Protect yourself for when life happens

There’s nothing we can do to stop life happening, for better or worse. What we do have control over is how we prepare ourselves.

Taking out financial protection is one way you can do this. It's a safety precaution which can go a long way if something bad happens. For example, if you fall ill and are unable to work. You may have loved ones that rely on your support or bills that need paid. Knowing you've got a backup plan in place could mean one less thing to worry about, and possibly even a better night's sleep.

Income Protection

Being unable to earn is less of a worry if you know your salary is protected. If you have to take time off work and suffer a loss of income – perhaps because of an illness or injury  – then you'll still receive some of your income. Most policies have a waiting period between when you’re unable to work and when you can receive payments. They also usually have a limit on the amount you can cover yourself for.

Life cover

It's perfectly normal to insure things like our homes and cars, so why shouldn't we take the same precautions with our lives? Life cover provides your beneficiaries with a lump sum if you die within the term of cover. This can help towards financial commitments which your loved ones might be left with.

Critical illness

This pays out a tax-free lump sum if you're diagnosed with a specified serious illness. Typically, these are life-threatening conditions such as some types of cancer, heart attack or stroke. There's a chance you might never need it, but it's often better to be safe than sorry. It can be a great way of helping those closest to you financially.

Over 50s cover

This pays out a tax-free lump sum which can help loved ones after your death. This might help towards funeral costs, for example. Although, it doesn’t have to be used for anything in particular. It covers your whole life, meaning it pays out regardless of when you die. What you do have to be aware of is that, from the point of taking out cover, there’s a time in which it won’t pay out – usually a year or two.