Life’s complicated enough when you’re fit, well and have a steady income coming in. No one needs the added financial, practical and emotional problems that a death or critical illness can bring.
But sometimes, without warning, these things happen.
Protection insurance can’t stop death or a critical illness, but it can make dealing with the financial consequences a lot easier.
What are the options?
Life cover would provide for your family if you die or become terminally ill.
Critical illness cover could give you a lump sum if you were diagnosed with a critical illness like cancer, heart attack or stroke if it meets the plan’s definition of that illness.
Income protection cover pays out a monthly income if you are unable to do your job due to accident or illness.
Is it expensive?
Not necessarily. Just £10 a month could buy just over £250,000 of life cover.¹
Or £10 a month could give the same person just over £31,000 of life or critical illness cover.² Even that amount could help you by covering your mortgage and everyday bills and expenses if you became ill, leaving you to concentrate on getting better. The amount it covered would depend on the level of cover you choose and your outgoings.
Many of us already insure our homes, our pets and even our mobile phones – so why not insure ourselves?
Extra benefits
We can recommend a plan that gives you that little bit extra. As well as offering outstanding protection, certain providers also include practical and emotional support through additional services. These can include access to:
- A face-to-face second medical opinion
- A dedicated nurse
- Bereavement counselling
- Complementary therapies
- Practical help at home
You can start using this service as soon as your plan starts.
If you’d like to find out more, and find out how much a personal protection plan might be, please click to get in touch here.
Sources:
1 – Client, 30 next birthday, non-smoker. Life Cover, 25-year term, level lump sum of £251,752.76 on guaranteed rates, payment £10.00 a month, including plan charge of £2.60.
2 – Client, 30 next birthday, non-smoker. Life or Critical Illness Cover (without Children’s Critical Illness Cover), 25-year term, including TPD, level lump sum of £31,776.99 on guaranteed rates, payment £10.00 a month, including plan charge of £2.60.
Both Royal London, April 2018.