Financial support for the protection of your family
If you want to prevent your family from being financially disadvantaged by your premature death or long term illness, ensuring financial support to maintain their current lifestyle, there are a few variables you should consider.
- What are your family’s expenses and how would they change if you died/became ill?
- How much would the family’s expenditure increase on requirements such as childcare
If you were to die/become ill?
- How much would your family income drop if you were to die/become ill?
- How much cover do you receive from your employer or company pension scheme and for how long?
- What existing policies do you have already and how far do they go towards meeting your needs?
- How long would your existing savings last?
- What state benefits are there that could provide extra support to meet your family’s needs?
- How would the return of inflation to the economy affect the amount of your cover over time?
To provide for the above, we will offer advice and provide solutions in the following areas:
- Life Assurance
- Critical Illness Cover
- Income Protection Cover
- Accident, Sickness and Unemployment Cover
- Commercial Insurance
- Inheritance Tax Planning
- Building and Contents Insurance
- Private Medical Insurance
Case study from a client
This case study is for illustrative purposes only and does not constitute advice.
"...suffered a heart attack and following that an Angiogram/Angioplasty some years ago. Thankfully I made a full recovery and was soon back at work.
About a month or so after my event, our Financial Advisor, Laurie Sheavyn of Sheavyn Associates Financial Management, who are based in Leeds and are part of Caerus Wealth Group, happened to call my husband about an unrelated issue. As they were talking my name was mentioned and Laurie enquired after me. That when my husband told him what had happened to me, and Laurie asked why we hadn't contacted him. Confused, my husband asked him why we should have called him, and that's when he told him that we had Critical Illness Cover on our Insurance Policies and that we could put a claim in.
From there on things moved very fast. Laurie got us a claim form which we filled in and sent off. About 6 weeks later we had the result we hoped for (but never believed could be true!). The thing is we never realised that a heart attack or other severe conditions (of which you can recover or at least live with) are on the list of illnesses covered. I personally thought this was something that would be paid if you were diagnosed with an incurable or terminal disease, but how wrong we were!
So if you haven't got a Financial Adviser who's on the ball please check your insurance policies because you maybe only able to claim for a certain period of time after the event".
The Financial Conduct Authority does not regulate taxation advice or trusts