15th July 2019


Income protection

These policies are designed to replace a proportion of your income should you be unable to work due to an accident or illness. You can also get policies that will cover you if you are made redundant, although these will cost more. Long-term income protection will cover you until you reach retirement, while shorter-term income protection policies are cheaper and will only pay out for a set period of time.

Mortgage payment protection

This will cover your loan repayments for a set period, generally up to two years if you lose your job or have an accident or illness which leaves you unable to work.

Critical illness cover

This pays out a lump sum if you develop one of a range of serious medical conditions listed in the policy. The conditions covered are very specific and normally include certain types and stages of cancer, strokes and heart attacks, but each policy is different. It can be bought alongside life insurance or separately.
