Insurance with extras
Did you know your insurance policy may offer more than just financial coverage? Gone are the days of taking out an insurance policy and forgetting about it, as many modern policies now include additional benefits and services, often at no extra cost.
If you ever suffer from an injury or a critical illness, a payout from your insurer can ease the pressure. It can stop you worrying about the rent or the mortgage, or about paying the bills while you’re off work. However, money can’t ease the emotional strain. It can’t talk to you about your diagnosis and reassure you about your treatment. It can’t hold you and your family together through difficult times.
What benefits are available?
The types of benefits and services offered will depend on the insurance company, but many offer common services such as:
Health and wellbeing support, including virtual GP consultations, mental health support, access to specialist therapies, bereavement support, and second medical opinions.
Career and legal guidance, which can help with inheritance tax queries, will writing, probate, powers of attorney, CV writing, interview preparation, and getting back to work.
These features are there to help you to stay fit and healthy and prevent small health issues from becoming big problems. If you or your partner and children are going through a difficult time, such as serious illness, injury, or bereavement, they can often access these services without needing to make a claim.
What to watch out for?
Although many insurers include these services at no additional cost, that’s not always the case, so it's worth checking your policy documents to understand if there are any associated costs. It's also important to check if there are any limitations on how often services can be accessed and who can use them. Can the policyholder's family also access these benefits?
If you’re unsure about any features of your insurance policy, contact your financial adviser or the insurer directly.
