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Life Insurance

 is a financial contract that provides a death benefit to your beneficiaries upon your death. This benefit can be used to cover funeral expenses, debts, or provide financial support for your loved ones.
 

Provides coverage for a specific period.

If you die within the term, your beneficiaries receive the death benefit.

If you outlive the term, you receive nothing.

Can pay a mortgage off, leave a lump sum or provide a wage for your family if you died.

Critical Illness Cover 

is a type of insurance that provides a lump sum payment if you are diagnosed with a specific serious illness or disability. This payout can be used to cover medical expenses, lost income, or other financial burdens that may arise during a critical illness.

Common conditions covered by critical illness insurance often include:

• Heart attack
• Stroke
• Cancer
• Multiple sclerosis
• Parkinson's disease
• Loss of limbs
• Kidney failure
• Major organ transplant

Children's Critical Illness Cover

 is a type of insurance specifically designed to protect children from the financial impact of a critical illness. If a child is diagnosed with a covered condition, the policy provides a lump sum payment.

This payment can be used to:

Cover medical expenses: Hospitalization, treatments, medications, and surgeries.

Replace lost income: If a parent needs to take time off work to care for the child.

Provide financial support: For other expenses related to the child's illness, such as travel, accommodation, or modifications to the home.

Income Protection 

is a type of insurance that provides a regular income if you are unable to work due to illness or injury. This benefit can continue for a specified period, often up to a certain age or for the duration of your disability. 

Please note- Income Protection can be available for the self employed with no proof of income needed.

How it works:

Regular payments: You receive a portion of your income as a regular payment.

Waiting period: There's typically a waiting period before payments start.

Benefit period: The length of time the payments continue depends on the policy terms.

Mortgage Protection 

 is a type of life insurance or Life with Earlier Critical Illness policy  specifically designed to pay off your mortgage debt if you die or have a critical illness. This ensures that your loved ones won't be burdened with the financial stress of a mortgage payment after your passing or get cancer for example.

How it works:

Coverage amount: The policy is typically set up to cover the outstanding balance of your mortgage.

Death benefit: Upon your death, the insurance company pays out the death benefit, which is used to repay the mortgage.

Critical illness Benefit:  Pays the mortgage in full if you had a critical illness and survived

Over 50s Life Insurance

 is a type of life insurance specifically designed for individuals aged 50 and over. It offers a simplified application process and guaranteed acceptance, making it accessible to many people who may have difficulty qualifying for traditional life insurance policies.

Key features of Over 50s Life Insurance:

Guaranteed acceptance: No medical exam or health questions are typically required.

Simplified application: The application process is usually straightforward and can be completed online or over the phone.

Fixed premiums: The premium remains the same throughout the policy term.

No cash value: This type of insurance does not build cash value.

Whole Life Insurance 

is a type of life insurance that provides coverage for your entire life. This means that your beneficiaries will receive the death benefit regardless of when you die. Unlike term life insurance, which has a set expiration date, whole life insurance is permanent. 

Key features of whole life insurance:

Lifetime coverage: Provides protection for your entire life.

Premiums: Premiums are generally higher than term life insurance.

Benefits of whole life insurance:

Lifetime protection: Ensures your loved ones are financially protected regardless of when you die.

Private Medical Insurance (PMI)

 is a type of insurance that provides access to private healthcare services. This means you can receive medical treatment from private doctors, hospitals, and clinics, often with shorter waiting times than the public healthcare system.

Key features of PMI:

Access to private healthcare: Provides the option to choose private providers.

Shorter waiting times: Can reduce the time it takes to receive treatment.

Choice of provider: You can often select your own doctor and hospital.

Faster treatment: May offer quicker access to diagnostic tests and procedures.

Benefits of PMI:

Convenience: Offers flexibility and choice in healthcare.

Faster treatment: Can reduce waiting times for appointments and procedures.

Choice of provider: Allows you to select a healthcare provider who meets your specific needs.

Privacy: Provides a more private healthcare experience.

SLC Protection Ltd are not authorised to provide advice on Private Medical Insurance, this will be referred to a third party.

Accident, Sickness and Unemployment Insurance (ASU)

 is a type of insurance that provides financial protection in case you are unable to work due to an accident, illness, or unemployment. It typically offers a regular income to replace some or all of your lost earnings.

Key features of ASU:

Accident coverage: Provides benefits if you are injured in an accident.

Sickness coverage: Offers benefits if you are unable to work due to illness or disease.

Unemployment coverage: Provides benefits if you lose your job and are unable to find new employment.

Waiting period: There may be a waiting period before benefits start.Benefit period: The length of time benefits are paid can vary.

• Benefit amount: The amount of money you receive will depend on your policy and the nature of your claim.

Home and Landlord Insurance

 are types of insurance that provide financial protection for property owners and landlords.

Home Insurance:

Covers damage to your home: Protects against damage caused by fire, flood, storms, vandalism, and other perils.

Covers your belongings: Protects your personal possessions within the home.

Provides liability coverage: Protects you from legal claims if someone is injured on your property.

Landlord Insurance:

Covers damage to the property: Protects the building and its contents.

Provides liability coverage: Protects you from legal claims if a tenant is injured or if property damage occurs due to a tenant's actions.

Covers loss of rent: Provides compensation if a tenant is unable to pay rent due to damage to the property.

A trust is a legal arrangement where a person (the settlor) transfers assets to a trustee to hold and manage for the benefit of beneficiaries.

Here's how it works:

Settlor: The person who creates the trust.

Trustee: The person or entity responsible for managing the trust assets and carrying out the settlor's wishes.

Beneficiaries: The people who benefit from the trust.

A will is a legal document that expresses a person's wishes regarding the distribution of their property after their death.

 It also specifies who will be responsible for carrying out these wishes, known as the executor. 

Your children need to be specified in your will as if under the age of dependency they will go into the care system until someone is identified as adequate by the local authorities and police.

Key components of a will:

Executor: The person appointed to carry out the terms of the will.

Beneficiaries: The people who will inherit the testator's property.

Bequests: The specific gifts or property left to beneficiaries.

Residuary clause: Specifies how any remaining assets will be distributed.

Guardian for minors: If you have minor children, you can appoint a guardian to care for them.

Why is a will important?

Ensures your wishes are carried out: A will helps guarantee that your property is distributed according to your desires.

Avoids intestacy: If you die without a will, your property may be distributed according to the laws of intestacy, which may not align with your wishes.

Provides peace of mind: Knowing you have a will in place can offer peace of mind to you and your loved ones.

Wills & Trusts are not regulated by the Financial Conduct Authority.