Whilst insuring ourselves against an undesirable event such as sickness or even death may not be a pleasant thing to think about, the benefit of being able to set financial issues aside during an emotional time cannot be overlooked.
Whether you are looking to protect your mortgage or loved ones during a difficult time, many people will only consider life insurance once they have a financial commitment such as a mortgage but this should not be the case. DJB Mortgage Solutions feel all families should have life insurance in place, as this will make sure that in the event of a loved ones death the family will not suffer with a loss of income.
Even though protection products can appear simple on the surface, setting up a plan correctly is extremely important. Rather than search the entire market for the ‘cheapest’ premium available, we will take all factors into consideration and ensure that your policy has the right terms available for your own circumstances and is set up in absolutely the right way.
This can be set up on many different basis to either pay out a lump sum or provide an income for a set period of time in the event of the insureds death.
Critical Illness Cover
Critical illness cover provides a lump sum benefit or income in the event of diagnosis of certain critical illnesses or medical conditions, such as heart attack, stroke, transplant, blindness, total & permanent disability and so on. I explain the illnesses that are normally covered as a life changing condition, however each provider sets out the conditions they cover and to what degree.
This type of policy is designed to provide an income in the event that the insured individual becomes unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work, retire or die. Income Protection policies are usually written to retirement age.