Why you might need wealth protection?
- Financial security: Wealth protection provides a safety net that ensures financial stability for you and your loved ones in times of uncertainty.
- Minimises risk: Life is unpredictable, and wealth protection helps mitigate various risks that could jeopardise your financial wellbeing.
- Replace lost income: In the event of critical illness or death, protection cover can ensure you are able to maintain your standard of living and meet your financial obligations.
- Peace of mind: The reassurance that you and your family 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.
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.
Explore your needs and goals
We get to know you and understand your family circumstances and financial needs.
Discuss risks and implications
We work with you to identify any potential risk, shortfalls, or vulnerabilities, and the implications.
Present your advice
We recommend the most suitable level of protection to ensure your family remains financially secure whatever the future holds.
Implement agreed plan
Once we’ve agreed the right protection and levels of cover, we put your plan into action to support your goals.
Review your plan
As life changes, we are available on request to reassess your protection plan to ensuring it evolves with your changing needs.
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.
Guide
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.
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.
Latest insights
Navigating life's milestones: A guide to proactive protection
Life is a journey filled with pivotal moments, from marriage to retirement, each demanding careful financial consideration. Our latest article dives into the importance of proactive protection planning for all life’s milestones.
Why do I need income protection insurance?
Is income protection worth it? Find out why income protection insurance is vital in wealth planning strategies for entrepreneurs and business owners.
Protect your wealth from inheritance tax
Record-breaking inheritance tax (IHT) receipts are rolling into HMRC. But families can reduce the chances of being hit by a hefty inheritance tax bill by taking steps now. In this article, we discuss ways to ensure your beneficiaries will receive a more significant transfer of wealth.