There are many different kinds of protection out there in the market place, which can get quite confusing. At Hastings Financial Solutions, we take protection very seriously, and offer protection from a range of Market Leading Insurers.
You need to be sure that, if anything does go wrong, your home, family and business are secure. We are anxious to ensure that our clients are appropriately protected against such unexpected consequences. We will not attempt to sell you insurance that you don't need, but we will try to ensure that you have a level of protection that you are comfortable with.
The fact is that the population of the U.K. is, overall, woefully under protected - we will do our best to make sure that this doesn't apply to you, our clients.
The Following types of protection are available through Hastings Financial Solutions and please contact us further details:
Level Term Life Assurance
Sometimes referred to as Term Assurance or simply Life Insurance. You can take this type of life assurance on your own, or with somebody else as a joint plan. You choose the amount of cover you need and the length of the plan. The level of cover remains the same throughout the plan term and usually so do the premiums you pay. The plan has no cash-in value at any time.
Decreasing Term Life Assurance
Decreasing Term Life Assurance is sometimes known as Mortgage Life Insurance or Mortgage Protection. You can take this type of Life Assurance on your own, or with your partner as a joint plan. Decreasing Term Assurance is designed specifically to protect a repayment (capital and interest) mortgage. The cash lump sum payable is designed to help pay off the outstanding balance of your mortgage. You choose the amount of cover you need and the length of the plan. The premiums you pay usually remain the same throughout the plan term; however the cash lump sum payable decreases to reflect your decreasing mortgage loan. The plan has no cash-in value at any time.
Critical Illness Cover
A cover that can usually be included in a Life Assurance Plan. This is an insurance plan that pays out a guaranteed cash sum if you're diagnosed as suffering from a specified critical illness, within the term of the plan. The plan has no cash-in value at any time. Should you be unfortunate enough to suffer a critical illness, the last thing you'll want to be worrying about is money. Advances in medical science mean that the chances of surviving a critical illness are improving all the time. The cash sum you'd receive from a critical illness plan could help you through the recovery period. You may have to reduce your working hours, need to pay for medical care or have to adapt your house to make your day-to-day life easier. A critical illness plan could help all of this and more.
The chances of finding yourself out of work due to long-term illness are unfortunately all too high. In this situation, income protection cover can help you replace the lost income by paying out a regular income benefit to help replace lost earnings and/or it can pay a regular pension contribution protection benefit. Whether you're employed or self-employed, income protection cover can provide support and help you maintain your standard of living for as long as it takes to get fit enough to go back to work.