The term protection insurance covers a wide range of insurance products that are designed o safeguard you and your family in the event of a misfortune of a kind that will cause you financial worry. For example; death, accident, sickness, home mortgage etc.
This article will explain briefly about some of the popular protection insurance products in the UK.
- The first and mot well known insurance product is life insurance. This need very little explanation. It is well known that this product basically safeguards your family’s financial needs when an earning member of the family dies. The amount that the policy covers is paid to the nomine usually a family member after the death of the policy holder. This can be short term and long term that stays till the policy holder is alive and the former is valid for a fixed period of time.
- Critical illness cover is sometimes clubbed with life insurance or can be bought separately too. in this type of policy a certain amount of money is give out o the policy holder if he or she is diagnosed with a serious illness like cancer or heart attack etc. The list of diseases covered under the policy will differ from company to company and you can check out the same online too.
- Mortgage payment protection insurance or MPPI is a product that covers you for paying your monthly mortgage bills in the event that you have been laid off or are not able to work due to an illness or perhaps an accident. These only payments form the insurance company is for a limited period that is usually a maximum of 12 months. You can also check out the Redundancy Protection Quote from Top Quote Online.
- A not very commonly known protection insurance is known as PPI or payment protection insurance. This was also designed by insurance companies to help you in times when you are out of a job for several reasons.
- Protection insurance form your employer can also be bought at a cheaper cost than income protection insurance. Often if you have a preexisting condition you are not eligible for a regular insurance protection but with the employer’s protection you may not worry about all those things.
- Private medical insurance or more commonly known as health insurance allows you to take treatments form private hospitals. A standard health policy will include all the diseases that are critical and some that are not very critical too. you can always find this out online too. Some treatments like cosmetic surgery, drug addiction or pregnancy etc. are not covered by any health insurance company.
- The last but not the least the Income protection insurance. Now this is no substitute for a regular income but you should have this product in the case of redundancy which usually takes you by surprise. In order to buy the best and the cheapest you can check out the Income Protection Quote from Top Quote Online
