Life Protection

"Term Assurance" or "Level Life Insurance" is an insurance plan that pays out a guaranteed cash sum if you die during the term of the plan. Some Term Assurance Plans also pay out if you are diagnosed as suffering from a terminal illness.
You can take out the plan on your own or with someone else. For joint life policies the cash sum is normally payable only once, on the first claim.

Mortgage Protection

"Mortgage Life Insurance" or "Repayment Mortgage Protection" is an insurance plan to cover your whole repayment mortgage, or just part of it.
Your insurance plan will pay out a cash sum to meet the reducing liability of a repayment mortgage.
You can take out the plan on your own or with someone else. For joint policies the cash sum is normally payable only once, on the first claim.

Critical Illness Cover

"Critical Illness Cover" is an insurance plan that pays out a guaranteed cash sum if you're diagnosed as suffering from a critical illness covered by the plan. There is no payment if you die.
You can take out the plan on your own or with someone else. For joint policies the cash sum is normally payable only once, on the first claim.

Income Protection

This insurance provides you with a regular tax free income if, by reason of sickness or accident, you are unable to work, resulting in a loss of earnings.
Those who should consider this kind of protection are:

• Employed individuals without occupational provision yet with a need to protect their family.
• The Self Employed with more immediate needs - if they cannot work they do not get paid. This type of cover does not provide protection in the event of redundancy.

Waiver of Premium

A valuable extra which, if you are unable to work through illness or accident for a number of months, will ensure your cover continues without you having to pay the policy premiums.

trusts

Many insurance companies supply free trust documents when arranging your policy. Placing your policy in trust usually speeds up payment of proceeds to your beneficiaries and also may assist with Inheritance Tax planning.

Reviewable Premiums

Plans with reviewable premiums are usually cheaper initially, however, the premiums are reviewed regularly and can increase substantially.

Indexation

You can arrange for your insurance benefit and premiums to increase annually in line with inflation or at a fixed percentage.

Pension Linked

If you are eligible for a personal pension, you may save money by obtaining tax relief on your life insurance premiums - special plans allow you to do this.

Terminal Illness

Some life policies include this benefit free of charge and this means the life insurance benefit will be paid early if you suffer a terminal illness.

Guaranteed Premiums

This means the premiums are guaranteed to remain the same for the duration of the plan, unless you increase the amount of cover via 'indexation'.

Whole Of Life

Unlike Term Assurance, Whole of Life policies provide life assurance protection for the life of the assured individual(s). Cover may either be provided for a fixed sum assured on premium terms established at outset or flexible terms are available which permit increases in cover once the policy is in force, within certain pre-set limits, to reflect changing personal circumstances.

Critical Illness

Life Assurance provides lump sum protection in the event of death. Critical illness policies provide lump sum protection against diagnosis of one of a range of defined, survivable illnesses, e.g.: a heart attack.
If provided alongside Permanent Health Insurance, Critical Illness cover offers valuable additional protection, reducing the impact of lost future earnings and additional expenses, such as home modification, which often follow a serious illness.