Protection for Life
Protect the things that matter – you, your family, your mortgage and your lifestyle
Although it’s important, many of us don’t have protection cover in place. Today we don’t think twice about insuring our house contents, pets or mobile phones, but we often don't think about protecting ourselves.
Protection for Life is a plan provided by Scottish Widows which aims to help you protect yourself against the unexpected. You can take out Life, Critical Illness and Income Protection cover within one plan. The plan is easy to set up and easy to pay for with only one monthly Direct Debit payment. What’s more you can apply to amend the type and level of cover as your needs change - for example when you buy a home or have children.
You can discuss your protection needs with an adviser who will help you create a plan to suit your individual needs and budget.
Do you need cover?
There's nothing more important in life than your loved ones. But if something happens to you, what happens to them?
Or, if you're single and have worked hard for the lifestyle you have, isn't it worth protecting financially? What if an accident or illness meant you could no longer work or you needed time to recover? How would you meet monthly commitments such as mortgage payments, food and utility bills?
It's not something any of us like to think about. In fact, many people choose not to think about the worst case scenario at all – up to 24 million* adults in Britain are thought to have no life or critical illness cover in place for such an event.
But can you afford to take the risk? Could you or your family expect the same standard of living without your income?
If you want to be prepared for the unexpected, that's where we can help. Our advisers are happy to chat through what you can do to put protection in place for you and your family.
*Source: Moneyfacts March 2010
Protection for Life offers a choice of the following:
Pays out a lump sum if you are diagnosed with a terminal illness or die during the term of the cover. This can help provide financial security for your family, or help them pay off a mortgage or other debts. There are different levels of cover available depending on your needs.
Critical Illness and Life Cover
Pays out a cash sum if you die or are diagnosed with a terminal illness or one of a range of specified critical illnesses during the term of the policy, whichever happens first. Children's Critical Illness cover is also included at no extra cost.
Critical Illness Cover
Pays out a lump sum if you are diagnosed with one of a range of specified critical illnesses during the term of the cover. Children's Critical Illness cover is also included at no extra cost.
Lasts your whole life rather than a specific term. So it pays a lump sum when you die, to help cover expenses on death.
Essential Earnings Cover
Helps maintain your lifestyle by providing you with a maximum 60 monthly benefit payments if you can’t work for a period of time due to an accident or long term illness during the term of the cover.
To arrange to see one of our advisers, call 0845 850 3701. Lines are open Monday to Friday 8am-6pm and Saturday 9am-1pm.