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Return to Financial Advice HomeProtect Your Family

When you're fit and healthy the last thing on your mind is how your family would cope if you were to die, or how you would cope if you were diagnosed with a critical illness.

Statistics about the risks can make for scary reading:every year around 150,000 people in the UK have a stroke (Source: The Stroke Association September 2011); more than 1 in 3 people will develop cancer in their lives (Source: Cancer Research UK Website September 2011) and around 124,000 people in the UK each year suffer a heart attack (Source: British Heart Foundation ‘Coronary Heart Disease Statistics 2010 edition).

But planning for such events needn't be scary or stressful. With our help you can prepare for the unexpected and provide financially for yourself and your family. Even if you already have some protection, whether it's a life assurance policy or critical illness cover. It is a good idea to review existing policies to see whether you could now get the same level of cover at a more competitive cost. We can carry out a full review of your existing policies and, based on your individual circumstances, let you know whether you may be able to obtain the same level of cover at a reduced cost.  Of course, there is no guarantee that this will be the case. 

Income Protection

Income protection provides you with a monthly income if you are unable to work because of illness or injury, giving you the peace of mind knowing that you can meet your financial commitments. It's available to both the employed and self-employed, and is especially important for people with heavy financial commitments and anyone who is not covered by a personal or company scheme. The total maximum amount payable under this type of plan is a percentage of your annual income or declared profits’ irrespective of how many income protection plans you may hold. 

Critical Illness Cover

This provides a lump sum on the diagnosis of a critical illness which must be covered under the terms of the insurance policy. There may also be a requirement to survive a certain number of days after the diagnosis to ensure the policy pays out. Typically a Critical Illness policy is used to ensure that your financial worries caused by your inability to work are eased, as you can use this lump sum towards for example paying off debts or fund a required change in lifestyle due to your illness.

Whether you're employed or self-employed, critical illness cover may be suitable for you, and is especially important for those not covered by a personal or company scheme, or who have a number of financial obligations.