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SIPPS/SSAS | INVESTMENTS | PROTECTION | TAXATION | MORTGAGES | PERSONAL ACCOUNTS (NPSS/NEST) |
Protection
Providing for your family after you've gone or throughout a period of illness can make a stressful time more comfortable and provide extra peace of mind. Life assurance policies are provided at varying levels and picking the right one can be tricky, so sound advice is invaluable.
Term assurance policy
This policy only covers the holder until a certain date, so if they pass away within this period then the policy will pay out; if not, then the policy ends and there is no pay out at all. Premiums are usually paid on a monthly basis in return fore the cover and these are usually relatively cheap to buy when compared to other plans.
Whole-of-life policies
Because there is a guarantee that this policy will need to pay out, it is usually more expensive. Policies can be reviewable or guaranteed premiums, and final payments are made either in the form of a guaranteed lump sum or at the value of the investment - which can both fall and rise. The policy may have a surrender value.
Critical illness policy
Critical illnesses such as cancer can have a great impact on both the life of the person affected and those around them. With this in mind, critical illness insurance has been created so that in the event of diagnosis a lump sum may be paid, and may also be paid after a survival period.
Not all insurers provide cover for the same illnesses, so if there are any that run in your family or that are more likely to occur due to lifestyle options, then it would be beneficial to ensure that these are included. Cover may also exclude any pre-existing medical conditions and you may be subject to tests to ensure that your state of health at the time of taking out the policy and medical underwriting.
Permanent health insurance (PHI) policy
An illness or injury can affect your life in many ways, but what if it means that you can't work? A PHI policy aims to provide cover in this event, and to be able to reduce the stress of paying bills, living costs and to keep a roof over your head can make it a bit easier to cope.
There are a wide range of choices available for cover, and factors such as your age are taken into consideration when compiling the policy. Contribution levels are defined by factors such as occupation, and the policy will continue to pay until the holder goes back to work, retires or when the end of the term is reached.
There is no industry standard / guideline on what a critical illness is defined to be, so policies will vary from insurer to insurer. The main thing to bear in mind when considering this type of insurance is the cost of the premium in relation to the level of cover. Our financial advisers are here to help you make the right decision for your needs.
Long-term care
As we get older we are more likely to need increased levels of care, which can prove to be an expensive drain on your living resources or the inheritance you wished to give. A way to combat this is to open a long-term care policy which adds to the state benefits you are able to receive, which could mean that the majority or the full amount of care required is paid for.
Providing for your family after you've gone or throughout a period of illness can make a stressful time more comfortable and provide extra peace of mind. Life assurance policies are provided at varying levels and picking the right one can be tricky, so sound advice is invaluable.
Term assurance policy
This policy only covers the holder until a certain date, so if they pass away within this period then the policy will pay out; if not, then the policy ends and there is no pay out at all. Premiums are usually paid on a monthly basis in return fore the cover and these are usually relatively cheap to buy when compared to other plans.
Whole-of-life policies
Because there is a guarantee that this policy will need to pay out, it is usually more expensive. Policies can be reviewable or guaranteed premiums, and final payments are made either in the form of a guaranteed lump sum or at the value of the investment - which can both fall and rise. The policy may have a surrender value.
Critical illness policy
Critical illnesses such as cancer can have a great impact on both the life of the person affected and those around them. With this in mind, critical illness insurance has been created so that in the event of diagnosis a lump sum may be paid, and may also be paid after a survival period.
Not all insurers provide cover for the same illnesses, so if there are any that run in your family or that are more likely to occur due to lifestyle options, then it would be beneficial to ensure that these are included. Cover may also exclude any pre-existing medical conditions and you may be subject to tests to ensure that your state of health at the time of taking out the policy and medical underwriting.
Permanent health insurance (PHI) policy
An illness or injury can affect your life in many ways, but what if it means that you can't work? A PHI policy aims to provide cover in this event, and to be able to reduce the stress of paying bills, living costs and to keep a roof over your head can make it a bit easier to cope.
There are a wide range of choices available for cover, and factors such as your age are taken into consideration when compiling the policy. Contribution levels are defined by factors such as occupation, and the policy will continue to pay until the holder goes back to work, retires or when the end of the term is reached.
There is no industry standard / guideline on what a critical illness is defined to be, so policies will vary from insurer to insurer. The main thing to bear in mind when considering this type of insurance is the cost of the premium in relation to the level of cover. Our financial advisers are here to help you make the right decision for your needs.
Long-term care
As we get older we are more likely to need increased levels of care, which can prove to be an expensive drain on your living resources or the inheritance you wished to give. A way to combat this is to open a long-term care policy which adds to the state benefits you are able to receive, which could mean that the majority or the full amount of care required is paid for.