Life Cover
This type of policy can pay out on a lump sum or income basis and is payable in the event of death or if you become terminally ill. These policies can be used to replace an income or pay off a lump sum such as a mortgage. They can also be used to pay an inheritance tax bill.
Income Protection Plans
These plans specifically replace income if you are unable to work due to accident or illness. They are sometimes known as Permanent Health Insurance and can stay in place for your entire working life.
Critical Illness Plans
These plans will typically pay a lump sum benefit on diagnosis of a specified critical illness. They can be added on to a life cover policy or be set up on a stand alone basis.
