HomeNewsBusiness NewsBusiness News 2009Insurance Protection for Individuals

Business News 2009

Insurance Protection for Individuals

Over the years you have probably taken out various insurance policies that cover your car, home and possibly your life and income.  Personally I check my car and home insurance every year to make sure that the cover is appropriate for the falling value of my car (and now home) and that I am not paying more than I need to. But when was the last time you reviewed your life and income insurance to make sure that you have the right cover at the right price.

We are pleased to offer our Protection Review Service at our expense and with no obligation. Having considered your existing insurance arrangements and your individual circumstances we will either be able to save you money, highlight any shortfalls, or confirm that you have the right cover in place.

The Protection Review is available to those who have yet to arrange insurance and will outline the areas that you should consider, including:

Income Protection is designed to replace your earnings and will provide a tax-free income if you are unable to work through accident, sickness or disability. The policy pays a monthly tax-free income until you recover - right up to retirement date if needs be and the payout can be level or set to rise with inflation.

The maximum cover you can have is typically half of your gross income but as it is paid tax-free it should mean that you can maintain a similar level of income. If you are working then you should consider income protection rather than rely on Statutory Sick pay amount of £79.15 per week.

Life Insurance is a policy that pays out a tax-free sum of money upon death of the policyholder or insured person. Typically you would cover debts such as a mortgage and provide sufficient to maintain standard of living of those that are dependent upon your income.

Critical Illness Insurance will pay you a tax free lump sum on diagnosis of any one of a wide range of life threatening conditions including certain types of cancer, heart attack, stroke, brain tumor and many more.

Diagnosis of such an illness would be a major trauma in your life, but you would still have to meet your financial commitments.

Call David Higgins now on 020 8458 7427 or email david.higgins@glazers.co.uk to arrange your Protection Review.

This article has been provided by Re Financial Planning, the financial services arm of Glazers. Re Financial Planning Limited is authorised and regulated by The Financial Services Authority.