CIC Financial Solutions
Simplifying your financial world
Home
Site Map
Investment
Mortgages
Pension
Protection
Protection Details
Protection Sites
Retirement
Savings
Financial Sites
CHEAPEST PREMIUM OR BEST FOR YOU?
 
Some providers sell protection products on- line or direct, the usual advertised attraction is a lower premium, however this may not actually be the case. When premiums are compared from the whole of market choice  available via an Independent Financial Adviser any difference is usually minimal. 
 
However differences in policy features can be significant. If you are purchasing a policy which is designed to last for 10 to 25 years, the product should be chosen not just on price but whether all the options available match your needs. Direct or on-line policies generally have limited feature choices.
 
OUR FOUR CHECKLISTS BELOW INDICATE HOW A POLICY CAN BE DESIGNED SPECIFICALLY FOR YOU.
 
LIFE COVER POLICY OPTIONS Y/N
Renewable Option - Do you want the flexinility to extend your initial chosen policy term regardless of health?  
Convertable Option - Might you want to be able convert to a different type of policy regardless of health?  
Indexed Option - Is it important for your cover to increase annually regardless of any change in health? 
Waiver of PremiumIs - Would you like your premiums to be paid if you are off work though accident or illness? 
Guaranteed Premium rates - Do you want the insurance company to be able to change your premium rates?  
Single capital sum or instalments - Would you like the choice of the cover to be paid in regular instalments?  
Can the policy be put in trust - Would you like the policy proceeds to avoid probate and Inheritance Tax?   
 
 CRITICAL ILLNESS POLICY OPTIONY/N
Renewable Option - Do you want the flexinility to extend your initial chosen policy term regardless of health?  
Indexed Option - Is it important for your cover to increase annually regardless of any change in health? 
Waiver of PremiumIs - Would you like your premiums to be paid if you are off work though accident or illness?  
Guaranteed Premium rates - Do you want the insurance company to be able to change your premium rates?   
Own occupation disability - Do you want the policy payment to be based on the ability to do your own job?    
Choice of range of cover - Do you want the policy clauses to provide comprehensive cover? 
 
 INCOME PROTECTION POLICYY/N
Deferred period - Is it important to choose the length of time off work before your income benefits are paid? 
Payment period - Would you like to decide the age to which your income benefit payments continue? 
Own occupation disability - Do you want the policy payment to be based on the ability to do your own job?   
Guaranteed Premium rates - Do you want the insurance company to be able to change your premium rates?  
Indexed Option - Is it important for your cover to increase annually regardless of any change in health? 
Waiver of PremiumIs - Would you like your premiums to be paid if you are off work though accident or illness? 
 
 MORTGAGE PROTECTION POLICYY/N
Guaranteed Premium rates - Do you want the insurance company to be able to change your premium rates?   
Waiver of PremiumIs - Would you like your premiums to be paid if you are off work though accident or illness? 
Can the policy be put in trust - Would you like the policy proceeds to avoid probate and Inheritance Tax?  
 
 For further protection policy information, go to our protection sites page.