Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.

Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the person becomes ill from a specified illness.

An Income Protection policy helps support you with a monthly payment if you’re ill or injured and can’t work. It pays a proportion of your lost earnings, which could help cover your monthly outgoings.