Would your loved ones be financially secure if you were affected by an accident, long-term illness, or if you died? Whilst this is difficult to consider, it is a crucial component of financial planning.
Having an appropriate level of personal insurance protection will ensure your loved ones are financially secure should the worst occur.
How we can help you
We can help you protect what matters most by recommending appropriate personal insurance protection policies, providing you with the peace of mind to continue with everyday life.
As independent financial planners, we have access to the whole market and can choose the right solutions for you.
- Income Protection: Provides a regular income until you can return to work, allowing you to focus solely on your recovery.
- Critical Illness Insurance: Pays out if you get one of the specific medical conditions or injuries listed in the policy, granting you financial support when it is needed most.
- Life Assurance: Covers you for life and will pay out upon death, ensuring your loved ones can cover everyday living costs that would have otherwise been impacted by your passing.
- Private Medical Insurance: Provides funds for immediate medical attention at the hospital of your choice, so you can get prompt treatment.
Our process
Your financial planner will take the time to get to know you before proposing suitable solutions and will ensure these are integrated into your financial plan.
Throughout your ongoing relationship with us, we will recommend periodic reviews of these policies. Typically, these will take place around significant milestones in your life.
You will be provided with a full breakdown of charges to agree prior to the commencement of any work.
1. Identify
Your financial planner will work with you to identify your requirements and objectives.
2. Implement
Your financial planning support team will carry out thorough research to the right personal insurance policies for you.
3. Review
If featured in your service agreement, your financial planner will periodically discuss your circumstances with you and identify any subsequent changes.
FAQs
Take a look at the frequently asked questions below to find out more.
Most people choose to buy personal insurance protection policies following milestone life events, such as:
- buying a house;
- marriage;
- starting a family; and
- a large salary increase.
Even if you have not reached these milestones, you should consider personal insurance protection against expenses such as rent or mortgage payments in case you cannot continue to make payments.
The type and level of cover you require will be dependent on what you are trying to protect. For example, your salary, the size and term of your mortgage, the needs of your dependants, and your assets will all affect what you need. You should also consider what provision is provided by your employer if applicable.
A professional financial planner can help you find the right policy for you.
Unfortunately, there is no guarantee that the state will provide you with income comparable to your normal income if you find yourself unable to work. You may be eligible for Statutory Sick Pay, but it will only provide you with a portion of your average wage and is only paid for up to 28 weeks. To maintain the standard of living you and your family are used to, it is important to consider personal insurance protection products. You should also consider what provision is provided by your employer if applicable.
You can choose to take out personal insurance protection as a couple as it can be cheaper to provide joint cover instead of two individual plans. However, consider that the joint policies will only pay out on a single occasion: following the death of either partner.
There are many factors that can influence how much your products will cost. Among them are age, health, smoking status, job, the length of the policy, and the amount of benefit that you are looking to receive. Generally, the earlier you take out your policy, the cheaper it will be.
It is important that you regularly review your protection policy so that you can be sure you still have the best option available to you. Inform your insurance company of any changes in your life, such as a new job or a bigger mortgage, to make sure that you are still covered.
Useful resources
Take a look at our useful resources below to find out more. Additional content is available via our resource centre.
Personal insurance protection
Have you got suitable personal insurance protection in place? If not, you should reconsider. Read our guide for more information.
Are your finances protected?
Personal insurance can help to protect you and your family in the event of the unexpected. Read our article for more information.
The importance of protection
Why is personal insurance protection important and what is available? Listen to In the know for more information.
Consider personal insurance protection
Personal insurance protection can protect you from the unpredictable. Read our article for more information.
