The terminology of protection can get a little confusing at times, especially when the term encompasses so many different types of cover, such as Life insurance, Critical Illness Cover, Home Insurance...it's not surprising that it can sometimes be difficult to penetrate the jargon.
Make It A Priority
However, confusing the world of protection may seem, safeguarding what's precious to you, whether it's your family, your health, your life or your possessions, will do wonders for your peace of mind.
It covers you for a fixed period and pays out a one off lump sum if you die during the policy term. With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy.
Critical Illness Cover
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy as an additional benefit but can also be a standalone plan.
This type of protection involves a pay out being made if your property is destroyed by fire, floods or subsidence. Damage to fixed fittings such as baths and kitchens are often included, as well as sheds, greenhouses and garages.
An Income Protection plan is designed to pay out a regular income in the event you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).
It covers the loss of or damage to the contents of your home. This could be your furniture, electrical goods and other items within your home. Some policies cover you for items you take outside, for example cameras, jewellery and briefcases. Generally covering you if your belongings are stolen or lost in a fire.
We've Got You Covered!
We know how confusing these different types of protection policies can be and the different levels of cover they offer. We'll explain those differences in plain English and will help you to find the deal that best suits you and your needs. So, you can breathe easy knowing that those you love most are protected.
As with all insurance policies, conditions and exclusions will apply
We can help you!
Your home may be repossessed if you do not keep up repayments on your mortgage
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.