“You don’t buy life or illness insurance because you are going to die or become sick, but because your loved ones are going to live and stay healthy”.
While often not the nicest discussions to hold, the importance of being prepared and to ensure plans are in place to protect one’s families and dependents cannot be understated.
We perform a detailed review of a client’s circumstances, make recommendations on the shortfall of insurance, and research the market to provide a competitive quote for a suitable solution.
Life Insurance is like a parachute, if you don’t have it the first time you need it, there is no second chance.
A Term Life Insurance Policy will pay a lump sum, depending on the level of cover taken, should you die during the term of the policy. This can be a very effective means of protecting your dependents and loved ones against the financial impact of your death.
This type of cover, also known as Critical Illness Cover, protects the holder and their family against the financial loss that would arise in the event of being unable to work due to illness.
SIC is a term insurance policy designed to pay a lump sum on the diagnosis of certain specific serious illnesses.
Most policies will pay out following the diagnosis of heart disease, stroke, renal failure, cancer, paralysis, major organ transplant and coronary artery bypass surgery as well as a range of other conditions. The financial consequences of suffering a major life changing illness can be very substantial.
The one-off payment from this type of policy is designed to help you cope with these costs which will typically include the need to adapt your home or car and/or undertake training for a different occupation.
Specified Illness Cover
This type of protection works to insure the client against Illness, Accident or Disability.
You receive a monthly payment, to replace a loss of income, if any illnesses or injuries prevent you from working. The amount of benefit that is paid out from an income protection plan is set when the policy is taken out.There is a maximum benefit which will vary from one insurer to another but is normally around 75% of gross income.
A mortgage protection policy pays the balance of your remaining mortgage should you die during the term of your mortgage.
Critical Illness benefit can be added to this policy at the outset. A mortgage protection plan is designed so that the benefit reduces each month in line with your mortgage, reflecting the fact that you are gradually paying off your mortgage.
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