Many people often forget to review the financial protection they have in place for their family. Policies which have been taken out in the past, may not be the most suitable policies now. We can review your financial protection, taking into account your personal circumstances, to ensure you have the right income protection, critical illness, and life protection in place to suit your needs. We have access to the “whole of market” to source products for you, in order to find the best solutions for your needs.
We offer the full range of Financial Protection services to help protect your business, Key Person cover, Shareholder Protection, group Permanent Health Schemes, group Private Medical Cover. So if you want to protect key elements of your business, or offer company benefits to help retain staff, we can help you find the best solutions for your company.
Bear in mind that if you don’t appoint a guardian and your children are left without a parent before they reach the age of 18, then the courts will appoint guardians. However, they will not necessarily be the people whom you would have chosen and there may be a period, pending the appointment, when your children have to be taken into care. By making an appointment in your Will you can take steps to help ensure that the people whom you choose and, possibly just as importantly whom your children would choose, are appointed as guardians.
Many people often forget to review the financial protection they have in place for their family. Policies which have been taken out in the past, may not be the most suitable policies now. We can review your financial protection, taking into account your personal circumstances, to ensure you have the right income protection, critical illness, and life protection in place to suit your needs. We have access to assure web and the latest life quote systems to source products for you, in order to find the best solutions for your needs.
Keyman insurance compensates a business for the financial loss brought about by death or critical illness of a key employee, such as a company director. It provides a valuable cash injection to the business to aid a potential loss of turnover and to provide funds to replace the key person.
Share or partnership protection provides an agreement between shareholding directors or partners in a business, supported by life assurance. It ensures that the control of the business is retained by the remaining partners or directors, but the value of the deceased’s interest in the business is passed to their chosen beneficiaries in the most tax efficient manner possible.
The above are essential areas for partnerships or directors of private limited companies to explore. We help you to determine the level of cover you need, any necessary trust arrangements and can provide sample agreements for you to use.
Many people prefer to instruct a solicitor to advise on the agreement and / or any trust arrangements, especially in more complex cases. We are more than happy to work with your existing solicitor, or can indeed recommend a solicitor from our trusted network of professional contacts.
The role of a guardian is to be responsible for your children in the event that they are orphaned before reaching the age of 18 and to attend to their day to day care, welfare, upbringing and education.
The guardian can also be appointed to act as the trustee for your children and to be responsible for their finances until they reach the age of 18. For example, you may have been able to leave your children a substantial sum under your Will, via a life insurance arrangement, or something similar, to pay for their upbringing and education which will be held on trust for them until they reach the age of 18. If you do make a guardian a trustee also, then it would be wise to appoint another, independent trustee, for example a solicitor, to prevent problems from arising if there is a disagreement between the child and the guardian as to what the child needs and also to guard against fraud or misappropriation of the funds.
Our “Guardianship Protection” plan enables you to decide and agree upon a regular monthly amount of money to be paid to the Guardians, who would be named as the trustees of the policy – the amount agreed upon can be as little as £500 per month or up to £5000 per month (although the latter is very rare!). This benefit can be paid for a set period of time, traditionally and quite commonly, this is set to coincide with your youngest child reaching the age of 21.