Because Personal Protection covers such a variety of products, it can come under a number of different names.

The above describe policies used to protect your repayment mortgage against the risk of you dying and leaving your debt behind for your family. These policies are only suitable for mortgages which are capital and repayment because the level of cover is designed to reduce as your mortgage balance reduces over the years. The reduction insures that there is always enough "in the pot" to pay off the mortgage if the worst happens but the policy is not designed to provide any surplus funds.

Term Assurance / Insurance / Level life assurance/insurance is different to Mortgage Life Assurance in that the amount of cover remains the same throughout the term of the policy and does not reduce. This type of Life Assurance is suitable for those people with Interest Only mortgages and people wanting to leave a sum of money behind to ensure their families can maintain the required standard of living.

Critical Illness Cover

Critical illness cover is an important financial safety net. It's designed to to pay out a fixed cash amount if you're diagnosed with one of the critical illnesses covered in the individual insurer's policy. Critical Illness Cover is designed to pay out in most circumstances, however because of advances in medicine, conditions need to meet the definitions as outlined in the policy.