The best financial planning starts with a solid foundation. Our team of Protection financial advisers can help.
The best financial planning starts with a solid foundation. For most of us, this means protecting what we already have: Our home, our life, our loved ones, and our livelihoods.
There are a variety of different policies you can take out to help a variety of needs. Some of the policies our protection financial advisers set up for clients include:
This is normally the lowest and most straight forward option available. It provides a fixed or decreasing amount of life cover over a fixed term at the end of which the cover ends. It can be used to protect a liability such as a loan or it can be used to provide a lump sum to someone dependent on another such as a partner or child.
This is also a type of term assurance which normal provides life cover which decreases in line with a capital repayment mortgage so that in the event of death the mortgage is repaid.
Critical Illness Protection
As medical science and healthcare continue to make huge advances we are all living longer lives. Whilst we may be far less likely to die of a heart attack or cancer these days, it is a sad fact that such illnesses and their treatments can change our lives forever. Critical illness covers you against events such as these. In the event that you suffer from a specified critical illness, these policies will pay a lump sum which you can use towards your recovery or for any lifestyle changes you much make as a result of your illness.
Whole of Life
Whole of life policies are designed to provide life assurance coverage for an individual’s whole life, rather than a specified term. Usually they contain a savings component, which builds up and can hopefully subsidise the life assurance cost in later years. These types of policies can be useful for some people to provide for an inheritance tax liability.
These replace your income each month in the event that you suffer an accident or serious illness that leaves you unable or only partially able to do your work for a period of time.
These types of policies can help protect against a variety of adverse circumstances. They are especially important to smaller companies who rely on a few key individuals.
Key person protection – this is used to inject a lump sum into the business in the event of the loss of the key person such as a top salesperson or skilled designer in a design company.
Partnership / Director Share Purchase protection – These policies provide a lump sum to pass on to the family of the deceased to buy out their share in a business or partnership.
Private Medical Insurance
This is taken out as a preventative insurance for any illness, disease, or medical treatment that you may need in the future. It enables you to obtain treatment quickly, and at a time and place of your choice without the need to wait on NHS waiting lists.