It depends on your individual circumstances. You may want to think about leaving a lump sum for your dependents, help clear an outstanding mortgage or debt on your death.
Mortgage life insurance is designed to help pay off your outstanding mortgage amount in the event of your death.
If you die during the period of your cover, your policy pays out your chosen amount of cover. You choose the amount of cover you need and the length of time you want to be insured for.
32% of households have no savings putting them at considerable risk if illness prevented the breadwinners from working.
You think it won’t happen to you, but if it did, how long could you afford to pay for everything such as your mortgage or rental payments, household bills, children’s school fees, mobile phone and broadband payments. Bills don’t stop even if you are very sick.
Income protection can provide you with a regular monthly income if you suffer a loss of earnings due to ill health or injury and as a result are unable to work.
Critical illnesses are a lot more common than a lot of people believe and can affect anyone at any time. A number of critical illnesses are now being diagnosed at a younger age.
State benefits only offer a limited amount and legally your employer only has to support you for the first 28 weeks. Whether or not you receive full pay is at your employer’s discretion.
Critical illness cover is designed to help you or your family manage during this difficult time if you are diagnosed with a Critical Illness by paying out a tax free lump sum to help with bills, support the family or possibly help with rehabilitation or adjustments you made need to make to your home.
Life insurance is designed to pay out a cash sum if you die during your chosen period of cover, which is a maximum of 50 years, but the policy must end before your 90th birthday. Life insurance is underwritten so during the application process we'll ask questions about your medical history, occupation and lifestyle.
Over 50s Life Insurance is designed to cover you until you die no matter when death occurs, providing you have held the plan for more than one year. To apply, you must be aged 50-80 and a UK resident. Over 50s life insurance is not underwritten so you wont be asked any medical or health questions.