Protect What Matters Most with the Right Insurance

The Office of National Statistics (ONS) estimate that only 30% of people in the UK have Life Insurance, 14% have Income Protection cover, and 7% have Critical Illness cover to protect themselves and their loved ones.

Insurance provides peace of mind, ensuring you and your family are financially secure if life takes an unexpected turn. From protecting your income to safeguarding your loved ones, here’s a simple breakdown of the essential types of insurance available.

Life Insurance: Protecting Your Loved Ones

Life insurance provides a cash payout to your family or loved ones if you pass away. This money can help pay off your mortgage, clear debts, or provide a financial cushion for your family during a difficult time.

Why Consider Life Insurance?
  • If you have a mortgage.
  • Ideal for anyone with dependents, such as a spouse or children.
  • Recommended to take out a policy early when premiums are more affordable.
  • Provides peace of mind knowing your family will be financially secure if the worst happens.
Critical Illness Cover: Financial Support During Serious Illness

Critical illness cover provides a lump sum or regular payments if you’re diagnosed with a serious medical condition, such as cancer, a heart attack, or a stroke. It can also cover disabilities caused by illness or injury, depending on the policy terms. 

Why Choose Critical Illness Cover?
  • Ensures you have financial support if you’re unable to work due to a Qualifying Critical Illness.
  • Can be used to pay off/towards your mortgage and general living costs, cover medical expenses, or hire a carer.
  • Ideal for families.

Having this cover means you can focus on recovery without worrying about financial pressures.

Income Protection: Keeping You Afloat When You Can’t Work

Income protection insurance pays a percentage of your salary if you’re unable to work due to accident, illness, or disability. Unlike critical illness cover, it provides ongoing payments rather than a one-off lump sum, ensuring consistent financial support.

Why Consider Income Protection?
  • Covers most illnesses or injuries that prevent you from working (but not unemployment).
  • Helps pay for living expenses like rent, bills, or daily essentials.
  • Perfect for those who don’t have enough savings or guaranteed sick pay to rely on.

If you’re self-employed or your employer’s benefits aren’t sufficient, income protection can give you financial stability during tough times.

Find the Right Insurance for Your Needs

At The Mortgage Store Cheltenham and Gloucestershire, we’re here to help you choose the best insurance to protect you and your family. Whether you’re interested in life insurance, critical illness cover, or income protection, we’ll guide you through the options to find the right fit for your circumstances.

Contact us today for expert advice and a no-obligation quote.

*Source ONS data and Cover Magazine

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