Financial Security Assurance & Protection Advice

Protection policies are designed to build-in layers of financial security into your future and form an important part of financial planning for both individuals and businesses.

They are designed to either cover the cost of expensive medical bills or to pay out pre-agreed sums of money when you, your family or business need it most, typically in serious ill health or upon death.

Protection policies can also play an important role in inheritance tax planning. Certain policies can pay a pre-determined sum of money, tax-free to beneficiaries on death to cover an expected IHT bill.

Not all insurance policies are the same and the level of cover and exclusions vary from provider to provider. It is important that you have the right insurance policy in place which not only covers your specific needs, but which is also competitively priced. Too often people assume that because they pay a monthly premium for insurance, they are covered against all of life’s mishaps, only to find they don’t have the right protection in place when they need to make a claim.

At Mattioli Woods Financial Planning we provide financial advice on a wide range of insurance policies to meet our individual clients’ needs, tailoring insurable amounts and premiums accordingly. We choose policies and cover which exactly meet your personal requirements, so that you are not over-protected in some areas and not in others.

The protection advice we offer includes:

Term assurance or family income benefit – this provides a lump sum or income to your family if you were to die prematurely

Mortgage protection – a special term assurance policy specifically designed to pay off the outstanding mortgage

Permanent Health Insurance – provides your family with an income if the main breadwinner is unable to work due to an extended illness

Critical Illness insurance – provides a lump sum if you were to contract a critical illness

Keyman Insurance – which provides a sum of money for the business should a key employee or partner in a business become critically ill or die.

Partnership/Shareholder Protection – is an insurance policy for business partners. It provides the surviving business partner with a sum of money on death, to buy out their partner’s share of the business from the inheriting beneficaries.

Gift Intervivos – a specialist term assurance policy designed to pay the inheritance tax on a gift where death occurs within 7 years

Whole of Life – a policy that pays out on death whenever that occurs, which can be a useful way of funding the final inheritance tax liability