THINGS TO CONSIDER
Who will benefit | How long should cover last | What benefits to include| Basic or Comprehensive
“Our experienced adviser team will offer advice & guidance while keeping everything simple”
LIFE COVER
This would be payable in the event of death or terminal illness.
This is whereby you have been given less than twelve months to live, therefore the benefit is paid out early. You are covered immediately when the policy starts, and you’re not tied into the cover. The only exclusion is suicide in the first twelve months.
Lump Sum Cover
This can either be a fixed amount of cover or increase each year
Mortgage Protection
A reducing form of life cover designed for repayment mortgage
Family Income Benefit
This pays out a monthly income and is used to cover the costs of living
Top Tip: Most couples prefer to have separate covers rather than having a joint policy. This is because the cost is marginal, but you double the benefits.
CRITICAL ILLNESS
This will pay out a lump sum of money or income for a specified listed illness on the plan.
You must meet the definition of the illness for a successful claim to be made.
The four main claims are: Heart Attacks, Cancer, Strokes and Kids Critical Cover.
Options with a plan:
To include life cover in the plan is usually the same price
Cover Children with most polices
Each insurers policies are very different - we’ll help you choose
Any pay out you receive is free of tax.
Top Tip: You’re never tied into any life or critical illness contract and they have no cash in value.
INCOME PROTECTION
Your income drives everything and if you became too ill to work how would you survive?
This product pays you a tax-free monthly income if you’re signed off work by a medical professional for illness or injury. This could either be for something physical or mental.
Key Elements of Cover:
Cover up to 50-75% of income
You can decide how long any benefit would be paid for
Own occupation guarantee
Receive a monthly income till retirement if you could never work again
You select how soon you get the money
If you’re off work & claiming you no longer pay the monthly premium
Rehabilitation support services
Fixed or inflation proofed monthly benefit
Top Tip: Ensure your policy has your ‘OWN’ occupation definition, which means even if you could do another job you don’t have to.
WHOLE OF LIFE
Pays out whenever you pass away whenever that should be.
It’s cover for your peace of mind that your loved ones will have financial security no matter what.
Some of the options:
Single or Joint
First or Second Event
Fixed or Indexed
Guaranteed or Reviewable
PRIVATE MEDICAL
Provides you and your family with speedy access to quick medical treatment in a private facility.
Benefits:
Avoid waiting lists
Ensuite Rooms
Choose your hospital
in most cases
Swift diagnostic tests
Access to top consultants
Hospital cleanliness
Specialist drugs & treatments
Different levels of cover to suit budgets