Life & Income
A policy written in trust pays a person, not an estate
A life policy left outside a trust usually pays into the estate, where it waits for probate and can be counted for tax.
Life & Income
Term cover, income protection and who actually needs which.
21 articles · updated August 11, 2026 · page 2 of 2
Life & Income
Decreasing term cover follows a debt, not a family
The sum assured falls year by year to track a repayment mortgage. That makes it cheaper and makes it the wrong shape for anything…
Life & Income
Whole of life is a promise with a bill that never stops
Term cover usually expires without paying. Whole of life is designed to pay eventually, and the pricing reflects that certainty.
Life & Income
The deferred period is the biggest price lever in income protection
How long you wait before the benefit starts changes the premium more than almost any other choice on the application.
Life & Income
Own occupation, suited occupation, any occupation: three different policies
The incapacity definition decides whether a claim succeeds. Two policies with identical benefits can behave completely differently…
Life & Income
Non-disclosure is discovered at the claim, not at the application
Protection policies are often issued after a handful of questions. The detailed investigation happens later, when somebody needs…
Life & Income
Joint life first death leaves the survivor with no cover
One policy covering two people looks efficient. It pays once, ends immediately, and leaves the survivor to buy cover at an older…
Life & Income
Income protection is offset against everything else that pays
The monthly benefit is capped against your earnings, and other income while you are ill is usually deducted from it.
Life & Income
Terminal illness benefit pays before the policy ends, within limits
Most term policies will advance the death benefit on a terminal prognosis. The clause has conditions that surprise people at the…