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Protect your family.
Personal Protection is a broad term that refers to insurance policies designed to cover your health and wellbeing, provision of private healthcare, your income and your life.
Life Insurance
Life cover is an important consideration for anyone who wants to ensure their loved ones are financially protected in the event of their death or terminal illness diagnosis. There are various types of life cover available, each with its own benefits and drawbacks. It's important to carefully consider your options and choose the right type of cover for your individual needs and circumstances.
Critical Illness Cover
Critical illness cover, also known as a dread disease policy, is a type of insurance that provides financial protection to policyholders in the event of a serious illness. Under this policy, the insurer agrees to pay a lump sum or partial cash payment if the policyholder is diagnosed with one of the specific illnesses listed in the policy. This type of insurance can provide peace of mind and financial security during a difficult time.
Income
Protection
Income protection insurance provides regular income if you can't work due to sickness or injury. It's typically 60%-65% of your gross annual salary, depending on the provider and deferred period. It's a valuable way to protect your financial stability.
Policies can typically pay out from as short as 12 months, 24 months, 60 months (provider dependent) to full term subject to any deferred period. Full term will pay until a set age often your retirement age, thus giving you peace of mind that in the event of sickness or injury, if you are unable to carry out your own occupation you could be entitled to a monthly benefit.
Learn more income protection here
Whole of Life/ Inheritance Tax
What is inheritance tax insurance ? Do I need it ? As a single individual, when you die and leave an estate – the total monetary value of most of the things you own on the date of your death – worth more than £325,000, your estate pays inheritance tax (IHT) at 40% on anything above the £325,000 nil-rate band threshold. This can take a considerable bite out of anything you were planning to pass on to your loved ones. Despite the reliefs and allowances available, it’s still the case that some estates — particularly larger estates — will have to pay inheritance tax. If you think you might have to pay inheritance tax, the first thing to do is calculate your inheritance tax liability. One option would then be to purchase inheritance tax Life Insurance to cover the bill. This usually takes the form of Whole of Life Insurance. Alternatively, some people try and avoid inheritance tax by giving away substantial proportions of their wealth before death. However, if you die within 7 years (and potentially up to 14 years if you’ve previously made gifts into certain trusts) of making the gift, there may be inheritance tax to pay on that gift. Whole of Life Insurance does what it says on the tin. It’s an insurance product that will protect you for your whole life and pay out eventually on your death, whenever that may be. This is opposed to the more common term assurance policies, where the term is fixed for a set period and you only receive a payout if you die within that period. Although more expensive than a Term Life Insurance policy because the payout is guaranteed providing you keep paying premiums, Whole of Life Cover written in trust will provide a tax-free lump sum on death to act as inheritance tax insurance. This can be used to pay off any outstanding IHT liability that attaches to your estate. As the lump sum payout is written into trust, it’s separate from the estate and readily available without having to go through probate. It can then be used to clear HMRC’s inheritance tax bill, unlocking the rest of the estate for distribution as per your wishes (assuming you’ve made a will – otherwise your estate is distributed according to the rules of intestacy).
Family Income Cover
Family income benefit insurance provides regular financial support to the policyholder's family in case of death or terminal illness. It pays a monthly amount over a set term and is usually more affordable than a traditional life policy.
Private Medical
Private medical care can offer several benefits, including faster appointments with specialists, access to private GP's, diagnostics, and treatments, as well as the comfort of a private room. It is important to note that private medical care is not intended to replace the NHS, but rather to complement it. If you are considering private medical care, it is important to research your options and choose a provider that meets your needs.
