Protection plans should be the foundation of good financial planning. In the event of illness or death of an income producing partner, the effects of not having adequate plans can be devastating to an individual or a business. There are several events that you can provide protection for:
- to ensure your mortgage is paid off in the event or death, terminal or critical illness.
- to provide financial security for your loved ones.
- to provide replacement income in the event of a long-term illness.
- to pay out a lump sum in the event of a critical illness, which could mean you have to give up work.
- to ensure future education costs are met in the event of death or critical illness.
- business planning – partnership or director protection / key person insurance.
It is extremely important to get the most suitable advice when selecting appropriate life cover or protection products as, if set up incorrectly, may not pay out to whom you intended, or could even cause Inheritance Tax problems. We provide advice on protection plans and are able to source appropriate and suitable cover on price and product features. Also, most of the time, for no additional cost, we can set the plans up in a trust, so that you can be sure that the benefits will end up in the right hands at the right time.