Financial Protection Advice

There is a popular phrase when discussing Life Insurance with clients – please don’t ask me to tell your family you didn’t have any!

Whether it is Life Insurance, Critical Illness, Income Protection or Business Protection – at Wealth of Advice we have a huge amount of experience of helping clients just like you get the cover you need, providing peace of mind for your family.

Life Insurance

Sorting your Life Insurance out is one of those jobs that that we can easily avoid as we don’t like to think about it, but Wealth of Advice can help you get the cover you need for you and your family. A life insurance policy pays out a lump sum if you die during the policy term. It will only pay out one claim. The lump sum paid out can help to provide for your family or to help pay off mortgages or loans.

Critical Illness

A critical illness policy pays out a lump sum if you are diagnosed with a critical illness during the term of the policy.

The policy also provides cover for less severe conditions, these are called additional payments. When a claim is paid for an additional payment, your cover remains in place and for the full amount. When a claim is paid for a full payment condition, the policy ends, and you won’t have to pay any more premiums.

Again, the money can help to provide for your family, help pay off mortgages or loans or adjust your home if you were to become permanently disabled.

Income Protection

An income protection policy is designed to pay you a regular income to replace some of your lost income if you’re unable to work because of sickness or an accident, during the term of the policy. If you make a claim, you’ll receive an income until you’re able to go back to work, or the policy ends through death or reaching the end of its term. If you go back to work part time because you aren’t fully recovered, then you may continue to receive payments from your policy, but at a lower level. There’s no limit on the number of claims you can make on your policy, and you can make more than one claim for the same illness should you suffer a relapse during the policy term.

Business Protection

The importance of business protection is often overlooked. It helps business owners plan for the unexpected by providing cover to ensure the business can continue with minimal disruption following the loss of one of their key employees or one of the business owners through death, critical illness or temporary disablement.

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The Wealth of Advice team is here to help with your financial requirements. Whether you're looking to retire, invest, protect or plan for the future, we can help. Get in touch today to organise a free no obligation consultation.