Protection and insurance
Your security is our priority.
Introduction
Safeguarding your assets is a critical yet frequently neglected aspect of financial planning. To shield yourself and your family from unforeseen life events, like severe illness or premature death, it’s essential to secure protection insurance.
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Book a DemoWhat types of protection exist?
Delivers a lump sum to your family in the event of death, available in two varieties: term assurance and whole of life assurance. Term assurance offers protection for a designated timeframe, while whole of life assurance ensures a lump sum is paid out at the time of death, provided contributions have been consistently made.
Intended to provide an income in the event you are unable to work for an extended period due to illness or injury.
Offers a lump sum payment if you are diagnosed with any of a broad range of predetermined illnesses. These can be set up as either term-based or whole of life policies.
In the unfortunate event that something severe happens, protection insurance policies, such as Income Protection and Critical Illness insurance, become crucial.
Income Protection is tailored to support financial obligations like mortgage or rent payments, utilities, and other household necessities if you’re incapacitated by illness or injury. This type of insurance typically covers between 50% and 65% of your earnings after a predetermined waiting period (often three to six months) and can continue to pay out as needed.
Critical Illness insurance is structured to provide a lump sum upon the diagnosis of specific severe illnesses or conditions.
We often insure physical items like smartphones and home contents more readily than we do the very income that affords these luxuries. Securing your income, lifestyle, and health holds infinitely more value than insuring tangible items. The repercussions of income loss are far-reaching, particularly for the primary breadwinner of a household, impacting both you and your loved ones significantly.
Though the thought is unpleasant, the stress of financial strain during difficult times is an even heavier burden. The real consideration is not if you should obtain protection insurance but rather if you can manage without it, should you find yourself unable to work. This consideration is particularly pertinent for self-employed individuals who lack the protective measures or benefits that employment might offer.
Determining what expenses are most critical to you and evaluating your priorities over something like protection insurance is key. Ultimately, the essence of protection insurance lies in the peace of mind it offers.
