LIFE INSURANCE

Life insurance acts as a safety net to support your loved ones, such as your partner or children, in the event of your death. Its purpose is to provide financial security to your dependants during an otherwise difficult time for them. For instance, the insurance can be used to cover your mortgage or act as an income to cover costs in your household.

There are various types of life insurance that we can help arrange for you. For example, there are policies that are usually bought to cover the ‘term’ that your dependants need help, such as during a mortgage term or when your children are dependent on you. The best-suited type offered to you will depend on your own personal circumstances.

In most cases, life insurance will directly give a lump sum to your chosen beneficiaries to relieve any financial pressures in the aftermath of your passing. Alternatively, you may prefer a policy that provides smaller instalments to your dependants if you pass away.

CRITICAL ILLNESS INSURANCE

Critical illness insurance provides a tax-free lump sum if you are diagnosed with a severe or life-threatening (non-fatal) condition. This can include cancer, strokes, heart attacks, and various others. The health conditions covered will differ depending on the insurer.

You can choose to either purchase critical illness insurance on its own or you might prefer to add it as a feature to your life insurance policy.

Whilst the policies don’t replace your normal income as they are only paid out once, the money is useful to cover costs such as your mortgage, medical treatment, or other options.

People will often buy critical illness insurance when taking on significant responsibilities, including starting a family or buying a mortgage, However, it is most relevant and useful if you were to suffer a serious illness or permanent disability and want to relieve your financial commitments.

If you currently have critical illness insurance and wish to switch to a new policy, it’s important to consider this decision carefully. If you have developed any health conditions since you initially started your policy, replacing it may lead to losing some benefits. This is because the new policy may not cover pre-existing medical conditions.

Additionally, recent advancements in treating serious conditions like cancer can affect your coverage as a new policy might have more restrictions on paying claims for certain illnesses compared to your existing one.

ACCIDENT INSURANCE

Although you can reduce the chances of getting involved in an accident, it is not possible to remove this risk completely. How would you and your family manage if you were left unable to work from an accident? Even more concerning, how would your loved ones manage financially if it resulted in a permanent injury or disability?

At Jeniss, we can arrange for you to receive accident insurance, specifically designed to provide financial protection to you by giving a lump sum if in the future you were to suffer from a specific accidental injury. Some accident insurance plans also cover stays at the hospital.

INCOME PROTECTION

Income Protection Insurance provides a regular income should you become unable to work due to an accident or illness. It makes sure that you continue receiving a percentage of your salary for a specified period of time, usually monthly.

This insurance can help cover rent or mortgage payments, essential bills and other living expenses until you can return to work (depending on the type of policy you choose).

Before payments start, policies usually include a waiting period, starting from the time when you became unable to work. If you choose a longer waiting period, this can reduce your premiums. To choose the right waiting period that is best for you, it’s important to check what support your employer would offer and what state benefits you may be eligible for. The premium you pay will be affected by factors such as your age, health, and the amount of income you wish to protect.

MEDICAL INSURANCE

With the NHS facing increasing pressure over the past couple of years, more people are turning to private medical insurance as a practical and affordable way to secure a peace of mind.

Private medical insurance covers the costs of private healthcare and can act as a complimentary measure alongside the NHS to offer you

• Cutting-edge treatments and medications not yet available on the NHS.
• Shorter waiting times.
• A more comfortable environment- access to en-suite rooms rather than wards.
• Flexibility to choose where and when you receive treatment.
• Access to digital GP from the comfort of your home.
• Access to faster cancer treatment
• Access to the best hospitals and consultants in the UK

Private medical insurance is an accessible and affordable way to put your own health first. Although the NHS is respected for its hard-working individuals, private medical insurance offers a faster alternative to a strained service. Our advisers at Jeniss can help you learn more about this coverage and how much it can benefit you, as well as finding the best policy to suit your personal budget.