Question 1

What is critical illness cover?

Accepted Answer

Critical illness cover pays a tax-free lump sum if you’re diagnosed with a serious condition listed in your policy, such as cancer, heart attack, or stroke. This money can be used however you choose—whether that’s for treatment, recovery, or helping support you financially if you can no longer work. It is important as this helps reduce stress so you can focus on recovery instead of money worries.

Question 2

Isn’t sick pay from my employer enough?

Accepted Answer

Employer sick pay or Statutory Sick Pay (SSP) is often limited and only lasts for a short period. Many people find it doesn’t fully cover their monthly expenses. Income protection can top this up or replace your income more effectively.

Question 3

What is income protection insurance?

Accepted Answer

Income protection provides a regular monthly payment if you’re unable to work due to illness or injury. It replaces a portion of your income until you recover, return to work, or reach the end of the policy term. This helps you meet financial commitments if you are unable to work.

Question 4

What are over 50's plans?

Accepted Answer

Over 50s plans are simple life insurance policies designed to leave a lump sum to loved ones, often used to help cover funeral costs or leave a financial gift.

Question 5

What is family income benefit?

Accepted Answer

Family income benefit provides regular monthly payments to your family if you pass away during the policy term, helping support ongoing living costs.

Question 6

How much cover do I need?

Accepted Answer

The amount of cover depends on your personal circumstances—such as your income, debts, mortgage, and family responsibilities. A good rule of thumb is to ensure your cover would support your loved ones or maintain your lifestyle if the unexpected happens.

Question 7

When should I take out protection insurance?

Accepted Answer

The best time to take out cover is as early as possible. Policies are typically cheaper when you’re younger and healthier, and it ensures you’re protected before any unexpected health issues arise.

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Mortgage Protection

What is mortgage protection?

Do you need mortgage protection?

Frequently asked questions