Life Insurance pays a cash lump sum to your family, or to someone else you’ve nominated, if you die. This can be arranged on a level basis, so the lump sum amount stays the same, or on a decreasing basis, where the lump sum amount decreases in line with your mortgage.
Critical illness cover, or serious illness cover, pays a cash lump sum if you are diagnosed with a serious illness, again this can be arranged on a level or decreasing basis. There is a wealth of difference in the conditions covered by providers from 39 serious illness conditions up to 166. Prestige can help you decide which provider is the best for your circumstances.
It is important to consider your income provision if you are unable to continue your normal duties at work due to ill health. Income protection (PHI) gives peace of mind that should the unfortunate happen, you are able to keep your home and maintain your standard of living as the cover will pay you an income until you recover and are able to return to work.
Private medical cover is often seen as an expensive luxury, however it can be very reasonably priced and can mean that at a time of worry you have access to medical consultants without having to wait for the NHS.