Protection
With our free service, advisors4me can help you plan ahead and put in place policies that will provide sufficient cover, should the worst happen. We'll take the time to understand your needs, and gather enough information to allow us to advise you accordingly. You and your loved ones' lifestyle need not be compromised as a result of an accident, critical illness, or worse, death.
Life Insurance
There are many different types of life insurance.
Term Assurance – this pays out a lump sum in the event of death within the term of the policy.
Increasing Term Assurance – this aims to pay out a cash sum that is protected against inflation if you die whilst covered by the policy.
Decreasing Term Assurance – the plan is designed to protect a repayment mortgage. The cash lump sum decreases over time and pays out should you die within the term of the policy.
Family Income Benefit – this plan provides a monthly benefit if you die while covered by the policy.
Whole of Life – this pays out a lump sum in the event of your death.
Critical illness Cover
This covers serious illnesses listed within a policy. All insurance providers are different but to give an example it would include illness such as heart attack, certain types and stages of cancer, motor neurons disease, stroke.
The policy pays out a tax-free, one-off payment if you suffer one of the specified critical illnesses. This lump sum can help pay your mortgage, rent, debts or even alternations to your home, such as wheelchair access, should you need it.
Some policies make a smaller payment for less severe conditions or if one of your children becomes ill with one of the specified conditions.
You maybe thinking that you can reply on state benefits to help should the above happen. It is very unlikely that state benefits will be enough to replace your income if you can’t work due to long-term sickness or accident. You maybe put in a situation whereby you and your family are not longer able to pay your mortgage and live in your home.
The same as life insurance, critical illness cover comes in many forms.
Term assurance, increasing term assurance, decreasing term assurance, family income benefit.