Insurance & Protection

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Life insurance insures the policy holder in the event of death, proceeds are typically paid to family members on death. There are numerous different types of life cover which are suitable in different scenarios.

Insurance is a key part of any financial plan. Unfortunately, primarily due to the plethora of confusing aggregator sites on the internet these days, people can get ‘cheap’ life cover without necessarily understanding if they have the right amount of cover, from the right type of policy, for the right period of time, perhaps without proper understanding of the policy terms and conditions or whether the policy should be placed in trust.

Why use a Financial Adviser to broker insurance:

An insurance policy taken out through an aggregator site is more likely to be unsuitable, relative to a brokered policy.

It is best practice for a financial adviser to structure your insurance policy, with a holistic financial plan in mind.

The types of things a good financial adviser will look at when structuring your policy are; your holistic financial plan, debts, IHT, family illness, mortality statistics, your health, financial legacies and estate planning, lifestyle; risk to family if main earner is unable to do their own job; company accounts if self-employed; employment contract if employed, use of trusts, etc.

Question: Would you take out a cheap insurance policy if you knew that it may not be suitable for your requirements?

Alex specialises in brokering suitable Life Insurance policies for Directors, Contractors, Freelancers and both Self-Employed and Employed people, alike.

Here’s some reasons why you might think about taking out a Life Policy:

• Death is a known entity in that it will happen, at some point in our lives, to all of us.
• If you are a schedule E employee, a director or self-employed and your cover is for a business purpose, your insurance premiums could qualify as a tax deductible expense, subject to approval from the local inspector of taxes.
• You can use an insurance policy to pass on a financial legacy to your loved ones, tax free. However, if the proceeds are paid to the estate, they may be liable for IHT.
• Whole of Life policies are market risk free, i.e. not typically linked to the financial markets.
• Return on Investment. Whole of Life policies can provide a good, risk free return on the premiums paid throughout the term. This is a way to diversify inheritance away from the financial markets or property.
• Personal policies can benefit from tax efficiency too. Where, if set-up in a suitable trust, on death the sum assured will not form a part of the deceased’s estate.
• If a suitable trust is used, funds can be administered quickly on death without the need for a grant of probate or a Will.

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• Home
• About Me
• About You Getting Off to a Good Start
• Increasing Responsibilities
• Growing Your Wealth
• Planning a Safe & Secure Retirement
• Enjoying Your Retirement

• Savings and Investments
• Mortgages
• Insurance
• Business Planning
• Pensions and Retirement Planning
• Estate Planning

Critical Illness insurance cover the policy holder in the event of a life threatening illness such as cancer. It pays directly to the policy holder and is used to help the policy holder survive the illness and / or live more comfortably than they would do otherwise.

If you are a Critical Illness Cover (CIC) policy holder and you’re diagnosed with one of a number of listed critical illnesses, the policy will be triggered and it will pay out a lump sum, free of tax.

If you want the cover to do what it is supposed to, as with any insurance, it is important to use a quality financial adviser to broker the cover for you.

For example, the illnesses covered, and illnesses excluded from cover, vary widely between insurers and pre-existing conditions tend to be excluded, but some insurers will base cover on your personal medical history.

People often ask what the difference between critical illness cover and life cover is, so here it is:

The key difference is that life cover will pay out if you die, whereas, critical illness cover will pay out if you suffer an illness (covered by the policy definitions and you survive for a minimum period). The sum assured from a critical illness policy could be used to pay for medical treatment, cover adaptations to your home (such as mobility aids, special equipment or structural changes required due to a disability) or to pay off your mortgage. In fact, it can be used for anything. The fact is, in some cases, the payout may be the difference between surviving the illness or not, but at minimum it is designed to make your life more comfortable if the illness is terminal.

What critical illness cover doesn’t do is produce a regular income. If you were unable to work due to a critical illness, a good income protection policy would cover your ongoing expenditure.

All insurance premiums will increase with age, but will also depend on your personal medical history and that of your parents and immediate family, because many diseases are hereditary.

Alex specializes in brokering suitable Critical Illness Insurance cover for contractors and self-employed people.

Want further information?

Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the know-how you need to make informed decisions about your future. I then help you implement the strategy into a reality by working with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.

Not sure what to ask? Call today on 01628 308138

Financial Planning for People & Businesses Across the Thames Valley

Contact Us

Ask a question or make a no obligation enquiry by email

Finance FAQs

A list of clear answers to questions frequently asked by my clients

Finance Jargon

A simple guide to help clarify the confusing terms and financial jargon

• Home
• About Me
• About You Getting Off to a Good Start
• Increasing Responsibilities
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• Planning a Safe & Secure Retirement
• Enjoying Your Retirement

• Savings and Investments
• Mortgages
• Insurance
• Business Planning
• Pensions and Retirement Planning
• Estate Planning

Income protection insurance cover pays out on a monthly basis in the event that the policy holder cannot do their own job. It is a lifestyle insurance.

“The one protection policy every working adult in the UK should consider is the very one most of us don’t have – income protection.” Which? 2014.

What is income protection?

• Income protection cover is a lifestyle cover which provides monthly income to the insured policyholder after a chosen deferred period.
• The monthly pay out is based on a percentage of your salary, typically 65%, or if you are self-employed based on a percentage of salary and dividends.
• The policy pays out until the policyholder are able to return to work and so policies can pay out until retirement age.

Who should take out income protection / long term sickness cover?

If the answer is, YES, to any of these questions then you should consider taking out a suitable income protection policy:

• Are you the sole breadwinner in your family?
• Do you have financial dependents to support?
• Do you have regular bills to pay?
• Do you run your own business?
• Could you and your family maintain your lifestyle if you couldn’t work for a protracted period of time?
• Are you self-employed?

Alex specialises in brokering suitable income protection for self-employed contractors and group income protection insurance

Please get in touch for more information.

Not sure what to ask? Call today on 01628 308138

Financial Planning for People & Businesses Across the Thames Valley

Contact Us

Ask a question or make a no obligation enquiry by email

Finance FAQs

A list of clear answers to questions frequently asked by my clients

Finance Jargon

A simple guide to help clarify the confusing terms and financial jargon

• Home
• About Me
• About You Getting Off to a Good Start
• Increasing Responsibilities
• Growing Your Wealth
• Planning a Safe & Secure Retirement
• Enjoying Your Retirement

• Savings and Investments
• Mortgages
• Insurance
• Business Planning
• Pensions and Retirement Planning
• Estate Planning

PMI is a cover that enables the policy holder and their family to see a consultant quickly, in a pleasant setting but most importantly, when they need to.

Private Medical Insurance (PMI) is a valuable policy and in my opinion, everyone should take out this cover, if they can afford to.

Why Private Medical insurance?

If you want to see a consultant about something that is bothering you, the way to be seen quickly and by a top-class specialist consultant, is through your PMI.

For me and my family, having PMI has been invaluable. We have used and continue to use our policies frequently, where; having these policies has made a material difference to our quality of life, our health and our working life, whilst trying to juggle two children and our jobs.

PMI is not a replacement for all NHS services – for example, accident and emergency treatments are not covered.

Premiums for Private Medical Insurance vary, depending on the level of cover you buy, your age, state of health and whether or not you smoke.

Finding the right PMI policy is important; it can mean the difference between getting the treatment you need quickly or not at all as the NHS is under so much pressure just now.

I am a private health insurance specialist broker and can help you to find suitable cover for you and your family.

Want further information?

Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the know-how you need to make informed decisions about your future. I then help you implement the strategy into a reality by working with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.

Not sure what to ask? Call today on 01628 308138

Financial Planning for People & Businesses Across the Thames Valley

Contact Us

Ask a question or make a no obligation enquiry by email

Finance FAQs

A list of clear answers to questions frequently asked by my clients

Finance Jargon

A simple guide to help clarify the confusing terms and financial jargon