Why you might need wealth protection?
- Financial security: Wealth protection provides a safety net that ensures financial stability for you, your loved ones, and your business in times of uncertainty.
- Minimises risk: Life is unpredictable, and personal and business protection help mitigate various risks that could jeopardise your financial wellbeing or the continuity of your business.
- Replace lost income: In the event of critical illness, death, or other unforeseen circumstances, protection cover can ensure you are able to maintain your standard of living, meet your financial obligations, and safeguard your business’s future.
- Peace of mind: The reassurance that you, your family, and your business are protected against unforeseen circumstances can allow you to focus on other aspects of life with confidence.
Wealth protection solutions to consider
There are a wide range of solutions to protect you. Here is an overview to the different types of personal wealth protection.
There are several types of life insurance, each tailored to address specific needs and circumstances, but they are all designed to pay your family money upon your death, known as a death benefit.
- Whole-of-life insurance is an option that provides covers for your entire life, rather than a set term. It ensures the financial security of your loved ones regardless of when you pass away. Your wealth planner can also consider life insurance as part of your wider estate planning strategy.
- Term life insurance offers coverage for a specified period of time and provides a death benefit to your beneficiaries if you pass away during the policy term. It is often chosen for its affordability and simplicity, making it an ideal choice for those seeking basic protection for a specific period, such as during the years of a mortgage or while raising a family.
This type of insurance pays you a regular income if you are unable to work because of an injury or illness. It works by paying out regularly to replace a part of your income, usually until your return to work, retirement age, or death.
It can be an enormous support allowing you to maintain your standard of living and cover essential expenses, when faced with an unexpected setback, and importantly it can help you focus on recovery without the added stress of financial strain.
A serious health diagnosis can have a severe impact on your finances as you may need to take time off work for your treatment and recovery. Critical illness cover is designed to help with the financial burdens – it pays out a lump sum payment if you are diagnosed with one of the specific conditions covered by your policy.
This is a type of insurance designed to safeguard homeowners and their families against financial hardship in case of unexpected events like critical illness or death.
It typically pays off or covers a portion of the outstanding mortgage balance, ensuring that your loved ones can continue living in the home without the burden of mortgage payments.
We understand that your business’s success is about more than just numbers. It is about safeguarding your legacy and ensuring continuity in the face of unexpected events. You have worked hard to build and grow your business; we are here to help you protect it.
- Key person protection: Compensate your business for financial losses from a key employee's death or critical illness.
- Shareholder or partnership protection: Ensure your business remains in the right hands and retains its value if a key shareholder or partner dies.
- Business loan protection: Protect your business from financial strain by ensuring loans are repaid if a business owner or key person dies or becomes critically ill.
- Relevant life plans: Provide tax-efficient life insurance for all employees, enhance their benefits package, and provide reassurance.
- Executive income protection: Safeguard the income of your key executives, ensuring continuity and stability during their recovery period.
How we could help
Our Wealth Planning team will work with you to find the right solutions to meet needs – drawing on solutions from across the market.
1
Explore your needs and goals
We get to know you, understand your family circumstances, financial needs, and the unique requirements of your business.
2
Discuss risks and implications
We work with you to identify any potential risks, shortfalls, or vulnerabilities, both in your personal finances and within your business, and discuss the implications of these risks.
3
Present your advice
We recommend the most suitable level of protection to ensure that your family and your business remain financially secure, whatever the future holds.
4
Implement agreed plan
Once we have agreed on the right protection and levels of cover for both your personal and/or business needs, we put your plan into action to support your goals.
5
Review your plan
As life and business circumstances change, we are available on request to reassess your protection plan, ensuring it evolves with your changing personal and business needs.
Personal protection
An introduction to the importance of protecting your wealth through various life stages and circumstances.
Find out how you can ensure the financial security for you and your family.
Business protection
This guide will help you identify the risks your business may face and explore the common protection options designed to offer support and assurance for your key people.
Protection quiz
Are you prepared for what the future holds?
Take our five-question quiz to find out if you are financially ready and future-proofed for whatever the future brings.
Becoming a client
We welcome private clients who are looking to open a deposit or investment account with £500,000+ or have a borrowing need of £500,000+. Unfortunately, if you are not depositing, investing, or borrowing £500,000 or more, we are unable to support you at this time.
To enquire about becoming a client please complete our enquiry form or call us directly on the number below.
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