Income Protection is an Insurance that would pay you a monthly income if you were to be injured or became too sick to work. It is a lot like sick pay although if you were unable to go back to work it would cover you up to retirement age.
This type of insurance pays your family a lump sum upon your death to allow them to pay off mortgages, pay for your funeral and maintain financial security.
You decide how much it should pay and for how long you are protected.
Various options also allow you to add Critical Illness Cover.
These policies protect you and your family from the devastating financial consequences of a critical illness like a heart attack, stroke or advanced cancer.They pay a lump sum if you suffer from one of the illnesses, allowing you to pay off your mortgage, opt for private medical care or simply cover your loss of income.
Have you considered how long you could survive if you lost your job or couldn't work because an injury or illness?
Income Protection policies (with options to cover accident, sickness and unemployment either long or short term) pay you a monthly sum to replace your lost earnings until you can return to work.
Critical Illness Cover (CIC) is an often over looked insurance. While most people buying a new house will obtain some form of life assurance to cover a mortgage should the worst happen, fewer will look at Critical Illness Cover.
There are many differences between Accident, Sickness and Unemployment (ASU) Insurance and Income Protection Insurance. Choosing the wrong type of cover for your needs could leave you out of pocket if you are struck down by a long term illness.
Mortgage Payment Protection Insurance (MPPI) is a type of insurance policy that helps you pay your mortgage and associated costs should you be unable to work due to an accident, sickness or unemployment.
From April 6th 2010 you may not be able to claim your state pension when you expected to!
Your home is one of the most important assets you will ever own. The mortgage over it needs protection with mortgage life insurance.
Life insurance and critical illness insurance policies come with a wide range of options and premiums, so choosing the policy...
Smoking is hazardous for your health, there is little doubt about that, but have you considered that it is also hazardous to your wallet from a Life Assurance point of view?
Redundancy Insurance offers your the chance to ensure a portion of your income can be replaced if you are made redundant.
Critical Illness Cover is a policy designed to pay you a cash lump sum if you are diagnosed with one of a number of designated illnesses.
Your mortgage is one of the largest financial commitments you will ever make.
So is it adequately protected?
For most people, the answer is sadly no!
For many people reaching the age of 50 is the prime of their lives. Why should you be have to pay more for your over 50 life insurance?
Life Assurance / Life Insurance
Life Assurance (commonly referred to as Life Insurance) is an insurance policy which will pay a lump sum of money when the policy holder dies. Usually these policies are taken to ensure that your family could pay off mortgages or loans, maintain a good quality of living or pay funeral costs if the worst was to happen to you or your partner.
Your Life Cover comes with a variety of options to ensure it suits your exact needs such as an index linked benefit, family income benefit, the option of including critical illness cover (known as Life and Critical Illness Cover) and your various options to suit your reasons for taking the cover such as Mortgage Life Insurance (decreasing life insurance) and Term Life Assurance (Level life insurance).
Life Insurance policies are designed to suit your particular circumstances and as such your life insurance term and sum assured are adjusted to suit factors in your own life such as the size and term of your mortgage, your family life situation and other life policies which you may already have.
Even if you already have a life cover, it is important that you regually review it to ensure it remains suitable for your changing life style and circumstances. It is also important because premiums do change and a better deal may be available on your life cover to put the pounds back into your pocket in these hard times.
Critical Illness Cover
We are constantly reminded by the media that heart attacks in the UK are a great problem but the media generally doesn't show the true effect of the condition on a sufferers life and family.
A typical heart attack sufferer may spend weeks or months unable to work and therefore unable to support his family and maintain the roof over their heads. At the same time, a typical sufferer may require specialist care and treatment which on current NHS waiting lists could be months and months down the line.
Critical Illness Insurance from companies like Cura Financial Services Ltd protects you when you suffer from a condition on a specified list of illnesses typically including heart attacks, strokes, advanced cancers, permanent blindness, deafness or loss of limbs and kidney failure, to name but a few.
It can be taken as a standalone product or as part of a Life and Critical Illness cover and in either case will payout a lump sum, direct to you, if you contract one of the illnesses. For many people this vital protection allows them to pay off mortgages and loans they have, replace income lost whilst they cannot work and pay for specialist private treatment. The payout is yours to spend as you see fit and to use as your needs dictate.
What would happen to you and your family if you were to injure yourself today and be unable to work for a prolonged period of time?
A recent government study (DirectGov, Jan 2010) showed that only half of Britain's 29 million workers could survive for four months on their savings if they were unable to work. Combine this with another study (Office for National Statistics, Apr. 2009) which showed that a majority of people off work due to prolonged illness have been off work for more than 6 months and we have a worrying trend for most Britain's.
Apart from saving for a rainy day there are few options to help you prevent financial ruin in these circumstances. Income Protection Insurance however provides you with the ability to protect a portion of your monthly income for exactly this event. Income Protection will commence paying from as little as the first day you are unable to work and will continue paying until you are able to return to work again however long that might be.
If you can't return to work because of your illness, it can continue paying until your retirement and replace your income for the rest of your working life!
Business Life Assurance and Key Man Life Assurance
Protecting the business which you have worked so hard to build is generally at the forefront of a businessperson's mind. Unfortunately what many people forget to consider is what would happen if a 'key man' in the organisation (such as a director) were to die suddenly or have suffer from a life threatening terminal illness.
In companies where a small number of directors own all the companies shares, a sudden death may allow a rival to purchase the deceased's shares and therefore a power stake in the business if the deceased's heir chooses to sell on those shares.
Business Life , also known as Key Man Insurance, will payout a lump sum upon the death of one of the shareholders to allow the surviving shareholders to buy the deceased's stake in the company.
Mortgage Payment Protection Insurance / Unemployment Insurance
Mortgage Payment Protection Insurance comes under a variety of different names which essentially all lead to same idea. Commonly known as Accident, Sickness and Unemployment cover or Payment Protection Insurance, this type of cover will protect you on a short term (12 months or in some cases 24 months) basis if you suffer from an accident or illness that causes you to be unable to work, or if you are made unemployed through involuntary redundancy.
The average Britain will take 4 months to find new employment after he is made redundant (Source: The Guardian, January 2009) and with unemployment on the rise and fewer jobs for people to move into, this time period can only be expected to rise.
Mortgage Payment Protection allows you to protect your families mortgage repayments if the worst were to happen. It will pay for your monthly mortgage repayments along with a little extra for household bills and help to maintain you whilst you search for alternative employment.
Over 50, Over 60 and Over 70 Life Insurance
Looking for life assurance once you are past your 50th, 60th or 70th birthday can sometimes feel daunting.
Many myths exist around over 50s life insurance which lead people to think that getting cover is difficult, long winded and costly.
The good news is that this simply isn't the case! Whether your looking for over 50, over 60 or over 70 life insurance, you can be sure that Top Quote UK will be able to find you the most competitive quote with the least amount of fuss.
We complete as much of the paperwork as we can for you and unlike other life cover designed for over 50 year olds, our policies will payout from day one (no two year wait), be fully underwritten (reducing the risk of non-disclosure) and tailored to suit your exact needs!
What do we offer?
Sourcing the right Life Cover or other cover for your needs, at the most competitive price can be a long winded and complicated process. With a multiude of insurance companies and insurance policies on the market to choose from, knowing exactly which one suits you best can be like finding a needle in a haystack.
Cura Financial Services Ltd offers you the help, advice and tools to make an informed decision on your life cover, critical illness insurance or income protection needs.
You can get your quotes within a few minutes and unlike other comparison websites we will show you your quotes instantly online and give you the option to either enquire online or speak to one of our friendly fully qualified advisors if you feel you'd like some advice or guidance.
A mortgage is one of the biggest financial commitments that you will make during your life but in the current financial climate it is very easy to become redundant and struggle with the repayments.
Accident, Sickness and Unemployment Insurance could be your lifeline!
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"Cura Financial Services Ltd showed great composure and honesty when setting up my policy, they were very patient and took great time to assess my needs"
"I got a quote within a few
minutes which was far lower
than anywhere else and I was able enquired online!