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Protection & Insurance
Most of us wouldn’t think twice about insuring our home, car, TV or smart phone, art, collectables or other material objects we see and use every day. We even make sure our pets and holidays are covered. So why do we not feel the same about protecting our lives and families? 

Perhaps it’s because we assume that when our lives come to an end, we’ll be old, our loved ones will be financially secure and our financial responsibilities will have been taken care of. 

Sadly, this situation isn’t always the reality. And, even if we do live a long and happy life, we may at some point suffer an illness or accident that prevents us from working, or makes us a victim of unemployment.

It’s therefore sensible to consider how you can protect your finances – and those of your family – if the unexpected were to happen.
Call now or fill in the form to discuss your protection needs
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Insurances We Advise On
Life and protection insurance policies are designed to protect you and your family from the financial consequences of death, a serious accident or illness, or unemployment.
Far from being a luxury, protection insurance should be considered essential, especially if you have a family or people that rely on your income.
If you suffered a serious illness or injury, you may lose your income – this could lead to you losing your home. Similarly, if you died, would your loved ones be able to maintain their current lifestyle without your income?
You may already have life and protection insurance in place, but it’s still worthwhile reviewing your current cover levels. Personal circumstances can change regularly so it’s important to ensure your level of cover is appropriate.
Term Life Assurance
What it does
Life insurance (sometimes known as life assurance) will pay out either a single lump sum (sum insured) or a regular income when you die. 
It can help provide financial security for people who depend on you, if the worst happens. 
Why you might need it
Although money can’t replace a loved one, it can help those left behind to weather the financial storm.
For example, it could pay off the mortgage or provide an income to help cover regular household expenditure.
1. Term Insurance
This is the simplest type of life insurance. You choose how long you’re covered for, e.g. 20 years (the term), and the policy pays out if you die within the agreed term. You can also take out term cover as a couple, with the policy paying out on the first death only during the term.
There are different types of policy:
Level: The amount of cover and premiums remain the same throughout the term of the policy.
Increasing (or index-linked): The amount of cover and premiums gradually rise in line with inflation.
Decreasing: The amount of cover gradually reduces. Generally used to protect a repayment mortgage where the amount of the loan outstanding reduces each year
Renewable: You can extend the original term of the policy 
Convertible: Allows you to convert the policy to whole of life insurance (see below).
2. Family Income Benefit Insurance
This is essentially the same as term insurance, but instead of paying a lump sum when you die, it will pay out a regular income instead. This type of payment may be more suitable where the main purpose of the policy is to provide ongoing financial support to dependants. 
3. Whole Of Life Insurance
Whole of life insurance pays out a lump sum when you die, whenever that is, as long as you are still paying the premiums until that point of time.
Serious & Critical Illness Insurance
What It Does
Serious illness and critical illness insurance plans pay out a tax-free lump sum on the diagnosis of a range of serious (but not fatal) conditions. These conditions include things like heart attack, stroke, cancer, major organ transplants and many others. The conditions covered will vary depending on the insurer.
Serious and critical illness insurance often comes as an optional addition to a life insurance policy, but can also be purchased on its own. There are some policies that will pay out a partial amount of your sum assured, and others which will usually only pay out once, so they don’t necessarily replace your regular income, but you can use the money towards medical treatment, your mortgage or anything else you choose.
Why You Might Need It
Many people buy serious and critical illness insurance when they take on a major commitment, like a mortgage, or start a family. However, since we’d all like to have our financial commitments lightened if we were to suffer a serious illness or injury, the cover is relevant for most of us at any time.
Replacing An Existing Critical Illness Policy
If you already have critical illness insurance you should think carefully before you cancel your existing policy and take out a new one.
For example, if you’ve developed any illnesses since you first took out the policy, you may lose some of the benefits when you replace it. That’s because pre-existing medical conditions may not be covered by the new policy.
Recent advances in the treatment of certain conditions, such as cancer, may also have an effect, as a new policy might be more restrictive than an older one when it comes to paying claims for certain conditions.
We will be able to quickly identify the issues and help you make the right decision about your critical illness insurance.
Why Gamble On Your Future?
On average, approximately 70% of the UK adult population regularly plays national lottery games[1]. Yet you’re much more likely to suffer a serious illness than see your numbers come up.
Winning the lottery jackpot: 1 in 45 Million chance[2]
Having a stroke: 1 in 6 chance for men, and 1 in 5 chance for women[3]
Getting diagnosed with cancer (born after 1960): 1 in 2 chance[4]
Having the right protection to suit your lifestyle means you’re much more prepared financially should you suffer a serious illness.
[1] - The National Lottery, Responsible Play
[2] - Lottery, Lotto Odds
[3] - World Stroke Campaign, The Facts Behind “1 in 6”
[4] - Cancer Research UK, April 2017
Income Protection Insurance
What It Does
Income protection insurance pays out a percentage of your normal income as a regular tax-free income if you become unable to work because of illness, injury or – with certain policies – unemployment. It could help you keep up with your mortgage repayments or rent, and other day-to-day living costs until you are able to return to work.
You can buy cover that will pay you a monthly income either until your planned retirement age or return to work, whichever happens first, or for a limited amount of time (which will result in a cheaper premium). Income protection policies also have a waiting period (sometimes known as a deferred period) before they pay out, which begins when you become unable to work.
The premium you’ll pay will vary depending on the above factors and others such as your age, health, the nature of your job and of course, the level of income you wish to protect.
Why You Might Need It
If you become ill or suffer an injury during your working life, an income protection policy can help protect against possible loss of income.
Other Types Of Income Protection Insurance
Payment protection insurance and short term income protection insurance (along with mortgage payment protection insurance and accident, sickness and unemployment insurance) can provide a monthly income if you can’t work due to an accident, illness/injury or, often as an optional extra, unemployment.
There are important differences between these products and income protection insurance, the most obvious being that they will only pay a percentage replacement income for a limited period of time – usually between 12 and 24 months. In contrast, income protection insurance will pay out for as long as you are unable to work (up to the policy expiry). Shorter payment periods are available from some insurance companies, which reduce the cost of these plans.
Accident, Sickness & Unemployment Insurance (ASU)
What It Does
ASU is a form of income protection insurance, which pays an income in the event of certain accidents, sickness or involuntary unemployment. It can sometimes be referred to as a short term income payment protection policy as the maximum period for a claim can only go up to 2 years.
The income paid from an ASU policy is usually based on your mortgage and monthly outgoings up to a maximum percentage of your salary, for example up to 60% of your salary.
Why You Might Need It
If you become ill or suffer an injury during your working life, an income protection policy can help protect against possible loss of income.
Accident Cover
What It Does
Accident cover offers a level of protection cover for a list of specified accidental injuries without the need for draconian underwriting. It provides a tax-free cash lump sum in the event of one of the accidental events occuring.
Why Might You Need It
If you have had issues or claims in the past and are unable to get alternative insurances through the normal underwriting process, this could provide as an alternative solution.
Household Insurance
Buildings Insurance
This covers the building itself against things like fire or flood. It may also cover permanent or fitted fixtures and fittings in your home and garden, and any outbuildings that form part of your home.
If you own your home, buildings insurance is absolutely essential. If you have a mortgage, your lender will almost certainly demand you have a policy in place as a condition of your loan.
How Much Buildings Insurance Do I Need?
The sum you are insured for should be sufficient to cover the full cost of rebuilding your property.
Different insurers will have different ways of calculating rebuild costs. Some will ask you for the amount stated on your home survey, while others will calculate the amount based on the number of bedrooms you have and the information you’ve provided.
Most policies will have a standard level of cover, for example £300,000, although some policies go further, offering ‘unlimited’ cover. It’s worth stressing that your rebuilding cost is not the same as the market value of your property.
Contents Insurance
Contents insurance protects your household goods and personal possessions, such as electrical goods, jewellery, clothes and furniture.
You can usually add various options to your contents insurance that will provide additional cover. Two common enhancements are accidental damage cover and cover for possessions outside of the home. Some insurers include these additional options as standard.
How Much Contents Insurance Do I Need?
Most insurers will offer a standard level of cover, usually between £30,000 and £50,000. This will be sufficient for most households, but it’s important not to underestimate the value of your possessions.
Combined Policies
As well as offering standalone contents insurance, most insurers offer ‘combined’ policies that also include buildings cover. This is usually the most convenient and cost-effective way to buy your home insurance if you need both types of cover.
For Tenants
If you are renting a property, you probably won’t need buildings insurance (as this will be the responsibility of the property owner), but you will need contents insurance.
Homebuyers Protection
What It Does
Homebuyers Protection covers a buyer for many of the risks when buying a new home. These include risks such as gazumping, down valuations, lenders demanding certain works before lending, legal issues with the purchase, seller deciding not to sell and more.
A buyer can generally claim back the costs they have already paid or the loss they suffer if the sale falls through by no fault of their own.
This is a useful addition to have when buying a property certainly for those that are risk averse. Buying a propert can be one of the most stressful life events, so it is nice to have additional peace of mind throughout the process.
Get in touch today to find out more about homebuyers protection.
Business Protection
Is Your Business At Risk?
As a business owner, you are critical to the continued success of your organisation. However if you, or a co-owner were to become seriously ill or die, it could lead to serious problem:
• If you’re a sole trader, your business could fold if you were no longer around to run it, which could have a life-changing impact on those left behind.
• The death or serious illness of any key employees could affect the revenue and profitability of your business. 
With our help and some sound planning these issues can be avoided.
A business owner’s death, or serious illness (causing permanent or extended absence), could result in a loss of business revenue. This, in turn, might lead to:
• Reduced profits (or increased losses) for the business
• Reduced income for the owners and/or their family
• Difficulty in repaying business debts (including those owed to the deceased or ill owner)
• Loss of confidence among suppliers, clients and lenders 
• Loss of clients
• Difficulty in meeting ongoing costs
• Increased costs (e.g. recruitment)
How To Protect Your Business
We can help you reduce and minimise the effects of these risks by ensuring your business is adequately insured in case should the worst happen. We really hope you don't need it, but it is nice to have the peace of mind that no matter what comes, you and your business are well prepared.
Get in touch now to discuss your Business Protection needs.
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Term Life Assurance
Serious/Critical Illness Insurance
Income Protection Insurance
Accident Protection
Household Insurance
Homebuyers Protection
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