While none of us likes to think that something bad could happen, it makes sense to have a financial back up plan which can help you, your family or your business meet your financial responsibilities should you die or fall ill and be unable to work.
Life insurance can provide financial help for your family if you die or are diagnosed with a terminal illness. Whole of Life Insurance is a form of life insurance that does not come to an end when you reach a certain age - it lasts for the ‘whole’ of your life. Income protection helps pay your bills if you are too ill to work. Critical illness cover can provide financial support if you are diagnosed with a serious illness.
It’s not just the prospect of dying which you and your family should protect your finances against. Our own analysis suggests people are four times more likely to claim on income protection insurance than on life insurance. (Source: AIG actuarial data, March 2015)
For business owners, a business protection policy can provide financial support and protect your business expenses, loan repayments or even protect your shareholdings if a key member of the team dies or falls seriously ill.
The type and amount of insurance that you should have in order to provide financial security for your family or business will depend on your financial situation. It’s up to you to work out how much insurance you would need to cover financial commitments such as your mortgage, household bills and living expenses.
We recommend you speak to a financial adviser to find out what and how much financial support you need, as well as deciding which of our products and features suit you. If you don’t already have an Independent Financial Adviser, you can find one at www.unbiased.co.uk
A menu plan which allows you to add multiple benefits under one policy.Read more
A life insurance product that has no ‘end date’Find out more
Offers the same great life insurance and critical illness options as YourLife Plan, but at a lower initial costRead more
Find out more about our critical illness coverLearn more
Pays money if you die or are diagnosed with a terminal illness and have less than 12 months to live.Read more