QuoteLifeCover

  All too often in life, many of us think that certain terrible events couldn’t possibly happen to us... right up until the moment they do. Consider, for instance, what the implications would be for you if you were suddenly diagnosed with a serious illness such as cancer, a heart attack or stroke. What would the impact be on your finances, and would you be able to deal with that? It is perhaps no great surprise, then, that there seems to have been an increasing conversation about critical illness cover - and similar protection products - in recent times. The idea behind critical illness insurance is pretty simple. Subject to the particular terms of the policy you buy, it means that in the event of you suffering from a serious illness or a permanent disability caused by injury, you can be paid a one-off tax-free lump sum. You would then be free to use that money whatever way you want. Given what critical illness cover is designed for, many policyholders - in practice - use th...

To say that the last few years have been very up-and-down ones in most of our lives would be quite the understatement. Whether it’s COVID-19, Brexit, or other sources of social or political tumult, we’ve all had a lot to think about in recent times. That, in turn, is perhaps underlining the urgently important role that financial protection products, such as critical illness cover and income protection insurance , can play. But how many of us have even heard of these products, or know how each of them works? The answer might be... surprisingly few of us, at least as far as recent research cited by the Financial Times newspaper’s FTAdviser website has discovered. Almost a fifth of you have never heard of income protection The study in question surveyed 2,000 UK adults in July 2021, exploring their knowledge and understanding of the various financial protection products on the market today. And it’s fair to say there were more than a few potentially concerning outcomes. Nearl...