Peace of mind – keeps b Flexibility – to suit your Long-term security – s Protection for self-em KEY BENEFITS COVER...CO COVER...CO BENEFITS AND HOW IT WORKS LIFE COVER EXPLOR EXPLOR WHAT IS IT? Life cover (or life insurance) pays a tax-free lump sum if you die during the policy term — helping protect your loved ones financially. WHY IS IT IMPORTANT? Keeps your home: Helps pay off your mortgage. Covers costs: Replaces lost income for bills and childcare. Peace of mind: Your family won’t face financial hardship. HOW DOES IT WORK? Choose cover amount (a lump sum). Choose policy term (how long you want the cover to last) If you pass away during the term, your loved ones receive the payout. KEY BENEFITS Safeguards your family’s lifestyle. Clears debts like your mortgage. Often cheaper than a daily coffee. Flexible to fit your needs. paradigm.co.u James has a £150,000 mortgage. He takes out life cover for 25 years. If James dies within that time, the policy pays £150,000. enough to clear the mortgage and protect his family’s home. EXAMPLE INCOME PROTECTI WHAT IS IT? A policy that pays you a mont injury stops you working — It k recover, return to work, or the wages stop. WHY IS IT IMPORTANT? Bills don’t pause when Statutory Sick Pay is most. Covers a chunk of your lifestyle and focus on HOW DOES IT WORK? Choose how much of you 60–65%). Pick a waiting period (sh payments start (e.g. 4, 13, Claim if illness or injury st Receive monthly paymen Nina earns £2,000 per month. S months. Without cover: only Sta Income Protection: £1,200/mon Sarah can focus on getting well EXAMPLE COMMON MYTHS- BUSTED! “The State will cover me.” Statutory Sick Pay is very limited and shor “It is too exp Policies can “I don’t need it, I’ve got savings.” Most savings run out quickly — this protects you for the long term.
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