only half of parents have Life Insurance in place, under a third have Critical Illness Cover and less than a fifth have Income Protection.*
We can help provide you with the peace of mind that comes with knowing you are protected if the worst should happen. Our panel of protection providers offers products to cover all your needs.
( Try this calculator to see what life may have in store for you!)
This comes in two main forms: Level Term and Decreasing Term. Level Term will give you the same amount of cover throughout the life of the policy and pay out that amount if you make a claim. Decreasing Term will decrease over the term, usually to match your decreasing mortgage amount, and pay out the current amount when a claim is made.
Critical Illness Cover
This covers you and your family against the financial impact of a specified critical illness and loss of income through sickness. It pays out a lump sum should you be diagnosed with a serious illness. The type of illnesses covered varies depending on the provider and type of policy selected with typically up to 40 major illnesses listed. Critical illness cover is also available in Level Term and Decreasing term similar to life cover.
Family Income Benefit
Available on both Life and Critical Illness plans, Family Income Benefit will pay out a regular income from the time of claim until the end of the policy. For example, a claim made 5 years into a 20 year term policy would pay benefits for 15 years.
How would you pay the bills if you were too ill to work? Income Protection will protect your income to help enable you to pay all your bills, not just your mortgage.
What is Income Protection?
Income Protection is an insurance policy that provides you with a regular tax-free income if you can't work because of illness or disability. The benefit paid is up to a maximum percentage of your earnings - usually upto 60% of gross pre-disability earnings.
Policies pay out after you have been off work for a period of time known as the 'deferred period', and will continue to pay out until you can get back to work or until the end of the policy term, whichever is soonest.
* L&G Value of a Parent 2015 -
53% of parents have Life Insurance, 28% have Critical Illness Cover and 19% have Income Protection
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