Protection

Getting the right type of protection is crucial. but with so many to choose from, how do you know which is best for you?

Our Advisers can give specialist, independent and ethical advice on a range of protection options including:

• Life Assurance
• Critical Illness Cover
• Income Protection
• Private Medical Insurance
• Business Protection
• Inheritance Tax Insurance

Life Assurance

Life Assurance can come in many different forms, including:

• A lump sum – The simplest form of life assurance where the beneficiaries of the policy receive a lump sum upon the death of the policyholder. This is often used to cover liabilities such as mortgages, and the options are chosen at the start of the policy.
• Family Income Benefit – The beneficiaries of this type of policy will receive a tax free income for the remaining years of the policy. This form of insurance is popular with younger families who would benefit from an additional income if their partner were to die and their income be lost.

Critical Illness Cover

Critical Illness Cover (“CIC”) provides you with a lump sum payment should you be diagnosed with a serious condition, as covered by the policy definitions. It is often taken out with Life Assurance but can also be a standalone policy.

Income Protection

Income Protection insurance pays a regular income if you are unable to work due to sickness or disability and continues for a fixed period, or until you return to paid work, or you retire. The maximum paid is typically between 50% and 70% of your normal gross income and is paid tax free.

Private Medical Insurance

Private Medical Insurance (“PMI”) otherwise known as Health Insurance, provides cover for the cost of private healthcare, from diagnosis to treatment. It usually does not cover pre-existing conditions. It can facilitate quicker diagnosis and treatment than might be available through the NHS.

Business Protection

Business protection comes in several forms, including those designed to provide for the family of employees in the event of death during service, and those for the benefit of the business to replace the employee. It could also offer a form of shareholder protection, by providing the funds to buy out the deceased’s shares. There can of course also be tax benefits to the business.

Inheritance Tax Insurance

Insurance is one form of Inheritance Tax planning, whereby the potential liability is covered by a life assurance policy. This type of insurance becomes progressively more expensive the older you are when it is taken out. There is also a specific type of policy which covers you in the event of death during the 7 years following a gift to another person, if the gift would result in an Inheritance Tax liability on death.

Whilst we cannot promise you that life will always be easy; we can offer you peace of mind and financial security, should the worst happen.

Call us now on 01872 306422 or email info@afwm.co.uk for more information or to book your free, no obligation appointment with one of our Independent Financial Advisers.