Ensuring you have the correct Life Assurance or Income Protection to protect you and your family.
Ensuring that you, your loved ones or your business are protected is of paramount importance and in the majority of cases Life Assurance is cheaper than expected.
There are many types of protection policies available, which can cover you financially should you need to :
- Provide for your family and loved ones have money when you die
- Ensure that if you are unable to work you still receive an income
- Ensure that if you become critically ill you can afford to ensure you get treatment and support your family.
- Cover a single item or debt, e.g. your mortgage
The most common forms of protection policies are as follows:
This cover is the most common form of Life Assurance and provides a set figure for a set term and paid out if the life assured dies within the term.
Mortgage Protection / Decreasing Term Assurance
Decreasing Term Assurance is similar to Term Assurance above except for the fact that the level of cover decreases over the term of the plan. This makes it ideal to insure against financial loans and most commonly mortgages.
Whole of Life Cover
Whole of life plans provide a fixed lump sum whenever the life assured dies, not just for a specific term, as the name suggests, for the rest of their life.
Critical Illness Cover
This cover will pay out if the assured is diagnosed with a specified illness during the term of the plan. Depending on the plan, this may be paid as well as a death benefit or instead of a death benefit.
These plans pay you a percentage of your income if you are unable to work at your usual employment.
Protecting your business from the adverse effects of major shareholders dying and passing on their shares or key employees from leaving or dying can be relatively simple and could possibly make all the difference to the running and survival of your firm in the future.
Connect Financial Services are experienced in ensuring the correct benefits for you or your business are provided at a competitive cost and in a tax efficient manner.