Life Assurance and Income Protection
During your lifetime, it’s always possible that you or your family may be hit by unemployment, illness and other unforeseen circumstances. We can help to protect you in these cases by putting in place protection plans, which are adaptable as your circumstances change. It means peace of mind in uncertain financial times.
Through a period of sickness or unemployment, we understand that your illness or injury is often only part of the problem. Loss of income, mortgages and direct-debit payments quickly become the hard-to-ignore ‘elephant in the room’ for many households without income protection. Our aim is to provide you with the policy that best suits your needs and eases the stress if your income is suddenly reduced.
Life Assurance or Whole Life Insurance?
Life assurance is different from whole life insurance in one key way. With life assurance, you only get a pay-out if you die within the fixed term of the policy. Instead, with whole life assurance, you are guaranteed a pay-out on death at any time throughout your life.
What is income protection insurance?
The policies we recommend ensure that you are paid a monthly, tax-free income if you are unable to work due to being signed off with an illness or injury. This provides you with true peace of mind through what can be a troubling time.
Plans we can advise on
- Mortgage Protection A life policy that ensures your mortgage or debts are paid off upon death. We source policies that can be held either singularly or jointly within the household. This peace of mind ensures that your family don’t have to worry about your biggest financial commitments.
- Family Income Protection
A policy that will pay the widow or widower an income for a set period of time to allow the bereaved to continue with the lifestyle they were used to. This type of policy ensures that your family is in a good place financially during their bereavement, to give peace of mind at a difficult time.
- Life and Critical Illness
This policy provides a lump sum upon death or critical illness within a fixed period, to provide sufficient funds for your family. The payment can help significantly with making the adjustments necessary to reduce the impact of an illness or death.
- Income Protection
A policy which will pay out an income if you are unable to work due to illness or an accident, until you reach your selected retirement age or return to work.
Where applicable, we will also advise – at no additional cost – on whether any protection plans need to be written in the Trust to be tax efficient.
Page Kirk Financial Services have access to a selection of income protection and life assurance plans that are designed to suit different circumstances. Contact us today to find a policy that fits around your priorities.