Unexpected events happen every day, but when these events affect your health, or even your life, the financial impact can be substantial to your family and to the people who depend on you. While insurance cannot prevent these events from happening, it can help to mitigate the financial loss.
Life insurance is one of the pillars of personal financial planning, deserving of consideration by everyone, and potentially vital for most families. If you are the main salary earner, spouse or the parent of dependent children, it helps compensate for the inevitable financial consequences that accompany the loss of life.
A lump sum helps those left behind cover the costs of expenses such as outstanding debts, mortgages, planned educational expenses and lost income. But most importantly, in the aftermath of an unexpected death, life insurance can lessen financial burdens at a time when surviving family members are dealing with the loss of a loved one. In addition, life insurance can provide valuable peace of mind for the policy holder.
Critical Illness Insurance
Critical illness insurance can offer a degree of financial security, to cover you in the event of becoming seriously ill. Critical illness insurance provides you with a lump sum of money if you are diagnosed with certain illnesses.
The kinds of illnesses that are covered are usually long-term and very serious conditions such as a heart attack or stroke, loss of arms or legs, or diseases like cancer, multiple sclerosis or Parkinson’s disease.
If being ill has left you out of pocket, it can be handy to have a sum of money or a regular income to spend on things like everyday expenses, paying off your mortgage or your medical expenses.
Total and Permanent Disability Insurance
Total and permanent insurance cover is different to critical illness, in that it covers disabilities and not illnesses. If you are unable to work due to a physical disability your policy will ease your financial burden with a lump sum of cash paid to you.
Mortgage protection is a life insurance policy that will mirror your outstanding mortgage in terms of value and outstanding term. Mortgage protection can be taken as a fixed amount or as a reducing term to mirror your mortgage and reduce the costs of your policy.
Regular household and motor insurers do not generally provide adequate cover to meet the lifestyle needs of high net worth individuals and their families – policy limits for valuables such as artwork, antiques and jewellery are often insufficient.
Our high net worth offering offers a suite of specialist High Net Worth Insurance policies from our partners and is enjoyed by a wide range of clients. With access to providers who can insure assets such as yachts, powerboats and private aircraft should they be required. Let's Have A Conversation