What do we mean by Protection? Protection is the term used that refers to providing financial protection for you and your family, you and your business, you and your business partners, your employees, your key members of staff, or your mortgage payments. To name just a few.
Whether that be Life Assurance, Critical Illness cover; Income Protection; Business Protection (Key Person cover, Relevant Life or Shareholder Protection); Family Income Benefit; Mortgage Protection, etc.
The common theme of all the policies named above is that they provide some financial protection or cash sum in the event of a significant event, whether death, a critical illness or unemployment.
Protection for your loved ones
If you have dependents such as children, a spouse, or elderly parents who rely on your income, life assurance can provide financial support to them in the event of your untimely death. The proceeds from your life assurance policy can help your loved ones pay for mortgage payments, education, and daily living expenses.
Paying off debts
If you have outstanding debts such as a mortgage, car loan, or credit card balance, life assurance can help ensure that these debts are paid off in the event of your death. This can prevent your loved ones from having to take on these debts and reduce their financial burden.
Peace of mind
Having life assurance can provide you with peace of mind by knowing that your loved ones will be financially protected in the event of your death. This can be especially important if you are the primary income earner in your household.
Life assurance can also be used as a tool for estate planning. The proceeds from your life assurance policy can be used to pay for inheritance tax and other expenses related to settling your estate.
Life assurance can also be used for business purposes, such as to fund a buy-sell agreement between business partners, provide Key Person coverage, or protect the lives of your employees.
Whatever your protection needs are, please get in touch.
There’s no such thing as a silly question.
The plan will have no cash in value at any time, and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
The policy may not cover all definitions of a critical illness. For definitions of illnesses covered please refer to the Key Features and Policy Documents.
Estate Planning Advice is not regulated by the Financial Conduct Authority.