Life Insurance

Life insurance enables you to leave behind a lump sum of money for your family when you die. This can be used to support them for a number of years, to replace lost income, or to pay off a large debt such as your mortgage. Your age, health, lifestyle and how much cover you need, as well as the type of policy we recommend, will all determine how much you pay each month. Suited to your individual Needs, these can be set up on a decreasing term to match a repayment mortgage, An annual income for a number of years as a Family Income Benefit, level term for a certain number of years or whole of life.

Critical Illness

If you are diagnosed with a critical illness in the future, this could have a massive impact on your finances as you may need to take an extended amount of time off work for your treatment and recovery. Critical illness Plans are designed to help you financially by paying out a lump sum payment when you are diagnosed with one of the specified critical illnesses covered by in your plan.

This can be used to pay off your mortgage balance or help towards a loss of income or private medical treatment if required.

The most common claims are for Heart Attacks, Strokes & Cancer.

Income Protection

Income protection is a policy that pays out monthly if you are unable to work due to accident, injury or illness. We will explore how much you need to receive per month to ensure you don’t get into financial difficulty whilst you are off work. This is usually around 60% of your gross salary, tax free.

Income protection usually pays out until retirement, death or return to work. There are options for short- term income protection and long- term, both of which, we will explain and discuss with you in detail.

Accident Protection

Accident protection covers you should you have an accident at work or home. This type of plan can provide cover for individuals who do amateur sports, work within the healthcare sector, and accident cover for children. Accident cover is great for those who are unable to get income protection cover as the accident plan we can help arrange does not require a doctors report to be completed.  This policy pays out per accident/injury. Once you have had this plan for 12 months, it also pays out for each day you are required to stay in hospital.

Family Income Benefit

Family income benefit is a special type of life cover. With a standard life cover plan, your family will receive a lump sum pay out when you die and it’s then up to them to handle that money. With family income benefit, your loved ones will instead receive a regular monthly income for a set period of time, often to replace your income. You can have a Family Income Benefit plan alongside a standard life cover plan or instead of. We will explain the benefits of both and give a recommendation based on your family’s needs & requirements.

Business Protection

The sudden loss of a key figure or shareholder can prove devastating to a business and can cause long-term, irreparable damage. Their specialised knowledge, skill set, or contacts are usually vital to the profitability of the business.

How can we help?

A Business Protection policy is designed to pay out a lump cash sum if the person insured:

·       Dies

·       Meets the terminal illness criteria of insurers

·       Becomes permanently totally disabled (if you have selected this benefit)

This lump sum can support the business to continue growing.

Relevant Life Protection

Considered a better alternative than life cover for business owners, executives, and key employees. A Relevant Life Plan is an individual ‘death in service’ life policy designed to pay a lump sum benefit if the person covered dies or is diagnosed with a terminal illness during their employment, within the term of the plan.

Relevant Life Plans are similar to most other types of life cover but can be an advantageous tax efficient alternative, providing valuable death in service benefits for you and your employees.

TAX-FREE PEACE OF MIND - In most cases premiums and paid benefits qualify for Income Tax, NI and Corporation Tax relief and do not count towards lifetime allowances.

REDUCED PREMIUMS - Premiums could be reduced by up to 49% if you’re a higher rate taxpayer and up to 40% for a basic rate taxpayer.

FLEXIBLE COVER - Tailored schemes that work for your employees and the business, including higher cover if required.

If you are unsure which cover is appropriate for your business, please contact us and we can support you further.

Key Person Protection

We can arrange for Key Person Protection. If you take out a policy on the life of each Key Person, the business owns the contract and pays all the premiums.  If the insured employee dies within the term of the policy (or is diagnosed with a critical illness if this is also insured), the company will receive the pay out of the sum the employee was insured for.

Shareholder/Partnership Protection

Shareholder/ partnership protection is an invaluable cover to have if your business has more than one shareholder. This cover ensures that control remains with the surviving business owner(s), and allows the remaining shareholders to buy the shares and retain control of the company, while ensuring they adequately reimburse the family of the deceased.