Financial Protection

Are you a company director or high-level employee?

Why not contact us to hear more about Relevant Life Insurance? A unique insurance policy allowable a tax-deductible expense which offers savings up to 50% on traditional Life Insurance.

“Plan for the best and prepare for the worst.”

– FPC Financial Services 

Financial protection is all about covering a high impact event that could cause you or your family financial hardship. You transfer risk from yourself to a group of individuals (a company) in the form of an insurance contract. Usually, you pay a monthly premium for a defined benefit, for example, a lump sum should a specific event occur.

Not everyone needs financial protection. If you don’t have any dependents (children) or liabilities (a mortgage), there isn’t a need.

However, if you have a young family and/or a mortgage, then you have a need to insure against a high impact event. Obtaining insurance would provide valuable financial protection for their loved ones should the worst happen.

Why is it essential, in our opinion, to seek advice on Financial Protection?

The risk of buying insurance unadvised often results in over-insuring and purchasing a product not suitable for your needs. Life Insurance, for example, unlike other types of insurance, is a relatively simple product to buy from a price comparison website. However, it is usually similar in cost to buying directly from a financial adviser. That way you get the benefit of advice as well as obtaining the appropriate level of cover, that’s two services for the price of one. As for other types of insurance, such as Income Protection, this can become completed, and advice is usually always advised before entering into such a policy.

Types of Financial Protection

Life Insurance

Life insurance pays out a tax-free lump sum to your loved ones should you pass away.

Critical Illness Insurance

Critical Illness Cover will pay out a cash lump sum if you suffer from one of the specific illnesses listed under the policy.

Income Protection Insurance

Income Protection Insurance will replace a proportion of your monthly income, usually up to 70%, should you suffer an accident, sickness or unemployment that prevents you from working.

Private Medical Insurance

Private Medical Insurance provides you access to private healthcare facilities so you can receive the fastest treatment when you need it most.

Business Protection Insurance

Business Protection Insurance protects your business potential loss. Types of cover include Key Person Insurance which covers your business for the loss of a key person. Shareholder Protection Insurance which covers you in the event of a major shareholder passing away and funding required to buy shares from their estate.