INDICATORS

INSURANCE POLICY:

Life has risks. From your house burning down, to your car being stolen, to illness preventing you from earning a living.

Whatever the risk, chances are there is an insurance policy available to reduce the financial loss to

Insuring your health• Your health is precious. If you fall sick and can’t work you will

need money to pay the bills. Insurance can help you make ends meet if you are unable to earn your normal income.

• There are many types of health-related policies such as:• Medical insurance, which covers private hospital and other medical

bills.• Critical illness (also called trauma), which provides a lump sum if

you suffer from certain illnesses such as cancer or heart disease.• Income protection insurance pays a percentage of your income on

an on-going basis if you suffer from named illnesses.• Disability insurance, which pays out a lump sum for permanent

disablement through sickness or accident.• Mortgage protection insurance to cover your mortgage if you can’t

work.

Insuring your life:• Life insurance provides a lump sum of money if you die. In some cases a

portion or the entire ‘sum insured’ is paid out before you die if you are diagnosed with a terminal illness.

• There are different types of life cover. The most common one is term life insurance, which covers you for a fixed number of years such as the length of your mortgage.

• Whole of life insurance policies are more expensive, but (as their name suggests) cover you for the whole of your life until you die.