Nobody likes to think of worst-case scenarios, or what would happen in the event of their death, but what would happen if you were unable to work due to long-term illness or were made redundant? Unfortunately, there are no guarantees in life, so it’s important to protect yourself and your family with insurance.
Most Protection policies do not have a cash value and will not pay out if you reach the end of the policy without making a valid claim.
Why insurance really does matter
How would your partner cope with the monthly mortgage payments in the event of your death or the diagnosis of a critical illness? How would you meet other financial commitments? Simply putting food on the table could be an issue.
These issues, however uncomfortable they are, need to be considered seriously as failure to meet monthly mortgage repayments could result in a mortgage lender repossessing your home.
We understand how important it is for you to protect yourself, your family and your home. With our experience and expertise, we can tailor a package to suit your needs and ultimately your budget.We can advise which cover is suitable for your circumstances and explain the benefits and extra options available so you can arrange the right type of policy. Some of the more common types of policy are explained below.
Life insurance insures the policyholder for a sum of money in the event of death.
There are many different kinds of life cover and the type you opt for will depend upon your specific circumstances.
Critical illness cover
Critical illness insurance insures the policyholder in the event of a life-threatening illness.
The policies generally cover illnesses like cancer, dementia, heart attack, liver failure, kidney failure, meningitis and so on.
It pays directly to the policyholder and helps them to survive financially during the illness and live more comfortably than they would do without it.
Private medical insurance
Private medical insurance or PMI is an insurance that enables the policyholder and their family to access private medical care.
This allows them to access services quickly, in a nice setting when they need to.
It is a useful policy to have depending on your circumstances; however, it does not cover A&E type services.
Income protection cover
Income protection insurance insures the policyholder if they cannot do their job for medical reasons.
The policy can cover accident, sickness and involuntary unemployment for the employed, self-employed and contractors.
It is a so-called lifestyle insurance policy that comes with a variety of options and is available for various time periods.
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Financial planning and advice for people and businesses across Berkshire, Buckinghamshire, Oxfordshire, Hampshire, Surrey & beyond.