It's a sad fact that whilst most of us are quite happy to insure our car, our house and our travel arrangements to their full value, few of us take quite as much care over our health and loved ones. This guide will assist you in considering your own situation.
Non-Profit Whole Of Life Assurance covers an individual for an amount of money that they select when they apply for a policy, this referred to as the “cover amount”. The policy will cover that individual for the whole of their life.
Although Critical Illness cover is sold by life assurers, there is a big difference when compared with life insurance - you don't have to die to benefit from the Critical Illness insurance policy. This type of cover is designed to pay out a lump sum in the event of you suffering from certain types of critical illness or if you have to undergo certain types of surgery as specified in the policy terms and conditions.
Income Protection Insurance is designed to pay you a regular monthly income if you are incapacitated and unable to work due to illness or injury.
The name says it all. It's term assurance, as you only get a payout within the set 'term' e.g. 18 years. Its level, because the payout you get is fixed from the start of the term until the end. Level term assurance thus guarantees a known lump sum payout upon death within a fixed time e.g. £150,000 if you die within the next 18 years.
Mortgage Life Assurance is designed to pay off the remaining mortgage debt on repayment mortgages if you die within a set period. It ensures your dependants need not worry about repaying the mortgage if you die.
UK News
As the government outlines its spending plans, people with a range of incomes tell us where they think the money should go.
The employment market is "weakening" official figures suggest, as cautious businesses delay recruitment.
The future for EVs will inevitably involve China. But where does that leave the UK and Europe markets – and what of the questions around national security?
The media giant will separate its studio and streaming business away from its cable TV networks.
Light shows involving hundreds and even thousands of drones are becoming big attractions.