Protection insurance: the basics

Protection insurance pays out if something serious happens — death, illness, or being unable to work. It's about covering the financial hole that event would leave, especially if other people rely on your income.

Life insurance

Pays a lump sum (or income) to your dependants if you die during the policy term. Most relevant if someone — a partner, children — would struggle financially without your income, or to cover a mortgage.

Income protection

Pays a regular income if illness or injury stops you working, usually until you recover or retire. Worth understanding if you'd run out of savings after a few months off work and don't have generous sick pay.

Critical-illness cover

Pays a lump sum if you're diagnosed with one of a defined list of serious conditions. Often bought alongside life or mortgage cover.

Important

Life, income protection and critical-illness cover are regulated products. Blooom provides general information only and does not give insurance advice — a regulated adviser can assess what suits your circumstances.

Speak to a regulated adviser

A regulated adviser or partner will be available here. Blooom provides information only and does not give regulated advice.