Protecting What Matters Most
Your home and your family are likely to be two of the most important things in your life. Protection planning helps ensure that if the unexpected happens, you and your loved ones have financial support in place.
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Why Protection Matters
When buying a home, most people focus on securing the mortgage itself. However, it’s just as important to consider how the mortgage and household expenses would be managed if your circumstances changed due to illness, injury or loss of income.
Protection policies are designed to provide financial support during difficult times, helping you maintain stability and protect your home.
Ways to protect what matters
Life Insurance
Can Provide a lump sum payment if you pass away during the policy term, which can help repay the mortgage or support your family financially.
Family Income Benefit
Instead of a lump sum, Family Income Benefit can provide a regular monthly payment to your family if you pass away during the policy term, helping replace lost income and support everyday living costs.
Critical Illness Cover
Can Provide a payment if you are diagnosed with certain serious illnesses covered by the policy.
Income Protection
Can provide a regular payments if you are unable to work due to illness or injury, helping cover living costs and mortgage payments.
Home Insurance
Home insurance helps protect your property and belongings. Buildings insurance is usually required by lenders when you have a mortgage, while contents insurance protects your possessions within the home.
❤️ Life Insurance
Life insurance can pay out a lump sum if you pass away during the policy term.
Why people choose it:
It can help protect your family financially by paying off debts like the mortgage or giving them money to cover living costs.
Things to think about:
Mortgage or debts that would need repaying
Childcare, bills, or education costs
Good to know:
Many people choose a policy that matches the length of their mortgage.
🩺 Critical Illness Cover (CIC)
Critical illness cover can pay a tax-free lump sum if you’re diagnosed with a serious illness listed in the policy (for example cancer, heart attack, or stroke).
Why people choose it:
It can help reduce financial stress while you focus on recovery.
Things to think about:
Covering mortgage payments
Taking time off work
Paying for treatment or making changes at home
Good to know:
Each insurer has its own list of illnesses and definitions.
💼 Income Protection (IP)
Income protection can pay out a regular monthly income if you cannot work due to illness or injury.
Why people choose it:
It can help replace part of your salary so you can keep up with everyday bills while you recover.
Things to think about:
How long you could manage without your income
When payments would start (called the deferred period)
How long you want the policy to pay out
Good to know:
Some policies can pay until you return to work or reach retirement.
👨👩👧 Family Income Benefit (FIB)
Family income benefit can pay a tax-free monthly income to your family if you pass away during the policy term.
Why people choose it:
Instead of a lump sum, it can provides a steady income to help your family manage ongoing expenses.
Things to think about:
Replacing your income for your partner or children
Covering childcare and household bills
Supporting your family until children are older
Good to know:
Because it pays monthly rather than as a lump sum, it can often be more affordable.