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.

Income Protection aims to provide you with a regular benefit if you suffer illness or injury leading to a loss of income. Your benefit can replace lost earnings, help maintain key expenditures or, if you don't work, it can meet additional expenditures. It offers the choice of how soon you want the benefits to be paid to take account of the income from your employment. It will provide cover for the duration of the contract no matter how many claims you make. Under current legislation the benefit is paid to you tax-free.

What is Income Protection?

The plan is usually designed to replace up to 60% of your income in the event of unexpected sickness or accident. Cover will start after one month of the policy commencement. Then, if as a result of illness or injury you are unable to work for more than three consecutive days, the benefits of the policy will be paid from the first day of incapacity unless you have chosen to defer the benefits for either 1,4,8,13,26, or 52 weeks.

You have the option to choose the type of cover in accordance to the job you are doing and skills you possess. Under ‘own occupation’ you will qualify for benefit if you are unable to perform your own occupation, whereas under own/own suited occupation benefit will cease after 52 weeks if you are able to carry out some other occupation to which you are suited by training, education or experience. The option will be made at the outset of your policy, depending on your own circumstances.