Insurance Pages of Monklands Online-

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Travel Insurance

Home Insurance

Life Insurance

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Payment Protect

Private Health Insurance

Critical Illness

Long Term Care

Glossary -Terms

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Please note that the information provided here is of a general nature only and for more detailed advice on what you are covered for you must refer to your policy or to your insurance company.
Insurance

General Insurance

These are all types of general insurance i.e. they only pay out when an insured event occurs.

General Insurance
Car insurance	Pays out if you injure someone or damage someone else's property while driving. It can also cover damage to your own car
House contents insurance	Covers the cost of replacing possessions lost or damaged due to unforeseen events (as detailed in the insurance policy)
House buildings insurance	Pays the cost of repairing or rebuilding your home if it is damaged by unforseen events - as detailed in your insurance policy.
Travel insurance Our travel insurance page We can no longer give recommendations	Pays out if you unexpectedly have to cancel your holiday; are taken ill while away; injure somebody or damage somebody else's possessions; lose your own possessions; etc
Payment Protection Insurance sometimes referred to as Accident, sickness and unemployment (ASU) insurance. See Payment Protection Insurance	Pays out a regular amount for a limited time - if you can't work for health reasons or redundancy Includes Mortgage Protection ASU insurance used to cover your mortgage payments and other creditor insurance - ASU insurance used to cover repayments for a particular loan
Private medical insurance	pays your bills to 'go private' if you need medical treatment
Income protection insurance (also called permanent health insurance)	Replaces part of your income if you can't work because of long-term illness or disability Often this is a type of of non-investment insurance but, if it builds up a cash-in value, it is based on an investment-type life insurance policy.
Critical illness cover	Pays out a lump sum if you are diagnosed with certain listed life-threatening conditions, for example some types of heart attack, and some cancers.
Long-term care insurance	Covers the cost of being looked after - usually in old age - if you can no longer manage on your own
Life Insurance
(Term) Life Insurance	These are term insurance (also called protection-only life insurance) for a fixed term ie 10, 15, 20 years etc and only payable if the event (ie death) occurs within that time.
(Whole of ) Life Insurance	Whole-of-life plans are life insurance policies, designed to provide cover for an individual's whole life and pay out a lump sum when you die.

If you have any recommendations that you wish us to consider - please drop us an email

We all know that to enjoy retirement, you need to plan ahead. And lots of us could be smarter with our money - we often pay too much to borrow money and don't get the best deals on our savings.

But planning for your future can be confusing - where do you start?
If you are the main bread winner for your family, you might want to consider Life Insurance to make sure that they can cope financially should something happen to you.

Glossary of Terms used in the insurance business

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