The most important asset for everyone is their income. It is important to protect your income in the event of your death or if you get sick and are unable to work. How will your spouse/partner, children or relatives manage financially if you die unexpectedly? Without a life insurance policy, your loved ones may face great financial difficulty if something should happen to you. Mortgage payments, day-to-day living expenses, credit card bills, etc. would still have to be met by those you leave behind. A Life insurance policy pays a lump sum to your estate in the event of your death, so you know that those who matter to you most are protected. It’s peace of mind for you and your family. Life assurance can ensure that your family has sufficient financial resources to continue their lives.
Modern life assurance policies are very flexible, and you can decide on the amount, the term, and any extra options you might require. Pure Finance has agencies with all the main insurance companies, so we can help you identify the insurance company with the best benefits and the most competitive price. We also offer periodic discounts with off-market pricing.
Mortgage protection
It is a requirement to take out mortgage protection once you take out a mortgage. Mortgage protection is a form of life cover that protects your mortgage debt in the event of your death.
It is important to note when taking out a mortgage, you are free to shop around for your own mortgage protection policy. You are not obliged to take out the policy your mortgage provider offers you. Also, if you have a policy, you are entitled to review this at any stage to see if there is a better deal available. Most banks and brokers only deal with one or two providers. We will compare all insurers and offer the best price mortgage protection for you.
Serious illness cover
Serious illness insurance pays you a tax-free lump sum if you are diagnosed with a listed specific illness as specified by an insurance company. The lump sum that this benefit provides can be vital as extra cash is often needed to pay for medical bills, travel to and from hospital, extra childcare, etc. It is very important to review your policy and check the list of illnesses you are covered for and to check the wording.
Income protection
Income Protection provides you with a replacement income if you cannot work because of an illness or injury after a certain period, known as the deferred period. Income protection is under-rated, and I believe it is the most important type of insurance you can take out. By taking out an income protection policy, you will have the re-assurance that your income is insured and protected, and this will give your family and you piece of mind, in the event that you ever get an illness that prevents you from working for a period of time.
*This calculator gives indicative results for illustrative and guidance purposes only, and does not constitute financial advice.
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