Protection Planning

What would happen if you were to fall ill, or worse? You’ll want to make sure your loved ones are protected. Planning for your family’s future can bring peace of mind that they will be financially stable.

Protection planning can involve looking at life protection, critical illness cover and income protection. An independent financial adviser at Newstead Clark can discuss with you the solutions most relevant for your specific needs and search the whole of the market to find the most suitable offers.

Below are some of the different protection products on offer. If you would like to discuss any of these in more detail and find out how we can help you, get in touch to book a free initial meeting with one of our experts today.

Protection Planning
Life insurance

Life insurance

Income protection

Income protection

Critical Illness

Critical Illness

Ashley Dougliss Dip PFS

Life insurance

Life Insurance premiums are usually paid until death or for a given time span, for instance the term of a mortgage. This insurance can also be combined with Critical Illness Insurance and Family Income Benefit.

You can use the money for any purpose you chose including:

It is worth considering that any proceeds from a life assurance policy will be added to the deceased’s estate. This can be avoided by placing the Life Insurance in Trust and therefore separating out these proceeds from the ‘estate’ and keeping them free from Inheritance Tax.

Income protection

An income protection policy is designed to payout a regular amount of money should you suffer any illness or accidental injury which affects your ability to earn an income.

The features you require from income protection will directly affect the premium you pay.

Premiums are collected on a regular basis, and you can be covered regardless of how many claims you make.

Critical Illness

Critical Illness Insurance covers you against a number of serious illnesses, diseases, and medical conditions. It usually pays out a single tax-free lump sum on the diagnosis of one of the illnesses specified in the policy details.

Critical Illness Insurance covers an individual for a set period but will only pay out if the customer survives a predetermined time-period following diagnosis as the policy is intended to cover living expenses. This is why this form of insurance is usually combined with Life cover.

You can use the cash payment from the policy for

If there is a history of serious illness in your family, Critical Illness insurance is well worth considering.
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