Family Financial Protection

Family
Financial Protection

Protect your loved ones

We often spend more money on our mobile phone bills than we do life cover, some people don’t have life cover, but of course have car insurance because they have too.

What value would you put on your life or that of your partner?
This is a question we don’t want to answer or worse we don’t think about.

If you were a money tree at the bottom of your garden 
would you insure it to protect it? 
Well, we are money trees, but much much more, we are the person that money can’t buy.

Research shows that to replace a full time mum it could cost £29,535 per annum, to provide this as an income a lump sum if £590,700 would be required. Alternatively, you could take a plan which provides a regular income.

The cost of replacing income is a £100 lump sum for £5 of income, therefore, a net monthly income from a salary of £3,000 would require a lump sum of £720,000.

A review taking into account debts, mortgage and other aspects of financial planning, 
such as provision for retirement, needs to be considered.

For me I don’t want to die, but I don’t want to leave my family, my children in the position of having to make do and them not being able to pursue the aspects of their life, such as education, experiences from travelling, that money enables them to experience.

Why do we insure our cars?

Because we have to comply with the law.

Why do we insure our homes?

Because we have too usually comply with our mortgage company requirements.

Why do we insure the contents of our homes?

Because we value our possessions.

The simplest and most effective way to protect our families, our loved ones is by taking out Life Insurance/Life Cover 

There are a variety of life insurance policies available, which can be personalised for you. Some provide cover until you die, while others are for a defined period, such as the number of years remaining on your mortgage. Policies come into effect if you die or are diagnosed with a terminal illness. Life cover is the simplest and most common type of financial protection for families and estates, which will pay out a lump sum or annuity when triggered.

To understand the importance of Life Cover, please look at the claims history below of some of the product providers:-





What Happens if I suffer a serious illness/critical illness?

Are you protecting what matters most against the financial impact of life-changing events? 

Have you thought about how you would cover mortgage payments and household bills should you be unable to work or how your family would cope financially?

A Critical Illness policy/cover provides the peace of mind of helping individuals who suffer the critical illness and their families to allow them time to recover with the stress of how will they cope financially.

Critical illness cover pays out a tax-free lump sum if you are diagnosed with a life-changing condition, such as a stroke, heart attack or cancer. You can use the money to pay off debts, such as a mortgage, or for improvements around a home. Alternatively, the payout could help cover additional financial pressure from extra costs during long-term recovery – such as medication, making your home suitable for recovery, or employing someone to care for your children.

Best Doctors and Global Treatment

With over twenty years as a financial adviser I have seen the benefit and advised my clients of the benefits of Life Cover and Critical Illness Cover and strongly advise my clients to put this in place.

On reviewing my own protection needs to ensure my family are protected, I came across the following additional benefits;

Best Doctors

They provide access to the best medical minds in the world so you can be sure you have the right diagnosis and treatment or get expert answers to your medical questions. Best Doctors helps you make medical decisions with confidence.

Global Treatment

For just £4 per month I added this future to my life and critical illness policy, this provides myself and eligible children with the following:-
  • Access to the latest treatments around the world for a serious condition like cancer or a heart problem.
  • Cover for serious conditions – global treatment covers all malignant cancers, neurosurgery, coronary artery bypass surgery, heart value replacement or repair, bone marrow and live-donor organ transplant.
This cover provides extra peace of mind so that my loved ones are protected, we made sure we also added the cover to my partners plan too.

Aviva Global Treatment - 

What happens if you cant return to work in your 
present occupation?

What would happen if you couldn’t return work in your present occupation?
Do you look for a career change?
Do you take any job that you can do?
How would you cope financially with a loss of your income?
What can you claim from the Government?

The Solution is Income Protection

If you are unable to work due to sudden illness or injury, an income protection policy can help you avoid serious financial strain and continue to pay your monthly bills or large expenses – such as home adjustments to accommodate a disability. People often think savings and investments will cover any potential costs, but they can run out sooner than many expect.

Some employers provide sick pay but what happens when the payments stop? An income protection policy can provide you with the certainty of a regular income even if you are unable to work.
 

Aviva claims report 2018 - 

L&G Claims report 2018 - 
Aviva Claims statistics that 
speak for themselves
In 2018 Aviva paid out over £957 million worth of claims, helping over 26,000 people.

98.9%

Life Insurance and 
Terminal Illness Claims

92.6%

Critical Illness, Children Benefit and Total Permanent Disability Claims

87.3%

Income Protection 
Claims*
*Income protection figures include all third-party information
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