There are a number of protection policies available to help people cope financially at a time they need it most. Life Insurance, Income Protection and Critical/ Serious Illness policies are available. These policies would offer financial assistance depending on the circumstances that you face.
Why you should consider protection?
- Could you afford to pay your mortgage/ rent if you were unable to work for a period of time?
- If you were to suffer a debilitating illness, would a lump sum help you and your family to cope financially?
- In the event of your death, would you want to leave a cash sum for your family/ loved ones to assist with paying off your mortgage or any loans or financial agreements that you have?
- In the event of your death would you like to leave a lump sum to help bring up your children and see them through education
Protection plans are usually available on an individual or company basis. The options available to both sectors are similar. The underwriting criteria will differ slightly on a group risk basis.
What should you consider when investing in a protection policy?
- The amount of money you would need to cover your monthly financial out-goings?
- Do you have any savings that could be used if you were unable to work for a certain time period?
- How much money would your family need to cover any existing mortgage or financial agreements?
- What level of disposable income you have to pay the monthly premiums?
- Do you want to look at a combination of cover?
It is essential that you know the difference between the types of cover that are available to you. You need to be able to make an informed decision as to which type of policy would suit your requirements. At SMP Healthcare Ltd, we would discuss your circumstances, ideal requirements and budget. This would enable us to advise you of the options available for your protection policies.
Our staff can help you to find the right policy whether you decide that Life insurance, Income Protection or Critical/ Serious Illness cover is your best option.
* Please Note that Income Protection/ Critical or Serious Illness/ Life Insurance and associated policies have no cash value. They will not pay out if you reach the end of the policy without a valid claim.