Life and Protection Insurance policies can protect you and your family from the financial consequences of death, a serious accident or illness, or unemployment. We have over 30 years’ experience providing a wide range of cover.

 

Life Cover

Helps provide financial security for people who depend on you, should you die. Although money can’t replace a loved one, it can help those left behind to weather the financial storm. For example, it could pay off the mortgage or provide an income to help cover regular household expenditure.

Types of Life Insurance

There are different types of Life Insurance – the most appropriate type for you will depend on your circumstances. Life Insurance will pay out either a single lump sum (sum insured) or a regular income when you die.

Term Insurance

This is the simplest type of Life Insurance. You choose how long you’re covered for, e.g. 20 years (the term), and the policy pays out if you die within the agreed term. You can also take out term cover as a couple, with the policy paying out on the first death only during the term. There are several different types of Term policy available, depending on your needs.

Family Income Benefit Insurance

This is essentially the same as Term Insurance, but instead of paying a lump sum when you die, it will pay out a regular income instead. This type of payment may be more suitable where the main purpose of the policy is to provide ongoing financial support to dependents.

Whole of Life Insurance

This pays out a lump sum when you die, whenever that is, as long as you are still paying the premiums.

Critical Illness

Critical Illness Insurance pays out a tax-free lump sum on the diagnosis of certain life-threatening or debilitating (but not fatal) conditions including heart attack, stroke, cancer and major organ transplants.

This list will vary depending on the insurer, as will the exclusions for making a claim.

Critical Illness Insurance often comes as an optional addition to a Life Insurance policy, but can also be purchased on its own.

Policies usually only pay out once, so they don’t necessarily replace your regular income, but you can use the money towards medical treatment, your mortgage or anything else you choose.

Many people buy Critical Illness Insurance when they take on a major commitment, like a mortgage, or start a family. However, since we’d all like to have our financial commitments lightened if we were to suffer a serious illness or injury, the cover is relevant for most of us at any time.

If you already have Critical Illness Insurance you should think carefully before you cancel your existing policy and take out a new one.

For example, if you’ve developed any illnesses since you first took out the policy, you may lose some of the benefits when you replace it. That’s because pre-existing medical conditions may not be covered by the new policy.

Income Protection

Income Protection Insurance pays out a regular tax-free replacement income if you become unable to work because of illness, injury or, with certain policies, unemployment.

It could help you keep up with your mortgage repayments and other living costs until you’re able to return to work.

Policies have a waiting period before they pay out, which begins when you become unable to work. The longer the period chosen, the lower your premium. It’s a good idea to find out what your employer would pay you, and what state benefits might be available so you can choose an appropriate waiting period.

The premium you’ll pay will vary depending on your age, health and job, as well as the level of income you wish to protect.

If you become ill or suffer an injury during your working life, an Income Protection policy can help protect against any possible loss of income, and speed your return to work.

Home Insurance

With such a wide choice of options available Ensign can tailor Buildings and contents cover or a protection package that suits your needs and budget exactly.

Unemployment Cover

Income Protection Insurance pays out a regular tax-free replacement income if you become unable to work because of illness, injury or, with certain policies, unemployment.

It could help you keep up with your mortgage repayments and other living costs until you’re able to return to work.

Policies have a waiting period before they pay out, which begins when you become unable to work. The longer the period chosen, the lower your premium. It’s a good idea to find out what your employer would pay you, and what state benefits might be available so you can choose an appropriate waiting period.

The premium you’ll pay will vary depending on your age, health and job, as well as the level of income you wish to protect.

If you become ill or suffer an injury during your working life, an Income Protection policy can help protect against any possible loss of income, and speed your return to work.

Your home may be repossessed if you do not keep up repayments on your mortgage

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