How much cover do I need and for what purpose?

How would you support yourself without regular income from working? At the very least, you would still have to deal with all the regular bills such as paying the rent or mortgage, food electricity and transport.

For most people the cost of their family home is the biggest financial commitment they make during their lifetime. You may wish to insure an amount equivalent to the value of your home, and also take into account the extra cost of possible home improvements designed to make life more comfortable. Alternatively, you may need to move home, for instance from a townhouse to a single storey apartment and you may wish to make provisions for this.

If you were suffering from a serious illness, ideally you would wish to take advantage of the best medical facilities available without worrying about the cost; therefore an amount to cover the cost of private medical care could also be considered. You may also want to take into account the costs associated with getting better such as spending a short time in a nursing home or employing live-in nursing staff.

Please bear in mind that a complete recovery may take some time and potentially, you may not wish to ever return to full-time work. Many people build in a little extra cover to take into account irregular bills, such as an annual maintenance charge on your property, to make sure that they are under no pressure to return to work if they do not feel do not feel up to it. For some people a change in career to a less stressful job maybe required and an allowance for a downward adjustment in earnings may need to be considered.

For more details of the plans available and their suitability to your individual needs please request further information

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