Types of insurance

Under the state-run National Insurance scheme, you are entitled in certain circumstances to receive benefits while you are sick, unemployed, widowed or retired. Special grants are available on death, for children end on a confinement. There is also an industrial injuries scheme under which employees may be compensated for accidents occurring during the course of their employment. Later we give details of how much you can expect from the state and explains the various qualifying conditions.

Policies, they are mainly variations of the basic life assurance policy where a cash sum is payable on death, often in combination with an element of personal investment. Certain policies have been devised to cover such special situations as buying a house, paying school fees or alleviating the effects of estate duty. Life assurance is also a useful way to provide for cash sums on retirement (Chapters 6-8 give full details). Annuities are the reverse of life assurance. Instead of paying an annual premium in return for a cash sum on death, you pay ail initial lump sum to your insurers, who then pay you a regular income so long as you live - it is this yearly income which is known as an annuity. Section 9 describes some of the kinds of annuity which are on the market.

You may retire from work with more than a quarter of your life still ahead of you. It is possible for you to arrange to receive a fixed regular pension so long as you live, and to provide for your widow or any other dependants. Many firms have a comprehensive pension and widow's scheme for their employees, and there are special pension rules for the self-employed. A fuller description is given later.

With personal accident and sickness insurance, you receive a lump-sum payment on disability resulting from an accident together with a regular weekly income during sickness. You may also obtain cover for private medical expenses.

Holiday insurance covers you for accidents during a holiday or while travelling, for medical expenses which you may incur if taken ill abroad, against the loss of your money or luggage, against damage to baggage or against the costs incurred if you are forced to cancel your holiday in the event of illness or death occurring in your family. Many insurers issue a special package policy


Types of insurance

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

Salon Gold Insurance

Cheaper Insurance for Salons, Freelance Hair and Beauty, and Mobile Businesses - click here

read on: The Basic Facts on Insurance - Car owners

Under the state-run National Insurance scheme, you are entitled in certain circumstances to receive benefits while you are sick, unemployed, widowed or retired. Special grants are available on death, for children end on a confinement. There is also an industrial injuries scheme under which employees may be compensated for accidents occurring during the course of their employment. Later we give details of how much you can expect from the state and explains the various qualifying conditions.
Policies, they are mainly variations of the basic life assurance policy where a cash sum is payable on death,... see: The Basic Facts on Insurance - Car owners