SERVICES
Life Insurance
Life Insurance policies provide financial protection to you and/or your dependents should the worst happen.
Level term Assurance offers a level amount of cover in return for a level premium throughout the term of the contract.
Decreasing Term Assurance, often referred to as Mortgage Life Insurance or Mortgage Protection offers a decreasing amount of cover in return for a level premium. It’s designed to meet the needs of individuals with a decreasing liability such as a repayment mortgage.
Whole of Life is Life assurance without a term, as long as you keep paying the premiums for the whole of your life the plan will pay out when you die.
Critical Illness Cover
Critical illness insurance provides you with a lump sum of money if you are diagnosed with certain illnesses or disabilities.
The kinds of illnesses that are covered are usually long-term and very serious conditions such as a heart attack or stroke, loss of arms or legs, or diseases like cancer, multiple sclerosis or Parkinson’s disease.
If being ill has left you out of pocket, it can be really handy to have a large sum of money to spend on things like everyday expenses, paying off your mortgage or your medical expenses. You can use the money in any way you like, you don’t have to spend it on anything in particular.
You may have other income coming in while you’re ill such as state benefits or sick pay from your employer. However, this may not cover all your needs. It’s a good idea to think about how much you would need to live on if you became seriously ill and whether you would need some extra money to boost your income.
There are other types of illness insurance you can take out such as income protection insurance. Critical illness tends to be a less expensive way to protect your income against illness and disability
Income Protection
Income protection insurance pays you a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire. Income protection insurance is also known as permanent health insurance.
The amount of income you are allowed to claim will not replace the exact amount of money you were earning before you had to stop work. You can expect to receive about a half to two-thirds of your earnings before tax from your normal job. This is because some money will be taken off for the state benefits you can claim, and also the income you get from the policy is tax free.
Home Insurance
Contents insurance will cover the cost of the possessions in your home should they be damaged or destroyed. A contents insurance policy will generally offer protection against the same perils as buildings insurance.
The most important thing you need to consider when calculating how much contents insurance you need is how much the contents of your home are actually worth. It’s likely that your contents are worth more than you think – you should go through every room in your house and note each item and its worth at today’s prices. The figure will usually come to well over £30,000 on average.
Buildings insurance will provide you with the money to cover the costs of repairing or rebuilding your home should it be damaged or destroyed.
If you are a landlord or a home owner then buildings insurance will be crucial, but if you are renting a property then buildings insurance is the responsibility of your landlord. However, as a tenant, you may wish to consider taking out contents insurance.
Buildings insurance will cover the structure of your home – but can also include sheds, garages and other external features.