The main purpose of financial protection is to ensure that money would not be an issue if a misfortune such as an accident, death of illness should befall your family.
Essentially, all protection policies are designed to replace lost income and provide a cash benefit when it is needed most.
If you would like to discuss your life or income protection options in more detail, please contact Capital Options.
Level Term Assurance
Level Term Assurance provides one single cash payment to your family if you die during the term of the policy. This lump sum would generally be used to cover funeral expenses, an outstanding mortgage and other debt. Alternatively it could be invested to provide a regular income.
Mortgage Protection Assurance
A Mortgage Protection policy is a somewhat cheaper option than Term Assurance as it is targeted at covering only the outstanding mortgage.