Covers you against: Death or terminal illness (Critical Illness Cover can be added)
Type of benefit paid: Lump sum
This can be either decrease in line with your mortgage or on a level or even an increasing basis and pays out as one-off lump sum of tax-free cash. This can be a suitable option for people who need a one-off lump sum to pay of a mortgage or other debts although the money can also be used to create an income for dependants.
Critical Illness Cover
Covers you against: Critical illness
Benefit paid: Lump sum
Critical illness insurance provides you with a tax free cash sum in the event you are diagnosed with one of a list of common defined critical illnesses. The cash sum you receive can be used however you like, but is designed to take the financial burden off you during a difficult period in your life. Critical illness, like life insurance, can be a level or increasing lump sum or can decrease in line with your mortgage.
Family Income Benefit
Covers you against: Death or critical or terminal illness
Type of benefit paid: Regular income
Family Income Benefit pays out in the event of a claim, but instead of a one-off lump sum of cash, it pays a regular, tax-free income until the end of the policy term. This can be a suitable option for people who would rather that their dependents receive a regular income, rather than a one-off lump sum.
WHAT LEVEL OF PROTECTION IS RIGHT FOR YOU?
The type and level of protection you need will depend on your individual circumstances. Whether you are single or married, have children or grandchildren, you’re working or retired - everyone's needs are different. Our experts will work with you to establish what the right level of cover is for you to ensure you are fully protected.