Family and Business Protection

Family and Business Protection

Many of you want to ensure that you and your families will be financially secure if something should happen to you. Financial security for you and your dependents is vital for most people and protection policies such as life insurance, critical illness cover, and income protection can ensure your loved ones have a secure financial future should anything happen to you.

Whilst protection is an important part of every person’s financial planning, we understand that everyone  requires different solutions. Our advisors will ascertain what level of protection is most suitable for you considering your current situation and long-term objectives.

We help clients in sourcing and comparing a broad range of personal and commercial insurances, obtaining the most suitable quotes to meet requirements. Whether you currently have policies that need review or are looking start new cover, we have the experience and insurance industry relationships to guarantee the best possible terms at highly competitive prices.

There are several types of life assurance policies which are worthy of serious consideration:

These include:

  • Critical Illness
  • Income Protection
  • Whole of Life
  • Term Assurance

Some of these policy types cover the scenario where you are unfortunately unable to work because of illness or injury. Knowing that the regular household payments will be made, and your financial commitments met during a difficult period in your life can offer peace of mind for the future.

The range of coverage varies depending on the type of plan, and as with any type of insurance, there are exclusions and limitations. To understand these, you would need to read your policy to find out what is covered and what is not.

Premiums are normally paid to the insurance company either monthly or annually.

The main purpose of Life Assurance is to provide money for those people who may depend on you financially, if something should happen to you. These people could include family members or business partners.

It can provide the reassurance of financial protection for you, your family and your business associates.

A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.

Even if there are no dependants who may be financially affected by your death, some Life Assurance policies could go towards covering funeral costs.

The type of Life Assurance and the amount of cover will depend on an individual's circumstances and requirements. Factors to consider will include age, dependants, level of income and financial liabilities.

Premiums are normally paid to the insurance company either monthly or annually for a fixed period or in some cases, until death.

While the overall concept of Life Assurance is easy to understand, there are some complexities.

Most importantly, there are different types of Life Assurance products, covering Term Assurance, Whole of Life and others.

However, because of the many options and flexibility, Life Assurance can be a powerful instrument in your financial planning toolkit.

Please be aware that this type of assurance is based on an assessment of your health.

 

Tax treatment is based on individual circumstances and may be subject to change in the future. Tax planning is not regulated by the financial conduct authority.Information is based on our current understanding of taxation legislation and regulations. any levels and bases of, and reliefs from taxation, are subject to change.