No one ever plans to get sick or die unexpectedly. We always think that it won't happen to us, but the reality is that it could happen at any time. It is not something you like to think about but is has to be considered if you are taking on a mortgage or increasing your mortgage.

Mortgage, Life & Critical illness insurances:

These all have one clear objective - to help pay off an outstanding mortgage in the event of death or diagnosis a critical illness during the policy term. This means that you and your loved ones could continue to live in the family home if the worst were to happen.

Income Protection:

This is designed to pay you a regular income in the event that you are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically normal retirement age). This type of plan is quite often seen as the foundation of any financial planning as without an income how do you pay for everything else - eg food and household bills etc

Of course, it could be that you never have to take advantage of any policy if you are lucky - but it could be argued that the sense of security that comes with these policies alone is worth the relatively modest monthly fee.

Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income