Protection Planning

Protection comes in all shapes and sizes – body armour, fencing masks, cyclist’s helmets, weather shields – all are bought and used for a specific purpose. So it is with financial protection. – differing types of policy and differing benefit options are available and need to be selected individually for the purpose.

Choosing the right protection product is only part of the process – it then needs to be fitted properly to do the job effectively. It is the same with financial protection – incorrectly arranged its value could be materially reduced.

Then there is the question “is it value for money?” As an Independent Advisor we have access to a full range of products from a wide number of providers.

Before choosing a suitable product for you we must first assess your circumstances and decide your needs in terms of financial protection. Is it:-

• To provide for your spouse or family? 
• To repay a loan or mortgage? 
• To protect an inheritance or provide future Trust benefits? 
• To provide capital for the purchase of business shares or assets? 
• To protect against the loss of business profits? 
• To provide for employees or co-business partners?

These are some of the various reasons for financial protection.

We will then need to consider together other factors:-

• Will the benefit be in the form of a capital sum or in income? 
• Will the benefit be paid on death only or should it include provision for illness, disability and accident? 
• How long will the cover need to last? 
• Who will receive the benefit? 
• Who will pay the cost? 
• Are there any tax implications? 
• Should the protection be placed under a Trust?

Once we have agreed on the right type and “style” of protection plan our independent analysis systems will then identify and compare the plans which are most suitable and the costs of the most competitive providers.

Our task does not stop there however as we must submit accurate application forms giving medical information which can be checked with a doctor or through a medical examination. Only after this has been done will we be able to determine if the protection arrangements and costs involved will be the most competitive. Once the selection has been made we will guide you through the remaining process to ensure that the documentation delivered to you is both accurate and suited to your requirements.