Protection

It's good to have the peace of mind that comes from knowing that if you were to die unexpectedly, your family would be properly provided for.

There are different types of life insurance, the best one for you will depend on your personal circumstance as well as the amount and type of cover you need. Life insurance pays out a cash lump sum if the person insured dies during the policy term.

The two main types of life insurance include: Level life insurance - where the amount the plan pays out stays the same throughout the policy term and decreasing life insurance, where the amount that the policy pays out reduces over time, perhaps to help cover a loan or repayment mortgage. Please note that neither of these products have a cash-in value.  

It might be that at some time in the future, you are diagnosed with a critical illness. If so, the last thing you'll want is the worry of supporting yourself and your family.

Life and critical illness cover pays out a lump sum if you either die or are diagnosed with a critical illness that meets our policy definition and then survive for at least 14 days. We only cover the critical illnesses we define in our policy and no others. The types of illnesses covered typically include heart attacks, Alzheimer's Disease, strokes and certain types of cancer. Critical illness insurance varies from company to company, so if you are considering taking it out then make sure you read your policy documents to fully understand the types of illnesses covered and when a claim would be paid. By doing this you can make sure you are buying the right kind of cover for you.

You can buy critical illness insurance with life insurance, or you may be able to add it as an additional option at a later date. It's also worth checking any other policies you have in case they already sufficiently cover you if you have a critical illness.

An income protection policy is designed to ensure that if you were unable to work due to sickness or accidental injury, it would provide an income to help you to maintain your living expenses.

It works by providing a monthly income while you're unable to work and is especially important if you are self-employed. You select the amount of cover you require and when you would like the policy to start and end (subject to policy limits). You will continue to receive monthly payments until you recover and return to work, or until your policy ends.