LIFE INSURANCE: Life Insurance is one of those products that make us look at our life and accept that at some point the party will have to end, a depressing thought for most people. Without such protection as life insurance you may be leaving your loved ones open to financial hardship after you have gone, funeral costs, mortgage, loans and school fees are just some of the things that have to be faced by your loved ones.
SPECIFIED ILLNESS: When you are young you feel invincible, you can take on the world, falling ill or being incapacitated is not a concern for most of us. As we get that bit older we come to realise that while we can still take on the world we are not as invincible as we first thought, a serious illness can take you by surprise and leave you facing a financial shortfall. Specified illness cover is there to providing financial protection to those that are diagnosed and/or may need treatment for an illness deemed serious.
INCOME PROTECTION: Income Protection is generally paid in installments after your deferred period and is paid on an on-going basis until you are able to return to work, your policy ends, you reach retirement age or you die, which ever may be first. There is no specific conditions to be met, if you are certified unable to work the policy will come into effect.
SPECIFIED ILLNESS stand-alone: Specified illness cover is there to providing financial protection to those that are diagnosed and/or may need treatment for an illness deemed serious. This is usually taken out in conjunction with a Life or mortgage protection plan but can also be taken as a stand alone policy.