Life and Protection Insurance

The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in mind, it makes sense to periodically review your cover with the help of a professional financial adviser. This section provides helpful information on the different types of protection product available.

The Financial Conduct Authority does not regulate Trusts.


Although Critical Illness cover is sold by life assurers, there is a big difference when compared with life insurance - you don't have to die to benefit from the Critical Illness insurance policy. This type of cover is designed to pay out a lump sum in the event of you suffering from certain types of serious illness or if you have to undergo certain types of surgery as specified in the policy terms and conditions.
Income Protection Insurance is designed to pay you a regular monthly income if you are incapacitated and unable to work due to illness or injury.
The name says it all. It's term assurance, as you only get a payout within the set 'term' e.g. 18 years. Its level, because the payout you get is fixed from the start of the term until the end. Level term assurance thus guarantees a known lump sum payout upon death within a fixed time e.g. £150,000 if you die within the next 18 years.
Mortgage Life Assurance is designed to pay off the remaining mortgage debt on repayment mortgages if you die within a set period. It ensures your dependants need not worry about repaying the mortgage if you die.
Whole of Life Assurance is designed to pay out in the event of death, whenever it occurs. The premium you pay also includes an investment element which helps to pay for the cost of cover over time. The cost of cover can be more expensive than term assurance, but there is usually a claim value too.
It's a sad fact that whilst most of us are quite happy to insure our car, our house and our travel arrangements to their full value, few of us take quite as much care over our health and loved ones. This guide will assist you in considering your own situation.

Personal Finance

LONDON (Reuters) - Britain's rock-bottom household savings problem, which has raised fears about unsustainable debt-fuelled spending, might not be quite so acute after all, according to the country's statistics office.
LONDON (Reuters) - Britain's competitions watchdog will look into the advice given by consultants to pension schemes and other institutions managing over 1.6 trillion pounds of funds, to see if there are conflicts of interest, it said on Thursday.
BRUSSELS (Reuters) - The European Union's plans to tighten up its oversight of financial firms have come under attack from industry and consumer groups that fear the move could hit businesses without doing enough to prevent misselling of risky funds.
LONDON (Reuters) - Pay growth across British companies remains subdued and investment intentions among British services firms weakened further in the last quarter, a Bank of England survey of businesses showed on Wednesday.
((This version of the September 20 story corrects paragraph 6 on likelihood of flat Q3 retail sales, after ONS corrects estimate given to media))