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ABI publishes protection factsheet for consumers

The Association of British Insurers has published a factsheet outlining the different types of protection products available to consumers.

The factsheet warns people that if they lost their job, got ill or were off work for a long period of time they may struggle to keep up with mortgage or loan repayments but having the right insurance could help them better maintain their lifestyle.

The factsheet explains that life insurance pays out a lump sum to protect your dependents if you die, critical illness pays out a lump sum if you are diagnosed with a qualifying critical illness and income protection insurance provides you with a regular income if you are too ill to work.

It recommends that consumers see an IFA to help them choose the right policy for them.

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