Protection plans are a type of insurance (also know as life assurance) which can help protect your family financially if something happened to you. They are different plans to help protect your family for different things. 

Protecting your family with life assurance is one of the most important financial decisions you can make. It means you family could get a lump sum or a regular income if you die, become seriously ill or are unable to work because of an illness or injury. This will help  to maintain their standard of living and make sure that your children could have all of the opportunities you'd love them to have, such as going to university.

Perhaps you're wondering why you should pay for something that may or may not happen. One way of thinking about it is that it's like insuring your car or taking out health insurance. Those plans don't pay out unless something happens either, but they do give you peace of mind. Life assurance gives you this same peace of mind in knowing that if something unfortunate does happen, your protection plan will help lighten the financial burden for your family.

Work out the income your family would need if something happened to you here.