In many areas of our lives we provide ourselves with specific protection - we insure our cars, our houses, holidays and even our pets. Too often we don't insure the most important element of all - ourselves and our families.
Protection plans are designed to protect against the financial hardship caused by death or serious illness. Planning ahead will give you enormous peace of mind that if you die or become seriously ill, your dependents' needs can be looked after.
Protect your family if you die/become seriously ill
Term Life Cover is the simplest cover of all - you pay a guaranteed fixed contribution and you are covered in the event of death. A lump sum payment is then made to your dependents should death arise during the period that the cover is in force.
Serious Illness Cover can also be taken out to provide your family with a lump sum if you suffer one of a number of specified illnesses. Your family are free to use the money to pay off outstanding debts, supplement household income and provide for your dependents, or pay off the outstanding balance of your home loan if used for that purpose. In most circumstances, payments are made by the life company tax free to beneficiaries.
