Protection

The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.

It can provide the reassurance of financial protection for you, your family, and your business associates.

A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.

Please be aware that this type of assurance is based on an assessment of the health of the applicant.

This is an area of financial planning that is often overlooked but it is important for your peace of mind.

It enables you to minimise the effects of unexpected and often unwelcome future events, and helps you to organise your personal and business life with greater confidence.

Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family.

Most people will be aware that Health Insurance can cover the cost of private medical treatment for any acute conditions you may suffer in the future. However, there are a number of other types of health-related insurance policies which are worthy of serious consideration including critical illness and income protection cover.

All businesses are exposed to risks in their day-to-day operations. Without insurance cover to provide protection against some of these risks, businesses would find it difficult to operate efficiently and profitably.

All businesses that employ at least one person are legally required to have Employer’s Liability Insurance.

These days, many people are not afraid to seek compensation. No win - no fee advertisements encourage claims, and businesses need to protect themselves against liability claims that could run into millions of pounds. In addition, you could be held personally responsible and even face criminal charges if found negligent.

Adequate insurance is therefore not a luxury - it is an absolute necessity.

Long-term care planning is about taking measures to ensure you are equipped for any support or services you may need in later life. It’s about ensuring any compensation award and any right to means-tested benefits are protected. It is also about maximising your financial security. Care options vary, ranging from independent living and domiciliary care to live-in care, reablement care, and care homes. Palliative or end-of-life care is also available for those with terminal diagnoses.

Funding can come from NHS Continuing Healthcare (NHS CHC), NHS Funded Nursing Care, or local authority support, all of which are either needs-based or means-tested. Additionally, there are benefits like Personal Independence Payment (PIP) and Disability Living Allowance (DLA) that may apply. If none of these options are suitable, self-funding from savings or property may be required, with equity release being one potential solution. Always seek professional advice when considering self-funding or using property assets.