Life Insurance

Life Insurance is a financial product that pays out when you pass away.

The money is paid to your beneficiary/beneficiaries, and there are two options on how this could be done – either as a lump sum, or as an income. A lump sum could be used to pay off a large debt – such as a mortgage. 

It is not a one size fits all arrangement. Many factors will come into play when assessing which type of policy will be most suitable for you. This will include things such as your age, general health, income, level of protection, any currents illnesses, age of any dependants, and marital status – to name but a few! 

We have the knowledge and experience to find exactly what is right for you, at a price which is affordable. 

Contact us for a quote. 

Critical Illness

Critical Illness Cover pays out on successful diagnosis rather than on death, as life insurance would.

Critical Illness covers many different illnesses, and they can vary from one provider to the next, but they would cover cancer, heart attack and stroke as a minimum.

Some providers cover a lot more than this though, and with our knowledge of Critical illness cover we are well placed to offer advice on the best policies available.

It is normally paid out in a lump sum, which can help in many ways – you could use it to pay for your care, make adaptations to your home, or pay off the mortgage to ease the financial pressure.

There are also policies available for children, which would allow you the financial breathing space if you were unable to work for a time. 

Income Protection

Of the three personal protection policies, this is the least well known.

It is designed for if you have to take time off work due to serious illness or injury and pays a regular income each month, usually until you return back to work. 

This type of insurance is not related to a mortgage in any way and is just as advantageous to those who are renting. 

The criteria around these policies varies from one provider to the next, and there are different options available to you depending on a variety of factors as well as the level of protection you would like to take. 

Contact us if you would like to discuss these options further. 

 

WILLS AND estate PLANNING

Let’s face it, no-one lives forever, which means that your Will could be the most important document you ever get drawn up. So why do most people never get round to doing it?

If you do not put your own will in place, the Intestacy Rules set out the Compulsory Order of Entitlement take effect. This means how your estate is dealt with following your death is decided for you. The rules do NOT allow you to protect children beyond the age of 18, do NOT allow you to appoint guardians or protect vulnerable family members and do NOT allow unmarried couples to provide for each other.

In contrast, having a Will means that you can:

Control how your assets are distributed

Appoint guardians for minor children

Protect vulnerable beneficiaries 

Safeguard your children’s inheritances

Provide for an unmarried partner

Ensure business continuity and preserve its value

Maximise any Inheritance Tax exemptions

Make gifts to favourites charities

Specialist advice is needed for Wills and Estate Planning. We do not do this ourselves, but we can put you in touch with the experts, who will be very happy to go through the process with you.