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Life insurance is a selfless insurance. It is there to protect your loved ones, should the worst happen. Life insurance pays usually pays a lump sum on death of the policyholder although it can be set up to pay your loveed ones a monthly or annual benefit.
CRITICAL ILLNESS COVER
These insurances cover you for critical illnesses such as cancer, heart attack, stroke and MS. Critical illness cover pays out a lump sum on diagnosis of a covered illness.
This is an extremely comprehensive insurance and will pay out if you are signed off work by a doctor. This is designed to replace lost salary and gives you confidence you will always be able to pay your bills.
ACCIDENT, SICKNESS & UNEMPLOYMENT COVER
This insurance will cover you for up to 2 years and very much does the same job as income protection, except you can also be paid out if you are made redundant or your business is wound up.
This is the only insurance which will be legally required when buying a freehold property. This protects your home from various methods of damage including land heave, subsidence and floods. Buildings insurance also comes with great extras such as legal cover and home emergency cover.
This covers the contents of your home. imagine you could pick up your house, take off the roof and tip the house upside down. Everything which would fall out, is covered. You can also cover your contents away from your home, such as mobile phones, jewellery and your debit cards.
KEY PERSONS INSURANCE
Key person's insurance covers those who are absolutely key to a business. In small businesses, this is usually the owners and one or two other employees who, without them, the business would likely fail. Key persons insurance can cover both life and critical illness.
RELEVANT LIFE INSURANCE
Relevant life insurance allows you as an insurer to offer a death-in-service benefit to you employees. Relevant life insurance set up by the employer pays out a lump sum on the death (or diagnosis of a terminal illness) of the person insured.
BUSINESS LOAN PROTECTION
Whether a business has a loan from a director or a debt secured against property or assets, all lenders rightly expect to be repaid. Business loan protection is either life assurance or life assurance with critical illness cover included. A policy is taken out on the life of a key individual or individuals so that any money due from a claim can be used to help pay towards any outstanding debt or loan.
Nobody knows your business better than you. that includes the up and down, the risks and the benefits. Business insurance is a broad terms which cover many areas from employee rated insurance, legal cover and your professional indemnity insurance. There are plenty of ways to make sure your business always has the right foot forward and here at London Financial Growth we are experts in ensuring that is what happens.