Life insurance

Level term policies are a fixed term (i.e. 25 years) and the pay out will be the same no matter when you claim. 

Decreasing term policies will decrease the longer you have your policy and are normally tied in with your mortgage.

A whole of life policy will cover you and pay out no matter when you claim on the policy. 

Critical Illness cover will protect you if you become diagnosed with a defined critical illness. and will pay out a lump sum after diagnosis.

Tailor made insurance for people over the age of 50 with medical conditions or who have had problems getting life insurance in the past. Guaranteed acceptance and no medical required.

Income Protection pays you an income if you become ill or injured and, as a result, are unable to work. You decide the amount of income, or Benefit, you wish the plan to pay and for how long it's paid for, the Term.

The Insurance Company set maximum limits to the benefits payable, typically between 66% and 75% of your earnings. This takes into account the tax and NI that you would pay on earnings. It also gives you an incentive to return to work as soon as you are well enough.

The monthly benefit doesn't usually kick in straight away; it starts after a preselected time period of illness, the Deferred Period. The deferred period is typically 3 or 6 months.

If a claim is successful, the policy will pay the benefit until you return to work or, if you don't, until the end of the term.

If you don't claim on the policy you will get nothing back.