Act now to ensure you remain protected

Making sure you and your family are financially protected should something unexpected happen is one of the most valuable things you can do and will help you avoid a financial crisis.

So what type of cover is right for you?

  • Term Insurance pays out a lump sum if you die within the agreed ‘term’ (the amount of time you have chosen to be covered for). Suitable for mortgage protection or while children are financially dependent on you.
  • Critical Illness Insurance pays out a tax-free lump sum on the diagnosis of certain life-threatening or debilitating conditions, like cancer, heart attack or stroke. You may decide to buy Critical Illness Insurance when taking on a major commitment, like a mortgage or starting a family, to provide peace of mind.
  • Income Protection Insurance pays out a regular, tax-free payment of a percentage of your income if you become unable to work because of illness, injury and (on some policies) unemployment. It could help towards your mortgage or rent payments, as well as other living costs, until you’re able to return to work.

Some things are more reliable than others – monthly bills, for example. Young or old, single or married, we all have financial obligations to meet each month; be it luxuries, like a satellite TV subscription or mobile phone contract, or the real essentials – like keeping a roof over your/your family’s head.

But some things – like our long-term health – can be less reliable. For instance, one in two people born after 1960 in the UK will be diagnosed with some form of cancer during their lifetime.

If you became critically ill and unable to work, those monthly expenses would still need to be covered if you wanted to maintain your lifestyle. Ask yourself: could you cope financially?

To ensure you and your family are financially protected, I strongly recommend you review your protection needs at the earliest opportunity.