Protection and insurance

Life insurance requires you to pay regular premiums and in return provides a tax-free payment to beneficiaries of your choice at the point that you die. Many mortgage lenders require you to take out life insurance to ensure that the outstanding debt can be settled if you were to die before the mortgage is cleared.

You can choose the amount of cover you would like to take out when taking out the policy.

As an employee of LSEG, you have a death in service policy provided by the Company which is a type of life insurance. This will pay a multiple of 4 times your salary in the event that you die whilst employed at LSEG, you can opt for this cover to be higher.

Provides a lump sum payment in the event you suffer a serious injury or illness that is listed in the policy wording. The purpose of this policy is to provide the funds for you to make adjustments to your home and lifestyle in the event of a life changing illness or injury.

Provides a regular payment to replace your salary in the event you are unable to work for a sustained period due to illness or injury. This policy is designed to come into force once you have exhausted any payments your employer makes whilst you are unable to work.

Legally required if you drive a motor vehicle on the road. The cover you choose can vary, from policies that only cover damage caused to property owned by others (third party cover) through to cover for your own vehicle, breakdown cover and legal assistance.

There are broadly two types of cover. Building insurance covers the building itself and any fixtures and fittings. This is designed to cover the repair or rebuilding of the property in the event of events such as fire or flood. Your mortgage provider will require you to have this cover.

You can also take out contents insurance. This will normally cover your contents against damage or theft. There are numerous options for this type of cover, for example you can include accidental damage cover and cover for high value items that might otherwise be excluded from the policy.

Can provide cover should you require medical treatment or suffer loss or damage to your belongings whilst you are on holiday. The amount of cover provided and exclusions that apply may vary between policies. If you are planning to go skiing or will be taking part in adventure sports for example, it will be important to check the policy covers you for this.