We all insure our homes and other income- generating assets against accidents and misfortune, why not insure yourself and your family as well?
Protecting yourself ensures that, no matter the circumstance, there will be a steady flow of income. Our ‘Protection’ refers to a wide variety of insurance policies that cover all unforeseen life events.
They give you you peace of mind, assuring you that your family, and way of life, will be safeguarded in every situation.
The primary protection types are summarised on this page, and why you might require them.
The most well-known type of protection. It pays a lump sum to your partner or dependents should you pass away during the policy’s term. There are various types of life insurance, so you can select the product that best fits your needs. However, a common approach is for your family to pay off the mortgage if you die. You may be concerned with obtaining life insurance if you have pre-existing medical conditions, however, most of the time, you can still get coverage.
This is a type of life insurance, that pays a set amount every month to your family, should you pass away. This is generally purchased in addition to the lump sum provided by life insurance so that their family does not have to make major changes following their death. It allows their lives to go on as usual. Again, these products are highly adaptable and can be tailored to your specific needs. You typically take them out for a set period of time, such as 15, 20, or 25 years.
If you are diagnosed with a serious illness such as some forms of cancer, stroke, or multiple sclerosis, critical illness insurance will pay you a lump sum. People sometimes believe that insurers try to avoid paying out or that the list of conditions isn’t long enough – but the insurers we work with pay, and help you when you need it. Critical illness insurance can finance lifestyle changes, or even household adaptations, relieving stress and allowing you to focus on your treatment.
How long will your employer pay you if you are unable to work due to illness or injury? Or if you are self-employed – how would this loss of income affect your family? If you are unable to work, income protection will pay you a monthly sum to help you cover your mortgage payments, bills, and other household costs. It’s a versatile product; you can programme it to begin paying when your employer’s sick pay drops to the basic rate, set the amount you require, and specify how long you want it to last. It’s a critical product that we urge every client to carefully consider.
Accident, sickness, and unemployment (ASU) insurance is designed to cover a portion of your income while you recover from an injury or illness. It is a type of income protection that provides shorter-term coverage, with payments being provided for up to 12 months if a claim is made. If you are unable to work due to a serious illness or injury, you will still be able to pay your household bills.
You’ll decide how much income protection you need, and pay a monthly premium to be insured. Unemployment insurance can be brought as a standalone product, as can accident, and sickness cover, so consider whether you really need all three.
If you own your own company, consider what would happen if you weren’t there.
Business protection insurance aids owners in preparing for the unforeseeable. If a key employee or director dies, becomes extremely ill, or is seriously injured, it allows the firm to continue with minimal disturbance. Many forms of businesses, including partnerships, sole traders, and limited liability corporations, can benefit from business protection. It can be tailored to your company’s exact requirements. Typical concerns include repaying corporate loans, covering the costs of replacing a key employee, replacing lost profits, and repurchasing firm shares from a deceased person’s estate.
