There are many different types of insurance, each designed to protect against a different type of risk. Some of the most common types of insurance include:
– Buildings insurance: This type of insurance protects your property from damage or loss due to fire, theft, or other hazards.
– Contents insurance: This type of insurance protects your home contents from damage or loss due to fire, theft, or other accidental damage./li>
– Life insurance: This type of insurance pays a death benefit to your beneficiaries if you die.
– Critical Illness Insurance: Serious illness and critical illness insurance plans pay out a tax-free lump sum on the diagnosis of a range of serious (but not fatal) conditions.
– Income Protection Insurance: Income protection insurance pays out a regular tax-free income if you become unable to work because of illness, injury or – with certain policies – compulsory redundancy