Insurance
If you already have a policy in place, we may be able to find a more suitable policy and also save you money. It is also possible that your current policy is not suitable for you anymore, so please call us at our Hertford office in Hertfordshire (Herts) on 01992 503 162 or 07860 316 314 for specialist advice and a free, no obligation quote.
Why have insurance?
A death or serious illness in the family can have many sad consequences. The sad reality is that there are almost always financial consequences for the family if a person dies or suffers a serious illness.
Even if a person does not work there are still likely to be financial consequences for either death or serious illness. Non workers are likely to provide services for the family such as looking after young children. These services cost money to provide and financial protection is therefore required to ensure the continued provision of such services.
Many people make little or no provision for minimising the impact of the financial consequences of death or illness, for some this may be because they believe they cannot afford to do so, not realising how cheap protection policies can be, especially if taken out when young, and others believe it will simply not happen to them.
Sadly, statistics show that there is a greater chance that it will than most people realise. By choosing not to make adequate provision to protect their financial future a person is effectively gambling on their health or their life.
In the UK the probability of dying before the age of 65 is about one in eight for males and one in twelve for women. What many people do not realise is that the risk of long term sickness is even greater than the risk of premature death. The harsh reality is that, statistically you are far more likely to suffer a serious illness than to die before retirement age.
How protection policies can help
Critical illness cover provides a lump sum in the event of diagnosis of one of a range of predetermined serious conditions or if the insured suffers a serious and permanent disability.
Permanent Health Insurance (PHI) sometimes referred to as income protection, is designed to replace the earned income if the insured suffers an illness or accident. It can also be used to offset the financial consequences of illness or accident of non workers.
Personal accident, sickness and unemployment insurance (ASU) is designed to provide a scale of benefits should the insured suffer an accident or become unemployed. In the event of a claim as a result from an accident or illness, the amount paid out will depend on the severity of the effects of the illness/accident.
Mortgage payment protection insurance is also designed to provide an income in the event that a person cannot carry out their job due to illness. The amount of benefits may be linked to the level of monthly mortgage repayments, although it is sometimes possible to build in extra cover to meet some household bills.
Call us at our Hertford office in Hertfordshire (Herts) on 01992 503 162 or 07860 316 314 for specialist insurance advice and a free, no obligation insurance quote. 7 days a week, 9am to 9pm.