Personal Protection

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What Is Personal Protection Insurance?

Personal protection insurance helps individuals and families cope financially when certain unexpected events occur. When a person passes away, that can sometimes have a significant impact on a family, however when a person dies without being insured with life insurance, sometimes that can compound the situation even more. The updated cancer statistics have now risen to 50%, meaning 1 out of 2 people will get cancer during their lifetime. Statistically speaking in a family of 4, that could mean a spouse and a child, both parents, or even both children. These things are not in our control, however personal protection cover, such as life insurance, can help us take some of that control back financially. There are personal protection insurance policies that will payout in the event of death, a terminal illness, critical illness, and also in the event of being signed off work medically.

How Weystone Can Help

Everyone’s circumstances are unique and people have different concerns to others. We tailor our advice to our client’s specific needs and requirements to make sure they understand where their liabilities are, should the worst happen. We help you to understand which life insurance policies are most suited to you and your budget. Sometimes a person’s occupation, health, height and weight, as well as lifestyle can impact certain insurers premiums. Our advisers specialise in personal protection insurance on a daily basis to keep up with the constant updates of the life insurance providers, and to make sure our personal protection advice is the most suitable.

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Lenders and Providers

Insurance

PERSONAL PROTECTIONFrequently Asked Questions

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01
What are the Different Types of Personal Protection Insurance Available?

There are many different types of personal protection insurance you can choose from. We have collated a list of common personal protection insurance below:

  • Critical illness cover and protection
  • Life protection
  • Accident protection
  • Income protection
02
What is critical illness cover and protection?

Critical illness cover and protection is an insurance policy that will help protect you if you were to be diagnosed with a critical medical condition during the term of the policy. This type of personal protection insurance pays out a tax-free lump sum which you can use during your difficult time. This could be used to cover health-related costs as well as monthly expenses whilst you are recovering.

03
What is life protection?

Also known as life insurance and life cover, this is a personal protection insurance policy that pays out a lump sum in the event of the insured person dying. There are different policies available such as term life policies (which pays out before a certain age) and the whole of life policies (which pays out whatever your age).

04
What is accident protection?

Accident protection is a type of personal protection insurance policy that pays out should the injured person experience an unexpected injury or hospital stay. This type of policy helps to meet your current financial commitments as well as help with additional expenses that may occur.

05
What is income protection?

If you lose your job or have an accident which means you can no longer work, income protection insurance policy helps by paying out an agreed portion of your salary each month. This can help to pay your living expenses, bills and other costs that may be relevant.

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