Protecting yourself and loved ones
Financially protecting yourself and your family is the most important part of planning for your future.
Protection should always be considered before you need it – just like car insurance. Policies are always cheapest when you are young, fit & healthy so the sooner you put a policy in place, the better.
How would your dependents cope financially if you weren’t around to provide for them? How would your lifestyle suffer if you became ill and couldn’t work or provide an income? We can discuss three types of cover with you, one to protect your income, one to protect you if you become critically ill, and one to protect your family should you die.
These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
Protection
Income Protection provides a regular tax-free income for policyholders if they are unable to work due to accident or sickness. It is available to both the employed and the self-employed.
Once the benefits have started, they will continue until the policy expires, or the insured person returns to work or dies. Usually, the policy will have a fixed term to the standard retirement age.
Critical illness cover pays out a tax-free lump sum to policyholders if, during the term of the policy, they are diagnosed with one of a number of specified ‘critical’ illnesses or conditions, such as: cancer, Parkinson’s Disease, Multiple Sclerosis, paralysis following a heart attack or stroke, or HIV/AIDS as a result of a blood transfusion. The lump sum can help pay off your mortgage, debts, pay for medical assistance – or you a luxury holiday! It’s up yo you how you spend it.
Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document, if you go ahead with plan.
Life insurance policies pay out either a lump sum or a series of payments when a person dies during the life, or ‘term’ of a policy, usually to your dependents. In most instances, the pay-out is tax-free.
The pay-out can be used to pay off your mortgage, provide an income for your dependents, or fund a savings plan for your children.
Policies can be set up from just £5 a month and can be completely tailored to you and your needs. (https://www.aviva.co.uk/insurance/life-products/life-insurance/)
For insurance business we offer products from a choice of insurers.