Protection policies are designed to protect you and your family from the financial consequences of accident, sickness, critical illness and death.
Newcastle Financial Advisers Ltd offer advice on different types of protection policies, all of which could help your loved ones survive without your income if the worst were to happen and offer you valuable peace of mind.
If you or your family were to come up against a situation that meant you would lose your regular income a protection policy could help you to:
- Pay off your mortgage or continue to make mortgage payments
- Maintain you or your family’s lifestyle
- Pay for replacement childcare
- Cover school or university fees
- Pay for specialist nursing support
You may already have these policies in place, but it’s always worth reviewing your policies to make sure the type and amount of cover provided still matches your personal circumstances.
Newcastle Building Society introduces to Newcastle Financial Advisers Limited for advice on Investments, Pensions, Life and Protection Insurance and Inheritance Tax Planning.
Different types of protection
If anything were to happen to you or your partner, it might leave your loved one’s facing financial difficulties. With Life Assurance, your family gets a lump sum or regular income when you (or another person who is named as a life assured on the plan) passes away.
If you were diagnosed with a critical illness, it could lead to you not being able to work or provide an income for your loved ones.
Critical illness protection policies pays you a lump sum if you’re diagnosed with one of a number of specified critical illnesses.
Income Protection insurance means that if you are unable to work because of an accident or sickness, you would receive a regular tax-free pay-out to support you and your loved ones.