Insurance Policies and Protection

Protection for you and your family

If you died or suffered a critical illness how would your family cope financially? No-one likes to think about dying but if you don’t consider it, you may leave your family suffering not just emotionally but financially as well.

That’s why life insurance is so important; it can provide a cash lump sum which will give your family an income or pay off the mortgage and any other outstanding debts at a difficult time. There are a range of plans available and our Financial Advisors can help you understand what each one has to offer, these include:

Life assurance

This type of policy pays out a lump sum on death minimizing your family’s financial hard ship. If you are diagnosed with a terminal illness and have less than 12 months to live you will be paid the lump sum early to give you a chance to sort out your finances.

Critical illness

These policies pay out a lump sum on diagnosis of one of a number of specified critical illnesses. This could be used to pay off your mortgage, perhaps other outstanding debts and protect the long-term security of your family.

Income Protection

An Income protection policy pays you a monthly income if you suffer an illness or disability that prevents you from working for an extended period. This helps you to ensure you can continue paying your mortgage and other bills.

Mortgage Protection

These plans are designed to cover the life of your mortgage and pay a cash sum if you die during the term of the plan, if you become critically ill or have a specified operation. Cover decreases each month and is designed to reach zero by the end of your mortgage term. All of these protection plans are designed to provide valuable benefits in return for regular payments throughout the term of the plan. These plans have no cash value at any time so if the plan is cancelled there is no money to be collected.

BUSINESS PROTECTION

Protection for you, your family and your business.

Sole Traders

As a sole trader the success of your business depends on you alone, in turn you and your family rely on your business for your financial security. If you were to die or suffer a critical illness that left you unable to run your business what effect would that have on both your family and your business? Would your business be able to continue without you? We can help you put plans in place to protect you in these circumstances.

Partnerships (also relevant to Controlling Directors of Limited Companies)

If you were to die or were diagnosed with a critical illness that meant you were unable to work, what would happen to your share of the Partnership? If your family inherits your share of the Partnership on your death what role would they like to play in running the business? Even if other Partners would accept them, will they have the necessary knowledge and experience as you? We can help you put life and critical illness plans in place, which when written in Trust, will provide the other partners with enough capital to buy your share of the partnership, we will also help you to set up a cross option agreement which is a legal framework to ensure that your wishes are carried out. If you take out life cover with one of our advisors we will write your plans in Trust and set up a Cross Option Agreement at no extra charge saving you a minimum of £800 + VAT.

Partnerships & Limited Companies - Protecting your profits.

Within many Partnerships and Limited Companies there are likely to be other people working for you who are vital to your business being successful. If any of these key people died or were diagnosed with a critical illness and were unable to work for a considerable period of time would effect would their absence have on your business? How long would it take to find the right person with the skills, knowledge and experience to replace your valued key person? What would their loss cost your business? We can help you to put plans in place to protect your business for the loss of profits resulting from the death or critical illness of a key person.

Please contact our advisors for a full discussion on what cover may be right for you.

Contact Us

Tel:- 0800-9530041

Email:- info@britanniacrest.co.uk