Personal Protection

A Term Life Insurance plan covers you for a fixed period and pays out a one-off lump sum if you die during the policy term. Some policies will also pay if you are told you have less than 12 months to live. We believe it’s important to place your life cover in Trust, surprisingly this isn’t always done. A Chartered Insurance Institute report in 2018 suggested that as few as 4% of policies are placed in trust. Placing a policy in trust keeps the proceeds out of your estate for Inheritance tax purposes and can speed the payment as the proceeds are paid straight to the trust.

An alternative to Term cover is Whole of Life, which pays out when you die, whenever that may be. It is a more expensive option than term assurance simply because, as long as premiums are paid, the life assurance company knows that it will definitely pay out at some point. 

Term Life cover is designed for those who want to leave a lump sum should they die within the specified time period, whilst keeping the cost to a minimum. Term assurance is particularly important if you have young children or other financial dependents. It can be used to cover a mortgage but is not tied to paying it off, the choice is with your dependants. As advisors we can help you find the plan that best meets your requirements. If your current policy is not in Trust, we can help.

Whole of Life is designed for those who want to ensure they leave a lump sum in the event of their death, whenever it may occur. It can be used to pay off debts or to pay a potential inheritance tax liability. As with term cover, if written in trust, it will be paid outside of the estate. 

An Income Protection plan is designed to pay out a regular income in the event you are medically unfit to work due to an accident or illness. These types of plans continue to pay out a monthly income for as long as you are unable to return to work and up until the end date of the policy. There are other options if budget dictates, that provide Short-Term Income Protection which pay for a one, two or five years per condition. This cover is quite often seen as the foundation of any financial planning as loss of income can have a significant impact of the family finances.

Anyone who is working, either employed or self-employed, who wants to replace their income in the event of illness or injury. Plans can be adapted to fit in with any existing protection or sick pay you might have through your employers. Our advisors can help you find the plan that best meets your requirements.

Get a lump sum payment for accidents that cause broken bones or require hospitalisation or for accidental death.

Self-employed, amateur sports players and those who can’t get underwritten life cover.