PAYMENT & INCOME PROTECTION

PAYMENT PROTECTION:

Could you still support your family and keep your home if you lost your income through ill health, an accident or unemployment?

At Life Division we believe that protecting your family and home is one of the most important financial decisions you will make.

When taking out a mortgage you should consider protection for your mortgage payments.

Life Division can offer you comprehensive and competitive insurance so that you can be sure you are always adequately covered.

Its very important to take the precaution of protecting yourself and your family against the risk of losing your home and if you are unable to work due to accident, sickness or unemployment.

If you were to lose even part of your income a previously affordable mortgage could become a heavy burden. State benefits are not as generous as they used to be and far fewer people are now eligible. If you need to claim you could be in for a shock.

Payment Protection Insurance provides monthly benefits in the event that you have time off work through sickness, unemployment or following an accident. You can take cover to protect you in each of these events or you can select individual elements to protect, which provides for a cheaper cost of insurance.

Payment Protection Insurance can be selected to protect you from the day of the loss of income occurring or else you can select a 30 or 60 day excess period, (period off work before you can claim), which can reduce the cost of the cover and can fit in with any benefits your employer may provide.

Life Division will discuss the options and provide a quotation to match your requirements.

INCOME PROTECTION:

If you found yourself out of work due to a long term illness how would you cope financially?

In this situation, Income Protection cover can help you replace lost income by paying out regular income benefit, replacing lost earnings or paying a regular pensions contribution.

When taking out a mortgage you should review your Income Protection Insurance arrangements.

Life Division can offer you comprehensive and competitive insurance so that you can be sure you are always adequately covered.

If you are unfortunate enough to find yourself out of work due to long term illness Income Protection cover can help you replace the lost income by paying out a regular income benefit to help replace lost earnings and/or pay a regular pension contribution protection benefit.

Whether you are self employed or employed, Income Protection insurance can provide support and help you maintain your standard of living for as long as it takes to recover and return to work.

When you’re setting up your plan, you simply have to work out how much you would need to cover your living expenses. You need to decide when you want the income benefits payments to start. There will be a period when you’re first unable to work for which the insurers don’t pay benefit. This is called the ‘deferred period’. You choose between 4, 13, 26 and 52 weeks. The longer the deferred period the cheaper your plan will be.

You can choose to receive income or continue your pension contributions, or a combination of both. Its entirely up to you. Your cover will be based on what you were earning in the 52 weeks before your became ill and were unable to work.

Life Division will discuss the options and provide a quotation to match your requirements.

We search from a range of major life companies to give you the best deal. Life Division will discuss the options and provide a quotation to match your requirements

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