This plan is designed to provide you with a guaranteed benefit payable on death. The plan can be set up on a single or joint life basis, usually with your spouse or partner. It is also possible to take out the plan on a life of another person, provided an insurable interest exists between you and the other person. You will only have an insurable interest in the life/lives assured if you will suffer financial loss on their death.

The plan can also be suitable for businesses and partnerships that wish to safeguard themselves against a potential financial loss if one of the principals of the business were to die.

Terminal Illness Cover

This is often included at no extra cost and would pay out the benefits of the plan if you were diagnosed with a terminal illness during the term of the plan (excluding the last 18 months). Terminal Illness is defined as advanced or rapidly progressing incurable illness where, in the opinion of an attending consultant and the insurance companies chief Medical Officer, the life expectancy is no greater than 12 months. After a claim your plan will cease.

Critical IIlness Cover

This benefit is usually taken as an optional benefit to a Mortgage Protection or Family Protection plan. Critical Illness Cover would provide a lump sum benefit on diagnosis of a Critical Illness covered by the policy. The amount of benefit paid would be the same amount as your basic death benefit. After any claim the plan would cease. Apart from the main Critical Illnesses, for example HEART ATTACK, CANCER, STROKE, cover can also be included that may be pertinent to your sporting activities for example TRAUMATIC HEAD INJURY or TOTAL PERMANENT DISABLEMENT.

We know that not all diving activities are the same. We understand the difference between Snorkelling and Scuba. And we work closely with BSAC to keep our knowledge up to date.

Plus we deal individually with each client and are able to quote a premium that takes into account your diving before the submission of an application - saving you valuable time and confusion.

Scuba Financial Services simply specialises in arranging life cover, critical illness and income protection cover for divers.

What is a Mortgage Protection Plan?

This plan is designed to provide you with a guaranteed benefit payable on death. The sum assured will decrease over the term of the plan and is normally used in connection with a Capital Repayment Mortgage, where the balance of your outstanding mortgage will decrease over the term. When a claim is made the benefit is paid as a lump sum, which is intended to repay the outstanding mortgage. However the plan does not have to be linked to a mortgage and, if required can be a way to provide a reducing level of cover. The guaranteed benefits of the plan will decrease at a predetermined rate and should be sufficient to always pay off any outstanding loan as long as mortgage rates do not exceed the predetermined rate (usually 6 -10%)

The plan can be set up on a single or joint life basis, usually with your spouse or partner.