PERSONAL PLAN CHOICES

Your income is one of your most important financial assets. If an illness or injury prevents you from working, income protection insurance may provide you with a regular monthly benefit to help replace part of your lost income.

Depending on the policy, the benefit can help you continue meeting essential financial commitments such as mortgage or rent payments, household bills and other living expenses while you are unable to work.

Income protection is generally designed to cover incapacity due to illness or injury, rather than requiring you to be diagnosed with a specific condition from a defined list. However, the exact circumstances in which a claim can be made depend on the policy's definition of incapacity and its terms and conditions.

When arranging income protection, you can choose the level of cover and a deferred period — the period you would normally need to be unable to work before you can start receiving the benefit, subject to the policy terms.

The maximum monthly benefit available will depend on factors such as your income, the insurer's limits and your individual circumstances. Some policies may provide a proportion of your pre-claim income, subject to the insurer's rules.

The benefit may continue for a specified period or, depending on the policy, until you are able to return to work or reach the policy's maximum payment period.

Being unable to work for an extended period could place pressure on your savings, particularly if you continue to have regular financial commitments.

Income protection may provide an additional source of income during a period of incapacity, helping you avoid relying entirely on your savings to meet your essential expenses.

Depending on the policy, you may be able to make more than one claim during the lifetime of your cover, subject to the insurer's terms and conditions.

The premium and whether it can change over time will depend on the type of policy and the terms agreed when the cover is arranged.

Income protection policies can differ significantly in their definitions, benefit levels, deferred periods, payment periods, exclusions and other terms.

We can explain the available options and help you understand which type and level of income protection may be appropriate for your circumstances and financial objectives.

Get in touch to arrange a consultation.

If your child were diagnosed with a serious illness covered by the policy, would having additional financial support help you focus on your child's needs without worrying as much about the financial impact?

Depending on the policy, children's serious or critical illness cover can provide a lump-sum payment if your child is diagnosed with a condition that meets the insurer's definition and the claim satisfies the policy terms and conditions.

The payment could provide additional financial flexibility at a difficult time. You may choose to use it towards additional care, travel, household expenses or other costs associated with supporting your child. It could also provide greater flexibility if you need to take time away from work to care for your child.

The amount of cover available and the conditions included will depend on the insurance provider and the specific policy selected.

Some children's policies cover a range of serious or critical illnesses, with the exact number of conditions, definitions, exclusions and benefit amounts varying between providers.

Depending on the policy, cover may be available for your children through one or both parents, subject to the insurer's eligibility criteria and maximum limits.

A claim will only be paid where the child's condition meets the specific definition in the policy and all relevant terms and conditions are satisfied.

We can explain the children's protection options available to you and help you understand the level of cover that may be appropriate for your family.

Get in touch to find out more.

Life insurance can be used to help protect your mortgage in the event of the premature death of one of the people responsible for the mortgage.

The amount of cover can be arranged to reflect your outstanding mortgage balance and the remaining mortgage term. A decreasing term life insurance policy is commonly used for this purpose because the amount of cover reduces over time broadly in line with a repayment mortgage balance.

If a valid claim is made following the death of an insured person during the policy term, the policy may provide a lump-sum payment that could be used towards repaying some or all of the outstanding mortgage, depending on the amount of cover and the policy terms.

Depending on your circumstances and the policy available, you may also be able to include critical illness cover alongside your life insurance.

If you are diagnosed with a critical illness covered by the policy and the claim meets the insurer's specific definitions and requirements, a lump-sum payment may be made.

This payment could potentially be used to help repay some or all of your outstanding mortgage, depending on the amount of cover selected and the remaining mortgage balance.

Conditions commonly covered by some policies may include certain types of cancer, heart attack and stroke, but the exact conditions and definitions vary between insurers and policies.

Critical illness cover is subject to the policy definitions, exclusions, terms and conditions. A claim will only be paid where the relevant criteria are met.

We can help you understand the available mortgage protection options and consider the level and type of cover that may be appropriate for your circumstances.

Not everyone is able to obtain traditional life, critical illness or income protection on the terms they would ideally like. Medical history can affect the availability and cost of some types of insurance.

For clients who may not have access to certain types of medically underwritten protection, accident and hospitalisation insurance may provide an alternative form of financial support.

For example, MetLife's accident and hospitalisation protection is designed to provide benefits for a range of specified events and does not require medical questions when you apply. Eligibility and cover remain subject to the policy's terms and conditions.

Depending on the level of cover selected, the policy can provide benefits including:

• Broken bones – a benefit may be payable following certain specified accidental fractures.
• Accidental permanent injuries – cover for a range of specified life-changing injuries.
• Total permanent disablement – a benefit may be payable where the policy definition of total permanent disablement is met.
• Hospitalisation – a benefit can be payable for eligible hospital stays. Under the current MetLife product, hospitalisation following an accident is covered from the policy start date, while sickness-related hospitalisation is covered after the policy has been held for 12 months.
• Accidental death – a lump-sum benefit may be payable following accidental death.
• Non-accidental death – the policy can also provide a benefit following death from natural causes, with the amount depending on how long the policy has been in force.
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One of the features of this type of protection is that the policy can provide a benefit for non-accidental death, although the amount payable depends on the length of time the policy has been in force.

For example, under the current MetLife EverydayProtect policy, the non-accidental death benefit increases according to the policy year, subject to the policy terms and the amount of cover selected.

Accident and hospitalisation protection is not a replacement for comprehensive life, critical illness or income protection where those types of cover are available and suitable.

However, if traditional protection is unavailable or does not meet your circumstances, this type of policy may provide an additional layer of financial support for you and your family.

We can explain the cover available, the benefits, limitations and costs, and help you understand whether this type of protection is appropriate for your circumstances.

All benefits are subject to the insurer's policy definitions, exclusions, eligibility criteria and terms and conditions.                                                                                                                                                                                                               

Private Medical Insurance (PMI) can help cover the cost of eligible private medical investigations and treatment, subject to the terms, conditions and exclusions of the policy.

Private medical insurance generally focuses on acute conditions that arise after the policy starts. An acute condition is generally an illness, disease or injury that is expected to respond to treatment and result in recovery or a return towards the level of health you had before the condition occurred.

When you become unwell, having access to appropriate diagnosis and treatment can be important.

Depending on the policy you choose, private medical insurance may provide access to:

• private consultations and medical investigations;
• eligible private treatment and surgery;
• private hospitals or private facilities within NHS hospitals;
• a choice of hospitals and specialists, subject to the policy;
• private accommodation, where included in the policy; and
• additional services or benefits offered by the insurer.

One potential benefit of private medical insurance is that it may provide access to eligible treatment without relying solely on NHS services, subject to the availability of appropriate treatment and the terms of your policy.

Cancer cover varies between insurers and policies. Depending on the policy selected, certain cancer investigations and treatments may be covered, subject to the policy terms and the insurer's approval.

Some policies may provide access to certain newer treatments or medicines where they meet the insurer's eligibility criteria and are approved under the policy.

Private Medical Insurance does not cover every medical condition or treatment. Pre-existing conditions, chronic conditions and certain other circumstances may be excluded or subject to specific terms.

We can help you understand the different levels of private medical insurance available and explain the key features, exclusions, excesses and costs before you decide whether this type of cover is appropriate for you.

The exact benefits and level of cover will depend on the insurer and policy selected.

Your home and the belongings inside it can represent a significant financial investment. Home insurance can provide financial protection against certain unexpected events, subject to the policy terms, conditions, exclusions and limits.

Depending on your circumstances, you may be able to choose from a range of covers, including:

• Buildings Insurance
• Contents Insurance
• Home Emergency Cover
• Accidental Damage Cover
• Family Legal Protection
• Personal Possessions Cover

The level and availability of each type of cover will depend on the insurer and policy selected.

Buildings Insurance is designed to cover the physical structure of your home, which may include the walls, roof, floors and permanent fixtures and fittings, as well as certain outbuildings.

Depending on the policy, cover may apply to loss or damage caused by events such as fire, storm, flood, escape of water, theft, malicious damage and vandalism, subject to the policy terms and exclusions.

The amount of buildings cover should generally reflect the estimated cost of rebuilding the property rather than its market value.

Contents Insurance is designed to protect your household belongings against certain types of loss or damage.

Depending on the policy, this can include items such as furniture, electrical equipment, clothing and other personal belongings.

Cover can vary significantly between insurers, including the maximum amount payable, individual item limits and the events covered.

Home Emergency Cover can provide assistance when certain unexpected problems occur in your home, such as an emergency involving your plumbing, heating, electricity or security, depending on the policy.

Where included, you may have access to an emergency assistance helpline and an approved tradesperson to help deal with an eligible emergency and prevent further damage.

The situations covered, call-out limits, excesses and maximum costs vary between policies.

Accidental Damage Cover can provide additional protection for your buildings, contents or both against certain accidental damage that may not be covered under standard buildings or contents insurance.

Examples may include certain accidental breakages, spillages or other unintended damage, subject to the policy terms and exclusions.

Family Legal Protection can provide access to legal assistance for certain disputes and legal matters covered by the policy.

Depending on the policy, this may include areas such as employment disputes, personal injury claims, property disputes or problems involving tradespeople.

The circumstances covered and level of legal assistance available will depend on the policy.

Standard Contents Insurance may provide cover for your belongings while they are inside your home, but cover for items taken outside the home may be limited or excluded.

Personal Possessions Cover can provide additional protection for certain belongings when you take them away from your home.

Depending on the policy, this may include items such as mobile phones, cameras, bicycles, watches and jewellery.

Individual item limits, exclusions and the circumstances in which the items are covered will vary between insurers.

Every household has different needs. You may not need every type of additional cover, while certain protections could be particularly important depending on your circumstances.

Get in touch to discuss your needs and find out which types of home insurance cover may be suitable for you.

We can help you understand the available options, key features, exclusions and costs before you decide which cover to take.