Insurance - choosing products

It is important you make arrangements to take care of yourself, your family and your property. This will prepare you for unexpected events, such as loss, theft, accidents, illness, disability, redundancy or death.

Use the table below as a guide to help you understand the different insurance products availble. Consider the cover most suitable to your needs, remember restrictions may apply - so always ask an insurer if you are eligible for cover first.

Insurance	Level of cover/main benefits	Exclusions/restrictions	Tax relief on premium
Home insurance	Depending on the type of cover, home insurance can cover damage to your buildings, contents, loss or damage to valuables even when outside your home and injury to other people in or around your home.	Varies by policy. For example, some policies will not cover flood damage if your home is in an 'at risk' area.	None
Income protection/ Permanent health insurance	Provides you with a taxable income if you lose your work income due to disability/illness or injury. The benefit is paid out for a certain period of time – usually until you get better or reach retirement age.	You must be in full-time paid work or be self-employed to get and continue to have income protection cover.	Yes
Life Insurance	Pays your estate either a lump sum or regular income if you die during the time limit set out in the policy. The cover is either whole of life or for a specific term.	Your age, gender, health and family medical history will affect your eligibility and the cost.	None
Mortgage protection insurance	A type of life insurance policy that repays your mortgage if you die before clearing the loan. The cover lasts until you repay your mortgage.	Your age, gender, health and family medical history will affect your eligibility and the cost.	None
Car insurance	Depending on the type of cover, car insurance can cover damage caused by your car to other people’s cars and property and injuries caused to other people. It can also protect against damage to your car caused by fire or theft. You can also cover damage to your own car, property and items stolen from your car.	Varies by policy. Read more about car insurance.	None
Payment protection insurance (PPI) - also called 'Mortgage repayment protection' when it relates to a mortgage	Covers your repayments on a loan or mortgage for a certain period of time (usually one year) if you suffer from an accident, illness, death or compulsory redundancy, depending on the policy. Many policies generally cover a maximum of one year's repayments.	Varies by policy but you will not qualify if you suffer from an illness that is not covered under your policy, or know yourself to be ill or at risk of being made redundant when taking out cover. You also may not qualify if you are self-employer or a temporary/contract worker.	None
Private health insurance	Covers all or some of the cost of certain private and semi-private medical treatments, depending on the level of cover you choose. Cover is ongoing once policies are renewed on time.	Usually pre-existing illnesses.	Yes
Serious/ Critical illness insurance	Pays out a tax-free lump sum if you are medically diagnosed with one of the serious illnesses or disabilities that your policy covers.	Eligible illnesses and exclusions will be listed in your individual policy and will vary between providers. Your age, gender, health and family medical history will affect your eligibility and the cost.	None
Travel insurance	Covers you against losses while you are travelling, such as damaged or delayed luggage, cancelled flights, delayed or missed departure, loss or theft of money or passport, and illness or injury.	Many travel insurance policies do not cover pre-existing health conditions (suffered by you or immediate relatives) unless you tell the insurer in advance and they accept that risk. You may not be able to claim for cancelled trips unless the reasons match those set out in the policy.	None

This is a general description of the main types of insurances that are available. Terms and conditions will vary between providers and their individual products. You should read providers' terms and conditions carefully and ask for a clear explanation of what is covered and excluded, before you buy.