Personal protection
Protect the people and plans that matter most.
Life can change quickly. Protection planning helps you understand the financial impact if you died, became seriously ill or were unable to work — and what cover may help reduce that risk.
Start with real life
What would happen financially if life changed?
The right starting point is not “Which policy should I buy?” It is understanding which event would create a financial problem for you or the people who depend on you.
Think about the financial gap your death could leave behind.
That may include a mortgage, other debts, household income, childcare, education costs, funeral costs or a longer-term need to support a partner or family.
A serious illness can affect finances even when someone survives and returns to work later.
Time away from work, treatment, adapting the home, travel, reducing working hours or repaying debt may all create additional costs.
Your income is often one of your household's biggest financial assets.
Income protection can be considered where illness or injury would otherwise make it difficult to meet regular living costs or financial commitments.
Protection needs are not fixed forever.
A new mortgage, children, changes in income, separation, business ownership or existing cover ending can all justify reviewing what protection is still appropriate.
Types of cover
Different risks need different solutions.
Life insurance
Life insurance can provide a lump sum if the insured person dies during the policy term, helping protect people who depend on them financially.
- Mortgage or debt repayment
- Family financial support
- Replacing lost household income
Critical illness cover
Critical illness cover can pay a lump sum if you meet the policy definition for one of the specified serious illnesses or conditions.
- Reducing debt
- Adapting to changed circumstances
- Creating financial breathing space
Income protection
Income protection is designed to provide a regular income if illness or injury prevents you from working, subject to the policy terms and definition of incapacity.
- Regular household costs
- Mortgage or rent commitments
- Longer-term income resilience
Why protection planning matters
The policy is only useful if it protects the right financial risk.
Protection planning considers who depends on your income, what commitments would remain if something happened, what cover you already have and how long support may be needed.
That means looking at the amount of cover, the term, affordability, policy definitions, waiting periods and how the cover fits alongside employer benefits, savings and other arrangements.
Protection policies are subject to underwriting, policy terms, definitions and exclusions. A claim will only be paid where the policy conditions are met. Premiums normally need to be maintained for cover to continue, and many protection policies have no cash-in value. If you are replacing existing cover, do not cancel the existing policy until the replacement has been fully underwritten, accepted and put in force, and you understand any differences in cover, exclusions, definitions, premiums and benefits.
Our process
Start with the risk. Then decide what protection is appropriate.
Understand the need
Identify who or what would be financially affected if you died, became ill or could not work.
Review what you have
Consider existing policies, savings, employer benefits and other resources that may already provide support.
Research suitable cover
Compare appropriate options, definitions, terms, exclusions, costs and provider underwriting requirements.
Put cover in place
Help progress the application through underwriting and ensure existing cover is not cancelled too early.
Frequently asked questions
Your questions, answered.
How much life insurance do I need?
There is no universal figure. The need may be based on debts, mortgage commitments, replacement income, family support and the period for which that support is required.
What is the difference between life and critical illness cover?
Life insurance is generally designed to pay on death during the policy term. Critical illness cover is designed to pay if you meet the policy definition for a specified serious illness or condition.
How does income protection work?
Income protection can provide a regular benefit if illness or injury prevents you from working, after an agreed waiting period and subject to the policy's terms and incapacity definition.
Will medical history affect the application?
It can. Insurers may ask medical, occupational, lifestyle and financial questions and may request additional information before deciding the terms they can offer.
Should I replace an old policy with a new one?
Only after comparing the old and proposed cover carefully. Existing policies may have valuable terms or definitions, and replacement cover should be fully accepted before anything is cancelled.
Should life insurance be written in trust?
It can be appropriate in some circumstances. A suitable trust may help the policy proceeds reach the intended beneficiaries without first passing through the estate and can affect how the proceeds are treated for probate and Inheritance Tax purposes. Trusts are not right for every case, so the ownership, beneficiaries and tax consequences should be considered carefully and legal or tax advice may be appropriate.
Should protection be reviewed?
Yes. Significant life changes such as a new mortgage, children, changes in income or employment, divorce or business ownership can all change the financial need.
Protect what matters
Start with the financial risk you want to protect against.
We can help you understand what you already have, where the gaps may be and which type of cover is appropriate to consider.