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This is an extremely important and regularly over looked part of financial planning by individuals and business alike.
In general protection cover falls under 3 categories:-
Life assurance cover is an important part of any families financial well-being, however, the cost can vary significantly from provider to provider. We can arrange life assurance to protect your mortgage, or to provide a valuable lump sum or regular income for your family
Unlike life assurance, which pays out in the event of the death, critical illness offers a survival benefit.
Critical illness cover will pay a lump sum or regular income in the event that you are diagnosed as suffering from a serious illness. Some of the illnesses covered include (but not limited to) heart attack, stroke, cancer, loss of limb and many more.
The money can be used to assist in the payment of specialist medical care, repay outstanding debts, or to ensure financial security for example. Importantly, payment is on diagnosis of one of the conditions specified, even with a full recovery.
Many policies also provide cover for children and it can also be combined with life assurance cover.
This type of cover is for those people who, should they be unable to work, will lose their income in a short space of time.
It is designed to provide financial support for periods of long-term ill health and replace lost earnings.
This is particularly important for the self-employed whose income can be lost almost immediately upon illness, whereas an employed person may have a period of sick pay from their employer.
We appreciate that most business people are heavily involved in the day to day running of their businesses. This sometimes means that non-business matters, such as company pensions and staff benefits such as sick pay and death in service, often don’t get given the attention we believe they should.
There is, too, an additional benefit – if employees are made aware of and recognise the value of their benefit packages, their confidence in their future and, therefore, the future of the company may be raised.
Whatever your personal or corporate requirements please contact us, we will be happy to assist you to achieve your protection planning needs.
Hamblin-Martin Financial Ltd is an appointed representative of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority (FCA).
Hamblin-Martin Financial Ltd FCA No: 711323. Registered Office: 5 East Park, Crawley, RH10 5AN.
Hamblin-Martin Financial Ltd. Registered in England and Wales No. 9630529.
The Financial Ombudsman Service (FOS) is available to sort out individual complaints that financial services businesses and their clients are unable to resolve.
To contact FOS please visit: www.financial-ombudsman.org.uk.