If your children, partner or other relatives depend on your income to cover the mortgage or other living expenses then you should consider protecting that income.
In the event of death then life cover can provide the funds to repay outstanding debts and maintain lifestyle.
In the event of serious illness your ability to earn may be reduced or removed completely for a short period of time or possibly indefinitely. Critical illness cover can provide the funds to ensure your standard of living is not reduced during this difficult period.
Critical illness insurance is a long-term insurance policy where you’ll get a tax-free ‘lump sum’ – a one-off payment – if you’re diagnosed with one of the serious illnesses covered by your insurance policy. It’s designed to pay off your mortgage, debts, or pay for alterations to your home such as wheelchair access should you need it.