Insurance products

During these uncertain times, there are things you can do to help financially protect your loved one’s future, and we’re here to help.

What if the unthinkable happened to you? Life insurance is there to ensure the life you’ve built together goes on. With the rising costs of living and less disposable income for many, life insurance could be more important than ever. From keeping the roof over their heads, to paying the ever-increasing bills, life insurance means you can keep providing the things that really matter even after you're gone.

How does Life Insurance work?

Think of life insurance like a safety net. It could pay out a cash sum if you were to pass away while covered by the policy. Or if you're diagnosed with a terminal illness where life expectancy is 12 months or less. Choose between Life Insurance, where the amount of cover stays the same, or Decreasing Life Insurance where the cover reduces roughly inline with how a repayment mortgage reduces.

Critical Illness Cover can be an invaluable way of protecting you and your family against the financial implications you would face if you were diagnosed with a critical illness. It can be added for an extra cost when taking out Life Insurance or Decreasing Life Insurance.

You and loved ones could receive a cash sum if you’re diagnosed with, or undergo a medical procedure for one of the specified critical illnesses that we cover during the length of your policy, and you survive for 14 days from diagnosis. It could help with child care costs, household bills or to help maintain your standard of living if you're forced to take time off work to recover.

For most of us, being unable to work for medical reasons would present a serious financial challenge. What would happen to you or your loved ones if you couldn’t work due to illness or injury which resulted in a loss of earnings? How would you cover your outstanding bills like rent, mortgage or other living costs.

Income protection insurance can give you the peace of mind you deserve. A loss of earnings could have a real financial impact on any family’s lifestyle, and income protection insurance is designed to meet the needs of people who want to protect against this, by paying out a regular monthly amount.

If you own your own home, whether it’s a two-bedroom flat or a four-bed detached property, you’ll need to have buildings insurance in place to ensure you would pay for any necessary repairs, should your home suffer any damage.

Depending on your lender and your circumstances, buildings insurance is usually a condition of your mortgage. If you own your own home, it makes sense to have this type of insurance in place and without it, you could be putting your mortgage and your home at risk.

What are the options?

Buildings insurance covers damage to your home’s structure, such as the walls, roofing, floors, and often fixtures and fittings too. For instance, if you have a fitted kitchen or bathroom, your insurance is likely to pay for any repairs you need.

Contents insurance is for things like furniture, TVs, personal belongings and some types of flooring, including carpets. A simple way of putting it; if you turned your house upside down, contents insurance will cover you against the belongings that fall out of it. Different policies provide different levels of cover but usually you’ll be covered against theft, fire and flood.

Accidental damage cover also insures your belongings against any accidental damage. It’s worth keeping in mind that accidental damage cover is usually optional so don’t assume it’s included in your policy.

You can buy both buildings and contents insurance separately or as a joint policy.

How much cover do I need?

How much cover you need to have in place will depend on the value of your property and your personal possessions.

Think about what you might need to replace in the event of a robbery or a fire, and how much it would cost to replace these. This will help you work out how much cover you might need to take out.

Check what your individual insurer and policy cover is, as policies vary from one insurer to another in exactly what events you’re covered for, and for how much. Check that you’re happy with everything that the policy covers, as there can often be exclusions.

If you’d like to speak to a protection adviser to find out more about buildings and contents insurance, please feel free to contact us today.